CAE (NYSE:CAE) Stock Price Down 3.5% – Here’s What Happened

CAE Inc. (NYSE:CAE) (TSE:CAE)’s share price was down 3.5% during trading on Friday . The company traded as low as $22.47 and last traded at $22.49. Approximately 288,263 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 591,365 shares. The stock had previously closed at $23.31.

Wall Street Analyst Weigh In

Several brokerages have commented on CAE. Morgan Stanley downgraded CAE from an “overweight” rating to an “equal weight” rating in a research report on Friday, August 16th. StockNews.com upgraded CAE from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, Royal Bank of Canada upgraded CAE from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $25.00.

CAE Price Performance

The stock has a market cap of $7.30 billion, a P/E ratio of -30.27, a P/E/G ratio of 1.67 and a beta of 1.67. The company’s 50 day moving average price is $18.98 and its 200-day moving average price is $18.67. The company has a quick ratio of 0.59, a current ratio of 0.84 and a debt-to-equity ratio of 0.62.

Institutional Investors Weigh In On CAE

Hedge funds have recently modified their holdings of the stock. Ridgewood Investments LLC purchased a new stake in shares of CAE during the 2nd quarter valued at approximately $33,000. Cromwell Holdings LLC raised its position in CAE by 103.4% in the 3rd quarter. Cromwell Holdings LLC now owns 1,800 shares of the aerospace company’s stock worth $34,000 after purchasing an additional 915 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its stake in CAE by 86.2% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,376 shares of the aerospace company’s stock worth $48,000 after purchasing an additional 1,100 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in shares of CAE in the third quarter worth about $74,000. Finally, Lazard Asset Management LLC bought a new position in CAE during the 1st quarter worth approximately $77,000. Institutional investors own 67.36% of the company’s stock.

About CAE

CAE Inc, together with its subsidiaries, provides simulation training and critical operations support solutions in Canada, the United States, the United Kingdom, Europe, Asia, the Oceania, Africa, and Rest of the Americas. It operates through two segments, Civil Aviation; and Defense and Security. The Civil Aviation segment offers training solutions for flight, cabin, maintenance, and ground personnel in commercial, business, and helicopter aviation; a range of flight simulation training devices; and ab initio pilot training and crew sourcing services, as well as aircraft flight operations solutions.