CAE (NYSE:CAE) Downgraded by Cibc World Mkts to Hold

Cibc World Mkts cut shares of CAE (NYSE:CAE) (TSE:CAE) from a strong-buy rating to a hold rating in a report released on Wednesday morning,Zacks.com reports.

Several other analysts also recently weighed in on CAE. Morgan Stanley downgraded shares of CAE from an “overweight” rating to an “equal weight” rating in a research report on Friday, August 16th. Royal Bank of Canada upgraded shares of CAE from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 15th. Finally, StockNews.com upgraded shares of CAE from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $25.00.

CAE Stock Up 0.6 %

Shares of CAE stock opened at $23.45 on Wednesday. The firm’s 50 day moving average price is $20.07 and its 200-day moving average price is $18.84. The company has a quick ratio of 0.59, a current ratio of 0.84 and a debt-to-equity ratio of 0.62. CAE has a 52-week low of $15.95 and a 52-week high of $24.02. The company has a market cap of $7.47 billion, a P/E ratio of -30.45, a PEG ratio of 1.73 and a beta of 1.74.

Hedge Funds Weigh In On CAE

A number of institutional investors have recently made changes to their positions in CAE. Addenda Capital Inc. increased its holdings in shares of CAE by 18.5% in the 2nd quarter. Addenda Capital Inc. now owns 394,829 shares of the aerospace company’s stock valued at $7,336,000 after purchasing an additional 61,683 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of CAE by 4.5% during the second quarter. Assenagon Asset Management S.A. now owns 29,280 shares of the aerospace company’s stock worth $544,000 after buying an additional 1,264 shares in the last quarter. Stanley Laman Group Ltd. grew its stake in shares of CAE by 20.1% during the second quarter. Stanley Laman Group Ltd. now owns 210,223 shares of the aerospace company’s stock valued at $3,906,000 after purchasing an additional 35,222 shares during the last quarter. Nexus Investment Management ULC boosted its stake in CAE by 9.7% in the second quarter. Nexus Investment Management ULC now owns 1,446,990 shares of the aerospace company’s stock valued at $26,859,000 after acquiring an additional 128,169 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new position in CAE in the second quarter valued at approximately $33,000. 67.36% of the stock is owned by institutional investors and hedge funds.

CAE Company Profile

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.