CAE (NYSE:CAE) Rating Increased to Sector Outperform at Scotiabank

CAE (NYSE:CAE) (TSE:CAE) was upgraded by equities researchers at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a report released on Thursday,Finviz reports.

Several other brokerages also recently weighed in on CAE. Bank of America raised CAE from an “underperform” rating to a “neutral” rating in a report on Friday, March 7th. The Goldman Sachs Group raised their price objective on CAE from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. StockNews.com upgraded CAE from a “hold” rating to a “buy” rating in a report on Saturday, April 12th. National Bank Financial raised CAE from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $43.00 target price on shares of CAE in a report on Wednesday, March 12th. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $32.00.

CAE Stock Performance

Shares of NYSE CAE opened at $24.43 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.63 and a current ratio of 0.86. CAE has a 52 week low of $15.95 and a 52 week high of $27.62. The stock has a market capitalization of $7.82 billion, a PE ratio of -46.98, a price-to-earnings-growth ratio of 1.94 and a beta of 1.26. The stock has a 50 day moving average price of $24.18 and a 200 day moving average price of $23.60.

CAE (NYSE:CAE) (TSE:CAE) last released its quarterly earnings results on Tuesday, May 13th. The aerospace company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $886.20 million during the quarter, compared to analyst estimates of $1.30 billion. CAE had a negative net margin of 4.96% and a positive return on equity of 6.11%. Analysts predict that CAE will post 0.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CAE

Hedge funds have recently added to or reduced their stakes in the stock. Addenda Capital Inc. lifted its holdings in CAE by 0.5% during the fourth quarter. Addenda Capital Inc. now owns 398,803 shares of the aerospace company’s stock valued at $10,122,000 after purchasing an additional 2,110 shares in the last quarter. Hantz Financial Services Inc. grew its position in shares of CAE by 4.1% during the 4th quarter. Hantz Financial Services Inc. now owns 95,302 shares of the aerospace company’s stock valued at $2,419,000 after buying an additional 3,741 shares during the last quarter. Stanley Laman Group Ltd. increased its stake in CAE by 3.2% during the 4th quarter. Stanley Laman Group Ltd. now owns 231,652 shares of the aerospace company’s stock valued at $5,879,000 after buying an additional 7,260 shares during the period. Asset Planning Inc purchased a new position in shares of CAE during the fourth quarter valued at $30,000. Finally, Allworth Financial LP increased its position in CAE by 14.2% during the fourth quarter. Allworth Financial LP now owns 7,321 shares of the aerospace company’s stock worth $177,000 after buying an additional 913 shares during the last quarter. 67.36% of the stock is currently owned by institutional investors.

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.