CAE (TSE:CAE) Downgraded by Morgan Stanley to “Underweight”

CAE (TSE:CAE) (NYSE:CAE) was downgraded by equities research analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research note issued to investors on Wednesday,BayStreet.CA reports. They currently have a C$37.00 price objective on the stock, down from their previous price objective of C$43.00. Morgan Stanley’s price objective points to a potential upside of 7.62% from the stock’s previous close.

CAE has been the topic of several other research reports. Desjardins dropped their price target on shares of CAE from C$52.00 to C$50.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. TD lowered their target price on CAE from C$49.00 to C$43.00 and set a “buy” rating for the company in a research note on Monday, May 25th. TD Securities dropped their target price on CAE from C$54.00 to C$53.00 and set a “buy” rating on the stock in a research report on Tuesday, March 24th. Scotia cut their price target on CAE from C$56.00 to C$50.00 and set a “sector outperform” rating on the stock in a research note on Friday, May 22nd. Finally, Stifel Nicolaus reduced their price target on CAE from C$50.00 to C$47.00 and set a “buy” rating for the company in a report on Tuesday, May 26th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$47.92.

CAE Stock Down 2.0%

TSE:CAE traded down C$0.70 during trading hours on Wednesday, hitting C$34.38. The stock had a trading volume of 682,277 shares, compared to its average volume of 936,990. The company has a current ratio of 0.96, a quick ratio of 0.71 and a debt-to-equity ratio of 60.97. CAE has a 1-year low of C$31.42 and a 1-year high of C$47.65. The business has a 50 day simple moving average of C$35.60 and a two-hundred day simple moving average of C$38.69. The company has a market cap of C$11.06 billion, a PE ratio of 35.44, a price-to-earnings-growth ratio of 1.76 and a beta of 0.57.

CAE (TSE:CAE) (NYSE:CAE) last posted its earnings results on Thursday, May 21st. The company reported C$0.42 EPS for the quarter. The business had revenue of C$1.33 billion for the quarter. CAE had a net margin of 6.37% and a return on equity of 6.12%.

Insider Activity at CAE

In other news, insider Mark Hounsell sold 2,673 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of C$35.39, for a total value of C$94,597.47. Following the completion of the sale, the insider owned 35,687 shares of the company’s stock, valued at approximately C$1,262,962.93. The trade was a 6.97% decrease in their position. Also, Director Matthew Bromberg sold 64,710 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of C$35.60, for a total transaction of C$2,303,676.00. Following the completion of the sale, the director owned 46,915 shares in the company, valued at approximately C$1,670,174. This trade represents a 57.97% decrease in their position. Insiders sold 87,975 shares of company stock worth $3,127,182 over the last 90 days. Company insiders own 0.15% of the company’s stock.

About CAE

CAE Inc is a global company focused on delivering training for the civil aviation, defense, security, and healthcare markets. Multiple types of simulators and synthetic exercises may be sold to customers to serve as alternatives for live-training experiences. The company’s training solutions are provided through products and services. CAE has many different training locations where clients can be trained and educated through a series of programs. Additionally, part of the revenues come from supplying aviation personnel on a lease, along with providing aviation support organizations.