Royal Bank of Canada Issues Positive Forecast for CAE (NYSE:CAE) Stock Price

CAE (NYSE:CAE) (TSE:CAE) had its price objective upped by Royal Bank of Canada from $38.00 to $43.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the aerospace company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 62.12% from the stock’s previous close.

CAE has been the topic of several other reports. National Bank Financial cut CAE from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, January 22nd. Cibc World Mkts cut CAE from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 4th. StockNews.com cut CAE from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Desjardins raised CAE from a “hold” rating to a “buy” rating in a research report on Monday, December 23rd. Finally, TD Securities downgraded CAE from a “buy” rating to a “hold” rating in a report on Monday, January 6th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, CAE has a consensus rating of “Hold” and an average price target of $31.00.

CAE Price Performance

CAE traded down $0.26 during trading on Tuesday, reaching $26.52. The company’s stock had a trading volume of 280,583 shares, compared to its average volume of 519,296. The company has a market cap of $8.48 billion, a price-to-earnings ratio of -34.39, a PEG ratio of 1.79 and a beta of 1.72. The firm has a fifty day simple moving average of $24.12 and a two-hundred day simple moving average of $20.84. CAE has a 1 year low of $15.95 and a 1 year high of $27.62. 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 (NYSE:CAE) (TSE:CAE) last announced its quarterly earnings data on Thursday, February 13th. The aerospace company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. CAE had a positive return on equity of 5.79% and a negative net margin of 7.49%. As a group, analysts anticipate that CAE will post 0.83 EPS for the current year.

Hedge Funds Weigh In On CAE

Several institutional investors have recently bought and sold shares of CAE. Asset Planning Inc acquired a new stake in shares of CAE in the fourth quarter valued at about $30,000. Cromwell Holdings LLC boosted its stake in shares of CAE by 103.4% during the 3rd quarter. Cromwell Holdings LLC now owns 1,800 shares of the aerospace company’s stock worth $34,000 after acquiring an additional 915 shares in the last quarter. Natixis acquired a new stake in shares of CAE in the 4th quarter worth approximately $38,000. Venturi Wealth Management LLC purchased a new stake in CAE during the third quarter worth $74,000. Finally, Allworth Financial LP increased its position in shares of CAE by 26.1% in the third quarter. Allworth Financial LP now owns 6,408 shares of the aerospace company’s stock valued at $120,000 after buying an additional 1,327 shares in the last quarter. 67.36% of the stock is owned by institutional investors and hedge funds.

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.