Short Interest in CAE Inc. (NYSE:CAE) Declines By 16.4%

CAE Inc. (NYSE:CAE) (TSE:CAE) was the recipient of a significant decline in short interest in March. As of March 15th, there was short interest totalling 3,260,000 shares, a decline of 16.4% from the February 28th total of 3,900,000 shares. Based on an average trading volume of 515,000 shares, the days-to-cover ratio is currently 6.3 days. Currently, 1.0% of the shares of the stock are short sold.

Institutional Investors Weigh In On CAE

A number of institutional investors have recently modified their holdings of the company. Asset Planning Inc acquired a new position in CAE in the fourth quarter valued at $30,000. Natixis acquired a new position in shares of CAE in the 4th quarter valued at about $38,000. UniSuper Management Pty Ltd bought a new stake in shares of CAE during the 4th quarter valued at about $147,000. Allworth Financial LP grew its stake 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 purchasing an additional 913 shares during the period. Finally, First Trust Advisors LP bought a new stake in CAE in the fourth quarter worth approximately $213,000. 67.36% of the stock is owned by institutional investors.

CAE Trading Up 0.1 %

CAE traded up $0.02 during midday trading on Tuesday, hitting $24.61. 618,989 shares of the company were exchanged, compared to its average volume of 572,802. The firm’s 50 day moving average price is $24.51 and its 200-day moving average price is $22.37. CAE has a 1-year low of $15.95 and a 1-year high of $27.62. The firm has a market capitalization of $7.88 billion, a P/E ratio of -47.32, a P/E/G ratio of 1.94 and a beta of 1.74. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.70.

CAE (NYSE:CAE) (TSE:CAE) last posted 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 6.11% and a negative net margin of 4.96%. As a group, equities analysts forecast that CAE will post 0.83 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Bank of America upgraded shares of CAE from an “underperform” rating to a “neutral” rating in a research note on Friday, March 7th. Desjardins upgraded shares of CAE from a “hold” rating to a “buy” rating in a research report on Monday, December 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $43.00 price target on shares of CAE in a report on Wednesday, March 12th. The Goldman Sachs Group raised their price objective on CAE from $28.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Finally, Cibc World Mkts cut CAE from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 4th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $32.00.

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.