CAE Inc (CAE) Upgraded to Strong-Buy by Zacks Investment Research
CAE Inc (NYSE:CAE) (TSE:CAE) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday. The brokerage currently has a $19.00 price target on the aerospace company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 15.01% from the stock’s current price.
According to Zacks, “CAE is a world leader in providing simulation and modelling technologies, and integrated training services to the civil aviation industry and defence forces around the globe. The Company design, manufacture and supply simulation equipment and offer training and services. This includes integrated modelling, simulation and training solutions for commercial airlines, business aircraft operators, aircraft manufacturers and military organizations and a global network of training centres for pilots, and in some instances, cabin crew and maintenance workers. “
CAE has been the subject of several other reports. BidaskClub cut CAE from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. TD Securities cut CAE from a “buy” rating to a “hold” rating in a research note on Thursday, June 1st. Finally, BMO Capital Markets upgraded CAE from a “market perform” rating to an “outperform” rating and set a $23.00 price objective for the company in a research note on Wednesday. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $20.67.
CAE (NYSE CAE) traded up 0.92% during midday trading on Thursday, hitting $16.52. The company’s stock had a trading volume of 304,320 shares. The company has a market cap of $4.44 billion, a price-to-earnings ratio of 22.82 and a beta of 0.86. CAE has a one year low of $13.57 and a one year high of $17.88. The company’s 50-day moving average is $16.98 and its 200 day moving average is $15.97.
CAE (NYSE:CAE) (TSE:CAE) last released its quarterly earnings results on Thursday, August 10th. The aerospace company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by $0.01. CAE had a net margin of 8.96% and a return on equity of 13.24%. The business had revenue of $699 million during the quarter, compared to analysts’ expectations of $699.76 million. During the same quarter last year, the business posted $0.26 earnings per share. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, analysts predict that CAE will post $0.86 EPS for the current year.
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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Advisor Group Inc. raised its stake in CAE by 89.8% in the second quarter. Advisor Group Inc. now owns 7,091 shares of the aerospace company’s stock valued at $122,000 after buying an additional 3,354 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in CAE by 0.7% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,557 shares of the aerospace company’s stock valued at $130,000 after buying an additional 57 shares during the period. Mckinley Capital Management LLC Delaware bought a new stake in CAE during the first quarter valued at approximately $138,000. Trexquant Investment LP bought a new stake in CAE during the first quarter valued at approximately $173,000. Finally, Wetherby Asset Management Inc. bought a new stake in CAE during the first quarter valued at approximately $207,000. Hedge funds and other institutional investors own 53.31% of the company’s stock.
CAE Company Profile
CAE Inc provides training for the civil aviation, defense and security, and healthcare markets. The Company designs and integrates training solutions. It operates through three segments: Civil Aviation Training Solutions, Defense and Security, and Healthcare. The Company provides training solutions for flight, cabin, maintenance and ground personnel in commercial, business and helicopter aviation, a range of flight simulation training devices, as well as ab initio pilot training and crew sourcing services.
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