Canaccord Genuity Group Reaffirms “Hold” Rating for CAE (NYSE:CAE)

Canaccord Genuity Group reaffirmed their hold rating on shares of CAE (NYSE:CAE) (TSE:CAE) in a report released on Wednesday, StockNewsAPI reports.

A number of other research analysts have also issued reports on the stock. Canaccord Genuity Group lowered shares of CAE from a buy rating to a hold rating in a report on Wednesday. Desjardins downgraded shares of CAE from a buy rating to a hold rating in a research note on Tuesday, May 21st. StockNews.com raised shares of CAE from a hold rating to a buy rating in a research note on Tuesday, February 20th. Finally, The Goldman Sachs Group increased their price objective on CAE from $25.00 to $29.00 and gave the company a buy rating in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $34.75.

CAE Price Performance

CAE stock opened at $18.65 on Wednesday. The stock has a 50-day moving average price of $19.89 and a two-hundred day moving average price of $20.23. CAE has a 12 month low of $17.40 and a 12 month high of $25.04. The company has a market capitalization of $5.94 billion, a PE ratio of 29.14, a P/E/G ratio of 1.41 and a beta of 1.58. The company has a current ratio of 0.90, a quick ratio of 0.68 and a debt-to-equity ratio of 0.55.

Institutional Investors Weigh In On CAE

Several large investors have recently modified their holdings of the company. Clearbridge Investments LLC boosted its position in CAE by 12.9% during the third quarter. Clearbridge Investments LLC now owns 4,717,835 shares of the aerospace company’s stock valued at $110,161,000 after acquiring an additional 538,838 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of CAE by 6.7% during the 4th quarter. Mackenzie Financial Corp now owns 33,315,745 shares of the aerospace company’s stock valued at $719,443,000 after purchasing an additional 2,083,595 shares in the last quarter. Pacifica Partners Inc. grew its stake in CAE by 24.6% during the fourth quarter. Pacifica Partners Inc. now owns 4,013 shares of the aerospace company’s stock worth $81,000 after purchasing an additional 793 shares during the period. Vanguard Group Inc. increased its holdings in CAE by 1.5% in the third quarter. Vanguard Group Inc. now owns 10,606,797 shares of the aerospace company’s stock worth $247,669,000 after purchasing an additional 152,778 shares in the last quarter. Finally, Phoenix Holdings Ltd. acquired a new position in CAE in the third quarter valued at approximately $1,417,000. 67.36% of the stock is currently 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, Oceania and Africa, and Rest of Americas. It operates through three segments: Civil Aviation, Defense and Security, and Healthcare.