CAE (NYSE:CAE) Downgraded to Hold at Royal Bank of Canada

Royal Bank of Canada cut shares of CAE (NYSE:CAE) (TSE:CAE) from a moderate buy rating to a hold rating in a research report report published on Tuesday morning, Zacks.com reports.

A number of other brokerages have also weighed in on CAE. The Goldman Sachs Group raised their price target on shares of CAE from $25.00 to $29.00 and gave the company a buy rating in a research note on Tuesday, April 16th. Canaccord Genuity Group reaffirmed a hold rating on shares of CAE in a research note on Wednesday, May 22nd. Canaccord Genuity Group lowered shares of CAE from a buy rating to a hold rating in a research note on Wednesday, May 22nd. Jefferies Financial Group began coverage on shares of CAE in a research note on Thursday, June 6th. They issued a hold rating and a $21.00 price target on the stock. Finally, StockNews.com lowered shares of CAE from a buy rating to a hold rating in a research note on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $32.00.

CAE Price Performance

NYSE:CAE opened at $19.17 on Tuesday. CAE has a 52 week low of $17.40 and a 52 week high of $25.04. The company has a quick ratio of 0.61, a current ratio of 0.85 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $6.10 billion, a PE ratio of -26.63, a price-to-earnings-growth ratio of 1.32 and a beta of 1.67. The stock’s 50-day moving average price is $19.29 and its 200-day moving average price is $19.83.

CAE (NYSE:CAE) (TSE:CAE) last posted its earnings results on Monday, May 27th. The aerospace company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.16). CAE had a negative net margin of 6.97% and a positive return on equity of 6.10%. The business had revenue of $835.47 million for the quarter, compared to analyst estimates of $863.18 million. During the same quarter last year, the business earned $0.26 earnings per share. As a group, equities analysts expect that CAE will post 0.89 EPS for the current fiscal year.

Institutional Trading of CAE

Institutional investors have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc increased its holdings in CAE by 21.3% in the 4th quarter. CIBC Asset Management Inc now owns 681,156 shares of the aerospace company’s stock valued at $14,749,000 after purchasing an additional 119,411 shares during the last quarter. Mackenzie Financial Corp increased its holdings in CAE by 6.7% in 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 during the last quarter. Norges Bank acquired a new position in shares of CAE in the fourth quarter worth $74,413,000. Pacifica Partners Inc. grew its stake in shares of CAE by 24.6% in the fourth quarter. Pacifica Partners Inc. now owns 4,013 shares of the aerospace company’s stock worth $81,000 after acquiring an additional 793 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of 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 acquiring an additional 152,778 shares in the last quarter. Institutional investors and hedge funds own 67.36% of the company’s stock.

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.