CAE (NYSE:CAE) Stock Price Down 3.2% – Here’s What Happened

Shares of CAE Inc. (NYSE:CAE) (TSE:CAE) were down 3.2% during mid-day trading on Thursday . The company traded as low as $24.55 and last traded at $24.58. Approximately 88,509 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 576,737 shares. The stock had previously closed at $25.38.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CAE. Cibc World Mkts downgraded CAE from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 4th. StockNews.com raised shares of CAE from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, Desjardins raised shares of CAE from a “hold” rating to a “buy” rating in a report on Monday, December 23rd. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $25.00.

CAE Trading Down 0.2 %

The company has a market cap of $7.75 billion, a P/E ratio of -31.60, a P/E/G ratio of 1.73 and a beta of 1.74. The business has a fifty day simple moving average of $22.39 and a 200 day simple moving average of $19.64. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.59 and a current ratio of 0.84.

Hedge Funds Weigh In On CAE

A number of hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can lifted its position in shares of CAE by 1.6% in the 3rd quarter. Bank of Montreal Can now owns 5,057,860 shares of the aerospace company’s stock worth $93,446,000 after buying an additional 77,489 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in CAE by 9.5% in the second quarter. Canada Pension Plan Investment Board now owns 1,033,296 shares of the aerospace company’s stock worth $19,188,000 after acquiring an additional 89,800 shares during the last quarter. Clearline Capital LP bought a new position in CAE in the second quarter worth about $2,290,000. Intech Investment Management LLC acquired a new position in CAE in the third quarter valued at approximately $2,432,000. Finally, Pinnacle Associates Ltd. grew its holdings in shares of CAE by 3.8% during the third quarter. Pinnacle Associates Ltd. now owns 874,588 shares of the aerospace company’s stock valued at $16,399,000 after purchasing an additional 32,328 shares during the last quarter. Institutional investors and hedge funds own 67.36% of the company’s stock.

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.