CAE (NYSE:CAE) Downgraded by Morgan Stanley

Morgan Stanley cut shares of CAE (NYSE:CAE) (TSE:CAE) from an overweight rating to an equal weight rating in a research note issued to investors on Friday morning, Marketbeat.com reports.

Several other research firms have also issued reports on CAE. Canaccord Genuity Group restated a hold rating on shares of CAE in a report on Wednesday, May 22nd. Desjardins lowered shares of CAE from a buy rating to a hold rating in a report on Tuesday, May 21st. StockNews.com cut shares of CAE from a buy rating to a hold rating in a research report on Wednesday, May 22nd. Jefferies Financial Group began coverage on CAE in a research report on Thursday, June 6th. They issued a hold rating and a $21.00 price objective for the company. Finally, Royal Bank of Canada raised CAE from a hold rating to a moderate buy rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has 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 $28.00.

CAE Price Performance

CAE stock opened at $17.41 on Friday. The company has a market capitalization of $5.56 billion, a P/E ratio of -24.18, a PEG ratio of 1.25 and a beta of 1.67. CAE has a 52-week low of $15.95 and a 52-week high of $25.04. The company has a fifty day moving average price of $18.19 and a 200-day moving average price of $19.13. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.61 and a current ratio of 0.85.

CAE (NYSE:CAE) (TSE:CAE) last released its quarterly earnings results on Tuesday, August 13th. The aerospace company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. CAE had a positive return on equity of 6.10% and a negative net margin of 6.97%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the company posted $0.18 EPS. The business’s revenue was up 6.0% on a year-over-year basis. As a group, equities analysts expect that CAE will post 0.86 EPS for the current year.

Institutional Trading of CAE

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JARISLOWSKY FRASER Ltd grew its stake in CAE by 1.3% in the second quarter. JARISLOWSKY FRASER Ltd now owns 22,249,466 shares of the aerospace company’s stock valued at $413,168,000 after acquiring an additional 284,768 shares during the period. Vanguard Group Inc. lifted its holdings in shares of CAE by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 10,832,988 shares of the aerospace company’s stock worth $223,593,000 after purchasing an additional 127,504 shares in the last quarter. National Bank of Canada FI grew its position in CAE by 36.4% in the 2nd quarter. National Bank of Canada FI now owns 5,498,732 shares of the aerospace company’s stock valued at $101,559,000 after purchasing an additional 1,466,880 shares during the period. Earnest Partners LLC acquired a new position in CAE during the second quarter worth $82,597,000. Finally, Public Sector Pension Investment Board lifted its stake in shares of CAE by 14.5% in the fourth quarter. Public Sector Pension Investment Board now owns 3,932,914 shares of the aerospace company’s stock valued at $85,304,000 after buying an additional 496,640 shares in the last quarter. 67.36% of the stock is owned by institutional investors.

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, Oceania and Africa, and Rest of Americas. It operates through three segments: Civil Aviation, Defense and Security, and Healthcare.