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

CAE Inc. (NYSE:CAE) (TSE:CAE)’s stock price dropped 3.2% on Thursday . The stock traded as low as $24.55 and last traded at $24.58. Approximately 88,509 shares changed hands during trading, a decline of 85% from the average daily volume of 576,737 shares. The stock had previously closed at $25.38.

Analysts Set New Price Targets

Several brokerages have issued reports on CAE. StockNews.com raised shares of CAE from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Cibc World Mkts downgraded CAE from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 4th. Finally, Desjardins upgraded CAE from a “hold” rating to a “buy” rating in a research report on Monday, December 23rd. Six investment analysts have rated the stock with a hold rating and three have given 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 $25.00.

CAE Stock Performance

The firm has a market cap of $7.75 billion, a PE ratio of -31.60, a P/E/G ratio of 1.73 and a beta of 1.74. The stock has a 50-day moving average price of $22.39 and a 200 day moving average price of $19.64. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.84 and a quick ratio of 0.59.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CAE. JARISLOWSKY FRASER Ltd lifted its stake in shares of CAE by 1.3% in the 2nd quarter. JARISLOWSKY FRASER Ltd now owns 22,249,466 shares of the aerospace company’s stock valued at $413,168,000 after purchasing an additional 284,768 shares in the last quarter. Brandes Investment Partners LP lifted its position in CAE by 103.8% during the second quarter. Brandes Investment Partners LP now owns 11,071,485 shares of the aerospace company’s stock valued at $206,027,000 after buying an additional 5,640,269 shares in the last quarter. National Bank of Canada FI grew its stake in CAE by 13.4% during the third quarter. National Bank of Canada FI now owns 6,235,627 shares of the aerospace company’s stock worth $117,023,000 after buying an additional 736,895 shares during the period. Bank of Montreal Can increased its position in shares of CAE by 1.6% in the third quarter. Bank of Montreal Can now owns 5,057,860 shares of the aerospace company’s stock worth $93,446,000 after acquiring an additional 77,489 shares in the last quarter. Finally, Earnest Partners LLC purchased a new position in shares of CAE in the 2nd quarter valued at $82,597,000. 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.