CAE (TSE:CAE) Shares Down 2.8% – Here’s What Happened

CAE Inc. (TSE:CAE) (NYSE:CAE) traded down 2.8% on Thursday . The stock traded as low as C$35.43 and last traded at C$35.47. 112,415 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 658,614 shares. The stock had previously closed at C$36.50.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. CIBC lifted their target price on shares of CAE from C$33.00 to C$37.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Canaccord Genuity Group boosted their price target on shares of CAE from C$28.00 to C$30.00 in a research report on Thursday, November 14th. BMO Capital Markets increased their price objective on shares of CAE from C$33.00 to C$38.00 and gave the company an “outperform” rating in a report on Monday, December 23rd. Scotiabank boosted their target price on CAE from C$30.00 to C$32.50 in a report on Thursday, November 14th. Finally, Cibc World Mkts cut CAE from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 4th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$34.94.

CAE Trading Up 0.3 %

The company has a debt-to-equity ratio of 74.24, a current ratio of 0.89 and a quick ratio of 0.71. The business’s 50-day simple moving average is C$31.49 and its 200-day simple moving average is C$27.16. The company has a market cap of C$11.22 billion, a price-to-earnings ratio of -32.89, a PEG ratio of 1.76 and a beta of 1.91.

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.