CAE (NYSE:CAE) Price Target Cut to $34.00

CAE (NYSE:CAE) (TSE:CAE) had its price target lowered by stock analysts at Royal Bank of Canada from $37.00 to $34.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the aerospace company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 63.07% from the stock’s previous close.

Several other research firms also recently commented on CAE. TD Securities raised their price objective on shares of CAE from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, August 10th. StockNews.com downgraded shares of CAE from a “buy” rating to a “hold” rating in a report on Monday. Bank of America raised their price target on shares of CAE from $33.00 to $37.00 and gave the company a “neutral” rating in a report on Tuesday, August 15th. Finally, The Goldman Sachs Group raised their price target on shares of CAE from $27.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, August 10th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $35.43.

CAE Trading Up 0.1 %

Shares of CAE stock opened at $20.85 on Wednesday. The company has a 50 day moving average of $22.46 and a 200-day moving average of $22.34. The company has a quick ratio of 0.73, a current ratio of 1.03 and a debt-to-equity ratio of 0.68. CAE has a 12-month low of $18.74 and a 12-month high of $25.04. The firm has a market cap of $6.64 billion, a P/E ratio of 30.22, a PEG ratio of 1.74 and a beta of 1.68.

Hedge Funds Weigh In On CAE

A number of large investors have recently added to or reduced their stakes in CAE. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in CAE in the 3rd quarter worth $29,000. Tsfg LLC purchased a new position in shares of CAE in the second quarter valued at about $31,000. Allworth Financial LP increased its position in shares of CAE by 678.3% in the third quarter. Allworth Financial LP now owns 1,541 shares of the aerospace company’s stock valued at $36,000 after acquiring an additional 1,343 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of CAE by 85.5% in the third quarter. EverSource Wealth Advisors LLC now owns 2,029 shares of the aerospace company’s stock valued at $47,000 after acquiring an additional 935 shares during the period. Finally, Lazard Asset Management LLC purchased a new position in shares of CAE in the second quarter valued at about $55,000. Hedge funds and other institutional investors own 64.34% 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, Oceania and Africa, and Rest of Americas. It operates through three segments: Civil Aviation, Defense and Security, and Healthcare.