Parallel Advisors LLC Decreases Stock Position in CAE Inc. (NYSE:CAE)

Parallel Advisors LLC reduced its holdings in shares of CAE Inc. (NYSE:CAE) (TSE:CAE) by 34.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,445 shares of the aerospace company’s stock after selling 759 shares during the quarter. Parallel Advisors LLC’s holdings in CAE were worth $36,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Asset Planning Inc acquired a new position in shares of CAE during the fourth quarter valued at $30,000. Natixis purchased a new stake in shares of CAE in the 4th quarter valued at approximately $38,000. Versant Capital Management Inc purchased a new stake in shares of CAE in the 1st quarter valued at approximately $53,000. UniSuper Management Pty Ltd purchased a new stake in CAE in the 4th quarter worth approximately $147,000. Finally, Allworth Financial LP lifted its position in CAE by 14.2% in the 4th quarter. Allworth Financial LP now owns 7,321 shares of the aerospace company’s stock worth $177,000 after buying an additional 913 shares in the last quarter. Institutional investors and hedge funds own 67.36% of the company’s stock.

CAE Trading Up 2.4%

CAE opened at $27.26 on Tuesday. CAE Inc. has a twelve month low of $15.95 and a twelve month high of $27.62. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The company has a fifty day moving average of $24.58 and a 200-day moving average of $24.35. The stock has a market cap of $8.73 billion, a PE ratio of -52.42, a price-to-earnings-growth ratio of 1.94 and a beta of 1.28.

CAE (NYSE:CAE) (TSE:CAE) last announced its quarterly earnings data on Tuesday, May 13th. The aerospace company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.32 by $0.01. CAE had a negative net margin of 4.96% and a positive return on equity of 6.11%. The business had revenue of $886.20 million for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the previous year, the firm posted $0.37 earnings per share. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. On average, sell-side analysts predict that CAE Inc. will post 0.83 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Scotiabank upgraded shares of CAE from a “sector perform” rating to a “sector outperform” rating in a report on Thursday, May 15th. Jefferies Financial Group decreased their target price on shares of CAE from $28.00 to $27.00 and set a “hold” rating on the stock in a research report on Friday, May 16th. The Goldman Sachs Group boosted their target price on shares of CAE from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. National Bank Financial upgraded shares of CAE from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 6th. Finally, BMO Capital Markets restated an “outperform” rating on shares of CAE in a report on Wednesday, May 14th. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $32.33.

CAE 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.