CAE (NYSE:CAE) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

CAE Inc (NYSE:CAE) (TSE:CAE) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $28.76 and traded as high as $32.17. CAE shares last traded at $30.9370, with a volume of 1,202,447 shares.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. TD Securities reiterated a “buy” rating on shares of CAE in a research note on Monday, January 12th. Zacks Research raised shares of CAE from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Weiss Ratings reissued a “hold (c+)” rating on shares of CAE in a report on Monday, December 29th. Scotiabank reaffirmed an “outperform” rating on shares of CAE in a research note on Wednesday, January 21st. Finally, Royal Bank Of Canada lowered their target price on shares of CAE from $41.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 13th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.33.

CAE Stock Performance

The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.59 and a current ratio of 0.83. The firm’s 50 day moving average is $30.74 and its 200-day moving average is $28.76. The company has a market cap of $9.95 billion, a PE ratio of 31.89, a PEG ratio of 2.43 and a beta of 1.11.

CAE (NYSE:CAE) (TSE:CAE) last posted its quarterly earnings results on Tuesday, November 11th. The aerospace company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. CAE had a return on equity of 7.60% and a net margin of 8.98%.The business had revenue of $897.99 million during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the business earned $0.24 earnings per share. The business’s revenue was up 8.8% compared to the same quarter last year. On average, research analysts anticipate that CAE Inc will post 0.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CAE

A number of institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of CAE during the 2nd quarter valued at approximately $118,239,000. Goldman Sachs Group Inc. boosted its stake in CAE by 142.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,709,480 shares of the aerospace company’s stock worth $42,036,000 after buying an additional 1,004,820 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of CAE by 356.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,135,546 shares of the aerospace company’s stock valued at $33,267,000 after acquiring an additional 886,951 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of CAE by 17.9% in the 3rd quarter. Bank of Montreal Can now owns 4,347,481 shares of the aerospace company’s stock worth $128,706,000 after acquiring an additional 658,837 shares during the last quarter. Finally, Brandes Investment Partners LP boosted its position in shares of CAE by 4.4% during the second quarter. Brandes Investment Partners LP now owns 14,803,106 shares of the aerospace company’s stock worth $433,287,000 after buying an additional 628,848 shares during the period. 67.36% of the stock is owned by hedge funds and other institutional investors.

CAE Company Profile

CAE Inc is a global leader in training and simulation technologies, headquartered in Montréal, Canada. The company specializes in the design and manufacture of high-fidelity flight simulators and training systems for civil aviation, defense and security, and healthcare markets. Leveraging advanced software and hardware integration, CAE delivers comprehensive training solutions that address pilot proficiency, mission readiness and patient safety across a wide range of platforms.

In civil aviation, CAE partners with major airlines, aircraft manufacturers and flight schools to provide pilot training services, courseware development and crew scheduling solutions.