Canaccord Genuity Group Begins Coverage on CAE (NYSE:CAE)

Investment analysts at Canaccord Genuity Group started coverage on shares of CAE (NYSE:CAE) (TSE:CAE) in a report issued on Friday, MarketBeat.com reports. The brokerage set a “buy” rating on the aerospace company’s stock.

Several other equities analysts have also recently weighed in on the company. Weiss Ratings cut CAE from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, February 17th. TD Securities reaffirmed a “buy” rating on shares of CAE in a report on Tuesday, February 17th. Stifel Nicolaus began coverage on CAE in a research report on Wednesday, March 4th. They set a “buy” rating for the company. Royal Bank Of Canada cut their target price on shares of CAE from $41.00 to $40.00 and set a “sector perform” rating for the company in a report on Thursday, November 13th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of CAE in a research note on Tuesday, February 17th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.33.

CAE Stock Up 1.1%

Shares of CAE stock opened at $27.38 on Friday. The company’s fifty day simple moving average is $31.20 and its two-hundred day simple moving average is $29.09. CAE has a 52 week low of $20.36 and a 52 week high of $34.24. The stock has a market cap of $8.81 billion, a P/E ratio of 32.98, a PEG ratio of 3.23 and a beta of 1.11. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 0.57.

CAE (NYSE:CAE) (TSE:CAE) last issued its quarterly earnings data on Thursday, February 12th. The aerospace company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. CAE had a return on equity of 7.75% and a net margin of 7.70%.The firm had revenue of $911.78 million during the quarter, compared to analyst estimates of $922.62 million. During the same quarter last year, the business posted $0.29 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. Analysts predict that CAE will post 0.83 EPS for the current fiscal year.

Institutional Investors Weigh In On CAE

Institutional investors have recently modified their holdings of the stock. Transamerica Financial Advisors LLC increased its position in shares of CAE by 170.7% during the 4th quarter. Transamerica Financial Advisors LLC now owns 1,267 shares of the aerospace company’s stock valued at $39,000 after purchasing an additional 799 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in CAE in the fourth quarter worth $41,000. CIBC Private Wealth Group LLC purchased a new position in CAE during the third quarter worth $42,000. Brown Brothers Harriman & Co. bought a new position in CAE during the fourth quarter valued at $47,000. Finally, Employees Retirement System of Texas bought a new position in CAE during the second quarter valued at $80,000. 67.36% of the stock is owned by 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.