CAE Inc. (NYSE:CAE) Sees Large Decline in Short Interest

CAE Inc. (NYSE:CAE) (TSE:CAE) was the target of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 2,280,000 shares, a decline of 8.8% from the March 31st total of 2,500,000 shares. Based on an average daily trading volume, of 605,800 shares, the days-to-cover ratio is currently 3.8 days. Currently, 0.7% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CAE shares. The Goldman Sachs Group increased their price objective on shares of CAE from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. StockNews.com upgraded CAE from a “hold” rating to a “buy” rating in a research note on Tuesday, February 20th. Finally, Scotiabank lowered shares of CAE from a “sector outperform” rating to a “sector perform” rating in a research report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.75.

Institutional Trading of CAE

Several hedge funds have recently made changes to their positions in CAE. Massmutual Trust Co. FSB ADV increased its stake in CAE by 142.8% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,202 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 707 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in CAE during the 3rd quarter valued at $29,000. Hillsdale Investment Management Inc. lifted its position in CAE by 45.5% in the fourth quarter. Hillsdale Investment Management Inc. now owns 1,600 shares of the aerospace company’s stock worth $35,000 after buying an additional 500 shares during the last quarter. Allworth Financial LP boosted its stake in CAE by 678.3% during the third quarter. Allworth Financial LP now owns 1,541 shares of the aerospace company’s stock worth $36,000 after buying an additional 1,343 shares during the period. Finally, Spire Wealth Management increased its position in CAE by 52.8% during the first quarter. Spire Wealth Management now owns 2,018 shares of the aerospace company’s stock valued at $42,000 after acquiring an additional 697 shares during the last quarter. 67.36% of the stock is currently owned by hedge funds and other institutional investors.

CAE Price Performance

NYSE:CAE traded up $0.32 during trading hours on Monday, reaching $19.36. The stock had a trading volume of 657,487 shares, compared to its average volume of 553,552. The stock has a market capitalization of $6.16 billion, a PE ratio of 30.25, a PEG ratio of 1.43 and a beta of 1.58. CAE has a 52 week low of $18.26 and a 52 week high of $25.04. The company has a 50 day moving average price of $19.52 and a two-hundred day moving average price of $20.37. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.68 and a current ratio of 0.90.

CAE (NYSE:CAE) (TSE:CAE) last announced its quarterly earnings results on Wednesday, February 14th. The aerospace company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. CAE had a net margin of 6.20% and a return on equity of 7.52%. The company had revenue of $804.01 million for the quarter, compared to analysts’ expectations of $807.13 million. As a group, sell-side analysts anticipate that CAE will post 0.85 earnings per share for the current fiscal year.

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.