CAE (NYSE:CAE) Stock Price Crosses Above 200-Day Moving Average - Here's What Happened

CAE Inc (NYSE:CAE - Get Free Report) TSE: CAE passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $24.95 and traded as high as $29.95. CAE shares last traded at $29.74, with a volume of 760,903 shares changing hands.

Analysts Set New Price Targets

CAE has been the topic of several recent research reports. BMO Capital Markets reaffirmed an "outperform" rating on shares of CAE in a report on Wednesday, May 14th. Scotiabank upgraded shares of CAE from a "sector perform" rating to a "sector outperform" rating in a research report on Thursday, May 15th. Wall Street Zen upgraded shares of CAE from a "hold" rating to a "buy" rating in a research report on Tuesday, May 27th. CIBC restated a "neutral" rating on shares of CAE in a research report on Thursday, May 15th. Finally, Cibc World Mkts upgraded shares of CAE from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. Six equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, CAE has a consensus rating of "Moderate Buy" and an average target price of $33.00.

CAE Stock Up 0.3%

The firm's fifty day moving average price is $26.41 and its 200-day moving average price is $24.95. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.58. The firm has a market capitalization of $9.53 billion, a P/E ratio of 33.04, a PEG ratio of 2.45 and a beta of 1.30.

CAE (NYSE:CAE - Get Free Report) TSE: CAE last issued its earnings results on Tuesday, May 13th. The aerospace company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. The firm had revenue of $886.20 million during the quarter, compared to analysts' expectations of $1.30 billion. CAE had a net margin of 8.55% and a return on equity of 8.17%. The firm's revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period last year, the firm posted $0.37 earnings per share. As a group, equities research analysts forecast that CAE Inc will post 0.83 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CAE. Intech Investment Management LLC grew its stake in CAE by 108.8% in the 1st quarter. Intech Investment Management LLC now owns 180,771 shares of the aerospace company's stock valued at $4,444,000 after buying an additional 94,200 shares during the last quarter. Plato Investment Management Ltd grew its stake in CAE by 13.5% in the 1st quarter. Plato Investment Management Ltd now owns 37,746 shares of the aerospace company's stock valued at $938,000 after buying an additional 4,502 shares during the last quarter. United Services Automobile Association grew its stake in CAE by 4.5% in the 1st quarter. United Services Automobile Association now owns 10,822 shares of the aerospace company's stock valued at $265,000 after buying an additional 462 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in CAE by 142.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,709,480 shares of the aerospace company's stock valued at $42,036,000 after buying an additional 1,004,820 shares during the last quarter. Finally, Select Equity Group L.P. grew its stake in CAE by 16.7% in the 1st quarter. Select Equity Group L.P. now owns 7,863,984 shares of the aerospace company's stock valued at $193,314,000 after buying an additional 1,122,470 shares during the last quarter. Institutional investors and hedge funds own 67.36% of the company's stock.

About CAE

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.

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