CAE (NYSE:CAE) Stock Price Down 3.2% - Here's What Happened

CAE Inc. (NYSE:CAE - Get Free Report) TSE: CAE shares traded down 3.2% during trading on Tuesday . The stock traded as low as $25.99 and last traded at $26.01. 123,842 shares changed hands during trading, a decline of 78% from the average session volume of 558,415 shares. The stock had previously closed at $26.87.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Wall Street Zen raised shares of CAE from a "hold" rating to a "buy" rating in a report on Tuesday, May 27th. Bank of America raised shares of CAE from an "underperform" rating to a "neutral" rating in a report on Friday, March 7th. Scotiabank raised shares of CAE from a "sector perform" rating to a "sector outperform" rating in a report on Thursday, May 15th. CIBC reaffirmed a "neutral" rating on shares of CAE in a report on Thursday, May 15th. Finally, Royal Bank of Canada cut shares of CAE from an "outperform" rating to a "sector perform" rating and decreased their price objective for the company from $41.00 to $38.00 in a research note on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $32.33.

CAE Trading Up 0.3%

The business's 50 day simple moving average is $24.49 and its two-hundred day simple moving average is $24.28. The stock has a market cap of $8.38 billion, a P/E ratio of -50.35, a PEG ratio of 1.94 and a beta of 1.28. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.70.

CAE (NYSE:CAE - Get Free Report) TSE: CAE last posted 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 for the quarter, compared to analysts' expectations of $1.30 billion. CAE had a negative net margin of 4.96% and a positive return on equity of 6.11%. The company's revenue was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.37 earnings per share. As a group, analysts expect that CAE Inc. will post 0.83 EPS for the current year.

Institutional Trading of CAE

Hedge funds and other institutional investors have recently modified their holdings of the stock. Asset Planning Inc acquired a new position in CAE during the 4th quarter worth about $30,000. Natixis acquired a new position in CAE during the 4th quarter worth about $38,000. Versant Capital Management Inc acquired a new position in shares of CAE in the 1st quarter valued at about $53,000. UniSuper Management Pty Ltd acquired a new position in shares of CAE in the 4th quarter valued at about $147,000. Finally, Allworth Financial LP lifted its stake in shares of CAE by 14.2% in the 4th quarter. Allworth Financial LP now owns 7,321 shares of the aerospace company's stock valued at $177,000 after purchasing an additional 913 shares during the period. Institutional investors 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.