CAE (TSE:CAE) Shares Pass Above Fifty Day Moving Average - Here's What Happened

CAE Inc. (TSE:CAE - Get Free Report) NYSE: CAE crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$34.05 and traded as high as C$35.42. CAE shares last traded at C$35.10, with a volume of 1,965,511 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CAE shares. Royal Bank of Canada lowered shares of CAE from an "outperform" rating to a "sector perform" rating and reduced their target price for the company from C$41.00 to C$38.00 in a report on Wednesday, May 21st. National Bankshares upgraded shares of CAE from a "sector perform" rating to an "outperform" rating and upped their price target for the company from C$40.00 to C$43.00 in a research report on Wednesday, May 7th. Bank of America upgraded CAE from an "underperform" rating to a "neutral" rating and lifted their price objective for the stock from C$25.00 to C$45.00 in a report on Friday, March 7th. Canaccord Genuity Group dropped their target price on CAE from C$40.00 to C$38.50 and set a "hold" rating for the company in a report on Thursday, May 22nd. Finally, BMO Capital Markets raised their price target on CAE from C$39.00 to C$40.00 in a research report on Thursday, May 22nd. Seven analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, CAE has an average rating of "Moderate Buy" and an average target price of C$39.23.

CAE Price Performance

The stock's 50 day simple moving average is C$34.04 and its 200-day simple moving average is C$34.31. The firm has a market cap of C$11.40 billion, a price-to-earnings ratio of -34.20, a price-to-earnings-growth ratio of 1.76 and a beta of 1.91. The company has a debt-to-equity ratio of 74.04, a quick ratio of 0.71 and a current ratio of 0.84.

About CAE

CAE Inc is a global company focused on delivering training for the civil aviation, defense, security, and healthcare markets. Multiple types of simulators and synthetic exercises may be sold to customers to serve as alternatives for live-training experiences. The company's training solutions are provided through products and services.