Short Interest in CAE Inc. (NYSE:CAE) Declines By 16.4%

CAE Inc. (NYSE:CAE) (TSE:CAE) was the target of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 3,260,000 shares, a drop of 16.4% from the February 28th total of 3,900,000 shares. Approximately 1.0% of the company’s shares are short sold. Based on an average daily trading volume, of 515,000 shares, the days-to-cover ratio is presently 6.3 days.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Asset Planning Inc bought a new stake in shares of CAE during the 4th quarter worth approximately $30,000. Natixis acquired a new position in CAE during the fourth quarter worth $38,000. UniSuper Management Pty Ltd bought a new stake in CAE during the fourth quarter worth $147,000. Allworth Financial LP lifted its stake in CAE by 14.2% in the fourth quarter. Allworth Financial LP now owns 7,321 shares of the aerospace company’s stock valued at $177,000 after acquiring an additional 913 shares during the last quarter. Finally, Centiva Capital LP bought a new position in shares of CAE in the 3rd quarter valued at about $197,000. 67.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CAE has been the subject of a number of research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $43.00 target price on shares of CAE in a research note on Wednesday, March 12th. The Goldman Sachs Group lifted their price objective on CAE from $28.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. StockNews.com upgraded shares of CAE from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Bank of America upgraded shares of CAE from an “underperform” rating to a “neutral” rating in a report on Friday, March 7th. Finally, Cibc World Mkts cut shares of CAE from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 4th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $32.00.

CAE Stock Down 2.8 %

Shares of CAE stock traded down $0.70 during trading on Thursday, reaching $23.97. The company’s stock had a trading volume of 218,047 shares, compared to its average volume of 571,245. CAE has a one year low of $15.95 and a one year high of $27.62. The business has a fifty day moving average price of $24.52 and a 200-day moving average price of $22.43. The company has a market cap of $7.68 billion, a price-to-earnings ratio of -46.10, a price-to-earnings-growth ratio of 1.94 and a beta of 1.74. 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) (TSE:CAE) last issued its quarterly earnings results on Thursday, February 13th. The aerospace company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.20 by $0.01. CAE had a negative net margin of 4.96% and a positive return on equity of 6.11%. Analysts anticipate that CAE will post 0.83 earnings per share for the current year.

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.