CAE (NYSE:CAE) Rating Lowered to Hold at Canaccord Genuity Group

CAE (NYSE:CAE) (TSE:CAE) was downgraded by analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Briefing.com reports.

A number of other equities analysts also recently commented on CAE. StockNews.com raised shares of CAE from a “hold” rating to a “buy” rating in a research note on Tuesday, February 20th. Desjardins downgraded shares of CAE from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, The Goldman Sachs Group boosted their price objective on shares of CAE from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $34.75.

CAE Stock Down 2.1 %

Shares of NYSE CAE opened at $19.83 on Wednesday. The firm has a market capitalization of $6.31 billion, a price-to-earnings ratio of 30.98, a PEG ratio of 1.53 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 debt-to-equity ratio of 0.55, a quick ratio of 0.68 and a current ratio of 0.90. The stock has a 50 day moving average price of $19.95 and a 200 day moving average price of $20.28.

Hedge Funds Weigh In On CAE

A number of large investors have recently made changes to their positions in CAE. JARISLOWSKY FRASER Ltd increased its position in shares of CAE by 28.5% in the 4th quarter. JARISLOWSKY FRASER Ltd now owns 17,334,635 shares of the aerospace company’s stock valued at $375,982,000 after acquiring an additional 3,843,611 shares during the period. Norges Bank acquired a new position in shares of CAE in the 4th quarter valued at $74,413,000. Mackenzie Financial Corp increased its position in shares of CAE by 6.7% in the 4th quarter. Mackenzie Financial Corp now owns 33,315,745 shares of the aerospace company’s stock valued at $719,443,000 after acquiring an additional 2,083,595 shares during the period. AGF Management Ltd. increased its position in shares of CAE by 174.1% in the 4th quarter. AGF Management Ltd. now owns 1,188,038 shares of the aerospace company’s stock valued at $26,348,000 after acquiring an additional 754,648 shares during the period. Finally, Clearbridge Investments LLC increased its position in shares of CAE by 17.1% in the 1st quarter. Clearbridge Investments LLC now owns 3,710,044 shares of the aerospace company’s stock valued at $76,575,000 after acquiring an additional 541,066 shares during the period. 67.36% of the stock is owned by institutional investors and hedge funds.

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, Oceania and Africa, and Rest of Americas. It operates through three segments: Civil Aviation, Defense and Security, and Healthcare.