CAE (NYSE:CAE) Reaches New 52-Week High – Time to Buy?

CAE Inc (NYSE:CAE) (TSE:CAE) shares hit a new 52-week high during trading on Monday . The company traded as high as $33.23 and last traded at $33.1680, with a volume of 448615 shares changing hands. The stock had previously closed at $33.03.

Analysts Set New Price Targets

CAE has been the subject of a number of recent analyst reports. Zacks Research downgraded CAE from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 19th. Weiss Ratings reiterated a “hold (c+)” rating on shares of CAE in a research note on Monday, December 29th. Royal Bank Of Canada reduced their price target on shares of CAE from $41.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, November 13th. Finally, TD Securities restated a “buy” rating on shares of CAE in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, CAE has an average rating of “Moderate Buy” and an average price target of $34.33.

CAE Price Performance

The business’s 50 day moving average is $28.69 and its two-hundred day moving average is $28.35. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.59 and a current ratio of 0.83. The firm has a market capitalization of $10.67 billion, a PE ratio of 34.19, a price-to-earnings-growth ratio of 2.49 and a beta of 1.15.

CAE (NYSE:CAE) (TSE:CAE) last posted its quarterly earnings results on Tuesday, November 11th. The aerospace company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. The firm had revenue of $897.99 million during the quarter, compared to analyst estimates of $1.13 billion. CAE had a return on equity of 7.60% and a net margin of 8.98%.The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period last year, the company earned $0.24 earnings per share. Equities research analysts anticipate that CAE Inc will post 0.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CAE

A number of large investors have recently modified their holdings of the company. Millennium Management LLC bought a new stake in CAE during the 1st quarter worth approximately $4,170,000. Goldman Sachs Group Inc. increased its holdings in shares of CAE by 142.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,709,480 shares of the aerospace company’s stock worth $42,036,000 after purchasing an additional 1,004,820 shares during the period. United Services Automobile Association raised its position in shares of CAE by 4.5% in the first quarter. United Services Automobile Association now owns 10,822 shares of the aerospace company’s stock worth $265,000 after buying an additional 462 shares in the last quarter. Ballentine Partners LLC bought a new stake in CAE during the second quarter valued at $277,000. Finally, Truist Financial Corp grew its position in CAE by 5.6% during the second quarter. Truist Financial Corp now owns 67,272 shares of the aerospace company’s stock worth $1,969,000 after buying an additional 3,580 shares in the last quarter. 67.36% of the stock is currently owned by institutional investors.

CAE Company Profile

CAE Inc is a global leader in training and simulation technologies, headquartered in Montréal, Canada. The company specializes in the design and manufacture of high-fidelity flight simulators and training systems for civil aviation, defense and security, and healthcare markets. Leveraging advanced software and hardware integration, CAE delivers comprehensive training solutions that address pilot proficiency, mission readiness and patient safety across a wide range of platforms.

In civil aviation, CAE partners with major airlines, aircraft manufacturers and flight schools to provide pilot training services, courseware development and crew scheduling solutions.