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

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of CAE by 8.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,356,182 shares of the aerospace company’s stock worth $25,218,000 after buying an additional 103,081 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of CAE during the third quarter valued at approximately $453,000. Plato Investment Management Ltd bought a new stake in CAE during the fourth quarter worth $846,000. Intact Investment Management Inc. purchased a new position in CAE in the fourth quarter worth $13,763,000. Finally, Charles Schwab Investment Management Inc. boosted its position in CAE by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 828,851 shares of the aerospace company’s stock worth $21,036,000 after purchasing an additional 7,215 shares during the last quarter. 67.36% of the stock is currently owned by hedge funds and other institutional investors.

CAE Stock Up 0.1 %

Shares of CAE stock traded up $0.02 on Tuesday, hitting $24.61. The company had a trading volume of 618,989 shares, compared to its average volume of 572,802. CAE has a 1 year low of $15.95 and a 1 year high of $27.62. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.63 and a current ratio of 0.86. The stock has a 50 day moving average of $24.51 and a 200-day moving average of $22.37. The stock has a market capitalization of $7.88 billion, a price-to-earnings ratio of -47.32, a P/E/G ratio of 1.94 and a beta of 1.74.

CAE (NYSE:CAE) (TSE:CAE) last released its quarterly earnings results on Thursday, February 13th. The aerospace company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. CAE had a positive return on equity of 6.11% and a negative net margin of 4.96%. As a group, sell-side analysts forecast that CAE will post 0.83 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CAE shares. National Bank Financial downgraded shares of CAE from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, January 22nd. StockNews.com raised CAE from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Desjardins upgraded CAE from a “hold” rating to a “buy” rating in a report on Monday, December 23rd. TD Securities downgraded CAE from a “buy” rating to a “hold” rating in a report on Monday, January 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $43.00 target price on shares of CAE in a report on Wednesday, March 12th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CAE presently has a consensus rating of “Hold” and an average price target of $32.00.

CAE Company Profile

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.