Short Interest in CAE Inc. (NYSE:CAE) Declines By 18.6%

CAE Inc. (NYSE:CAE - Get Free Report) TSE: CAE was the recipient of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 3,900,000 shares, a decline of 18.6% from the February 13th total of 4,790,000 shares. Based on an average daily trading volume, of 506,400 shares, the short-interest ratio is presently 7.7 days. Approximately 1.2% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CAE. The Goldman Sachs Group boosted their target price on CAE from $28.00 to $32.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $43.00 price target on shares of CAE in a report on Wednesday, March 12th. TD Securities cut shares of CAE from a "buy" rating to a "hold" rating in a report on Monday, January 6th. Desjardins raised shares of CAE from a "hold" rating to a "buy" rating in a report on Monday, December 23rd. Finally, Bank of America raised shares of CAE from an "underperform" rating to a "neutral" rating in a report on Friday, March 7th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, CAE presently has an average rating of "Hold" and an average target price of $32.00.

Remove Ads

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Vident Advisory LLC increased its holdings in shares of CAE by 34.4% in the fourth quarter. Vident Advisory LLC now owns 374,393 shares of the aerospace company's stock worth $9,502,000 after purchasing an additional 95,905 shares during the period. Two Sigma Advisers LP increased its holdings in shares of CAE by 212.1% in the fourth quarter. Two Sigma Advisers LP now owns 176,000 shares of the aerospace company's stock worth $4,467,000 after purchasing an additional 119,600 shares during the period. Two Sigma Investments LP increased its holdings in shares of CAE by 255.7% in the fourth quarter. Two Sigma Investments LP now owns 525,150 shares of the aerospace company's stock worth $13,328,000 after purchasing an additional 377,499 shares during the period. Select Equity Group L.P. increased its holdings in shares of CAE by 427.1% in the fourth quarter. Select Equity Group L.P. now owns 6,741,514 shares of the aerospace company's stock worth $171,093,000 after purchasing an additional 5,462,455 shares during the period. Finally, Shell Asset Management Co. grew its position in CAE by 10.6% in the fourth quarter. Shell Asset Management Co. now owns 51,220 shares of the aerospace company's stock worth $1,299,000 after acquiring an additional 4,900 shares in the last quarter. Institutional investors own 67.36% of the company's stock.

CAE Stock Performance

CAE stock traded down $0.08 during midday trading on Friday, reaching $24.53. 295,079 shares of the company's stock traded hands, compared to its average volume of 554,630. The company has a 50-day moving average price of $24.38 and a two-hundred day moving average price of $22.01. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.63 and a current ratio of 0.86. CAE has a 52 week low of $15.95 and a 52 week high of $27.62. The firm has a market capitalization of $7.86 billion, a PE ratio of -47.18, a price-to-earnings-growth ratio of 1.94 and a beta of 1.74.

CAE (NYSE:CAE - Get Free Report) TSE: CAE last released its quarterly earnings results on Thursday, February 13th. The aerospace company reported $0.21 earnings per share 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%. As a group, equities analysts anticipate that CAE will post 0.83 EPS for the current year.

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.