Intact Investment Management Inc. Boosts Position in CAE Inc (NYSE:CAE)

Intact Investment Management Inc. increased its stake in CAE Inc (NYSE:CAE) (TSE:CAE) by 51.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 820,290 shares of the aerospace company’s stock after buying an additional 278,210 shares during the period. Intact Investment Management Inc.’s holdings in CAE were worth $20,170,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Natixis purchased a new position in CAE in the 4th quarter worth about $38,000. Versant Capital Management Inc purchased a new position in CAE in the 1st quarter worth about $53,000. UniSuper Management Pty Ltd purchased a new position in CAE in the 4th quarter worth about $147,000. Allworth Financial LP increased its stake in CAE by 14.2% in the 4th quarter. Allworth Financial LP now owns 7,321 shares of the aerospace company’s stock worth $177,000 after buying an additional 913 shares during the period. Finally, First Trust Advisors LP purchased a new position in CAE in the 4th quarter worth about $213,000. Hedge funds and other institutional investors own 67.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Scotiabank raised shares of CAE from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday, May 15th. Bank of America upgraded shares of CAE from an “underperform” rating to a “neutral” rating in a report on Friday, March 7th. Jefferies Financial Group dropped their target price on shares of CAE from $28.00 to $27.00 and set a “hold” rating on the stock in a report on Friday, May 16th. Royal Bank Of Canada cut shares of CAE from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $41.00 to $38.00 in a report on Wednesday, May 21st. Finally, Wall Street Zen upgraded shares of CAE from a “hold” rating to a “buy” rating in a report on Tuesday, May 27th. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.33.

CAE Stock Down 1.3%

NYSE:CAE opened at $26.21 on Friday. CAE Inc has a fifty-two week low of $15.95 and a fifty-two week high of $27.62. The stock has a market capitalization of $8.40 billion, a P/E ratio of 29.12, a P/E/G ratio of 2.19 and a beta of 1.28. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.58 and a current ratio of 0.80. The company’s 50-day simple moving average is $25.42 and its 200-day simple moving average is $24.55.

CAE (NYSE:CAE) (TSE:CAE) last released its quarterly earnings results on Tuesday, May 13th. The aerospace company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. CAE had a net margin of 8.55% and a return on equity of 8.17%. The business had revenue of $886.20 million for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period last year, the business earned $0.37 EPS. The company’s revenue was up 13.2% compared to the same quarter last year. On average, equities analysts anticipate that CAE Inc will post 0.83 earnings per share for the current fiscal 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.