Zacks Investment Research Lowers CAE Inc (CAE) to Hold
CAE Inc (NYSE:CAE) (TSE:CAE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “CAE is a world leader in providing simulation and modelling technologies, and integrated training services to the civil aviation industry and defence forces around the globe. The Company design, manufacture and supply simulation equipment and offer training and services. This includes integrated modelling, simulation and training solutions for commercial airlines, business aircraft operators, aircraft manufacturers and military organizations and a global network of training centres for pilots, and in some instances, cabin crew and maintenance workers. “
Several other equities analysts have also recently issued reports on CAE. BidaskClub cut shares of CAE from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. AltaCorp Capital restated a “hold” rating and set a $21.00 target price on shares of CAE in a research note on Sunday. Finally, BMO Capital Markets upgraded shares of CAE from a “market perform” rating to an “outperform” rating and set a $23.00 target price on the stock in a research note on Wednesday, August 30th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. CAE presently has an average rating of “Hold” and an average price target of $21.33.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAE. Advisor Group Inc. increased its position in shares of CAE by 89.8% during the 2nd quarter. Advisor Group Inc. now owns 7,091 shares of the aerospace company’s stock valued at $122,000 after purchasing an additional 3,354 shares during the last quarter. US Bancorp DE increased its position in shares of CAE by 38.2% during the 3rd quarter. US Bancorp DE now owns 8,653 shares of the aerospace company’s stock valued at $123,000 after purchasing an additional 2,390 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in shares of CAE by 0.7% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,557 shares of the aerospace company’s stock valued at $130,000 after purchasing an additional 57 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in CAE in the 2nd quarter worth approximately $133,000. Finally, Mckinley Capital Management LLC Delaware purchased a new stake in CAE in the 1st quarter worth approximately $138,000. 53.03% of the stock is owned by hedge funds and other institutional investors.
CAE Inc provides training for the civil aviation, defense and security, and healthcare markets. The Company designs and integrates training solutions. It operates through three segments: Civil Aviation Training Solutions, Defense and Security, and Healthcare. The Company provides training solutions for flight, cabin, maintenance and ground personnel in commercial, business and helicopter aviation, a range of flight simulation training devices, as well as ab initio pilot training and crew sourcing services.
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