CAE (TSE:CAE) Sets New 52-Week High Following Analyst Upgrade

CAE Inc. (TSE:CAE) (NYSE:CAE)’s share price hit a new 52-week high during mid-day trading on Wednesday after National Bankshares raised their price target on the stock from C$30.00 to C$34.00. The stock traded as high as C$30.74 and last traded at C$29.76, with a volume of 1459967 shares. The stock had previously closed at C$26.96.

Several other equities research analysts also recently issued reports on the stock. Canaccord Genuity Group lowered their price objective on shares of CAE from C$28.50 to C$27.00 in a research note on Thursday, August 15th. Royal Bank of Canada upgraded shares of CAE from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 15th. Desjardins decreased their price target on shares of CAE from C$29.00 to C$28.00 and set a “hold” rating on the stock in a research note on Wednesday, July 17th. BMO Capital Markets decreased their price target on shares of CAE from C$34.00 to C$33.00 in a research note on Thursday, July 18th. Finally, Scotiabank lifted their price target on shares of CAE from C$29.00 to C$30.00 and gave the stock a “sector perform” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of C$31.10.

CAE Price Performance

The stock has a fifty day moving average of C$25.10 and a 200-day moving average of C$25.40. The company has a quick ratio of 0.71, a current ratio of 0.89 and a debt-to-equity ratio of 74.24. The firm has a market capitalization of C$9.62 billion, a P/E ratio of -28.21, a PEG ratio of 1.76 and a beta of 1.91.

CAE (TSE:CAE) (NYSE:CAE) last released its quarterly earnings results on Tuesday, August 13th. The company reported C$0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.20 by C$0.01. CAE had a negative return on equity of 7.43% and a negative net margin of 7.39%. The business had revenue of C$1.07 billion during the quarter, compared to analysts’ expectations of C$1.05 billion.

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, Oceania and Africa, and Rest of Americas. It operates through three segments: Civil Aviation, Defense and Security, and Healthcare.