Short Interest in CAE Inc. (NYSE:CAE) Rises By 7.6%

CAE Inc. (NYSE:CAE) (TSE:CAE) was the recipient of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 3,530,000 shares, a growth of 7.6% from the September 30th total of 3,280,000 shares. Based on an average daily volume of 602,100 shares, the short-interest ratio is currently 5.9 days. Currently, 1.1% of the company’s shares are sold short.

Analyst Ratings Changes

Several research firms have recently weighed in on CAE. StockNews.com lowered shares of CAE from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. 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. Finally, Morgan Stanley lowered shares of CAE from an “overweight” rating to an “equal weight” rating in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.00.

CAE Trading Up 2.0 %

NYSE CAE traded up $0.36 during trading on Friday, hitting $17.96. 189,067 shares of the company’s stock traded hands, compared to its average volume of 586,376. CAE has a 12-month low of $15.95 and a 12-month high of $23.24. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.89 and a quick ratio of 0.61. The business has a 50 day moving average of $18.22 and a 200-day moving average of $18.55.

CAE (NYSE:CAE) (TSE:CAE) last announced its quarterly earnings results on Tuesday, August 13th. The aerospace company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. CAE had a negative net margin of 7.38% and a positive return on equity of 5.96%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 earnings per share. As a group, equities analysts forecast that CAE will post 0.85 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Ridgewood Investments LLC bought a new position in CAE during the second quarter valued at approximately $33,000. Cromwell Holdings LLC lifted its position in CAE by 103.4% during the third quarter. Cromwell Holdings LLC now owns 1,800 shares of the aerospace company’s stock valued at $34,000 after buying an additional 915 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of CAE by 86.2% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,376 shares of the aerospace company’s stock valued at $48,000 after acquiring an additional 1,100 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of CAE during the first quarter valued at $77,000. Finally, UniSuper Management Pty Ltd increased its holdings in shares of CAE by 104.5% during the first quarter. UniSuper Management Pty Ltd now owns 4,500 shares of the aerospace company’s stock valued at $93,000 after acquiring an additional 2,300 shares in the last quarter. 67.36% of the stock is currently owned by institutional investors.

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.