Galibier Capital Management Ltd. acquired a new position in shares of CAE Inc. (NYSE:CAE – Get Rating) (TSE:CAE) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 766,639 shares of the aerospace company’s stock, valued at approximately $18,852,000. CAE comprises approximately 3.6% of Galibier Capital Management Ltd.’s portfolio, making the stock its 13th largest holding.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Addison Advisors LLC purchased a new position in CAE in the first quarter worth $35,000. Quadrant Capital Group LLC grew its stake in CAE by 40.9% during the 1st quarter. Quadrant Capital Group LLC now owns 3,387 shares of the aerospace company’s stock worth $89,000 after buying an additional 983 shares during the last quarter. Signaturefd LLC increased its position in CAE by 16.7% during the 1st quarter. Signaturefd LLC now owns 3,848 shares of the aerospace company’s stock valued at $100,000 after buying an additional 552 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in CAE by 42.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,085 shares of the aerospace company’s stock valued at $107,000 after buying an additional 1,223 shares during the last quarter. Finally, Group One Trading L.P. acquired a new stake in CAE in the first quarter worth about $180,000. Hedge funds and other institutional investors own 60.92% of the company’s stock.
Analyst Ratings Changes
CAE has been the topic of several recent analyst reports. TD Securities cut their price objective on shares of CAE from C$41.00 to C$34.00 in a report on Thursday, August 11th. Royal Bank of Canada decreased their price target on shares of CAE from $40.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, August 11th. Scotiabank dropped their price objective on shares of CAE from C$43.50 to C$37.50 in a report on Thursday, August 11th. BMO Capital Markets reduced their target price on CAE from C$36.00 to C$33.00 in a research note on Friday, August 26th. Finally, Bank of America upgraded CAE from an “underperform” rating to a “neutral” rating in a research note on Monday, June 6th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, CAE presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.28.
CAE Stock Performance
CAE (NYSE:CAE – Get Rating) (TSE:CAE) last issued its quarterly earnings data on Wednesday, August 10th. The aerospace company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.16). The company had revenue of $933.40 million during the quarter, compared to analyst estimates of $936.30 million. CAE had a net margin of 2.74% and a return on equity of 5.50%. The business’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same period last year, the firm earned $0.15 EPS. Analysts anticipate that CAE Inc. will post 0.68 EPS for the current fiscal year.
CAE Inc, together with its subsidiaries, provides simulation training and critical operations support solutions worldwide. It operates through three segments: Civil Aviation, Defense and Security, and Healthcare. The Civil Aviation segment provides training solutions for flight, cabin, maintenance, and ground personnel in commercial, business, and helicopter aviation; flight simulation training devices; and ab initio pilot training and crew sourcing services, as well as end to end digitally enabled crew management, training operations solutions, and optimization software.
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