Oppenheimer Asset Management Inc. Purchases New Position in CAE Inc. (NYSE:CAE)

Oppenheimer Asset Management Inc. acquired a new stake in shares of CAE Inc. (NYSE:CAE) (TSE:CAE) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 16,704 shares of the aerospace company’s stock, valued at approximately $310,000.

Several other large investors have also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV grew its holdings in shares of CAE by 142.8% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,202 shares of the aerospace company’s stock valued at $25,000 after buying an additional 707 shares during the period. Ridgewood Investments LLC acquired a new position in CAE in the second quarter valued at about $33,000. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of CAE by 86.2% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,376 shares of the aerospace company’s stock worth $48,000 after acquiring an additional 1,100 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of CAE by 3,712.3% during the fourth quarter. Jones Financial Companies Lllp now owns 2,783 shares of the aerospace company’s stock worth $60,000 after purchasing an additional 2,710 shares during the period. Finally, Lazard Asset Management LLC bought a new position in shares of CAE during the 1st quarter valued at about $77,000. Institutional investors own 67.36% of the company’s stock.

CAE Stock Down 0.9 %

CAE stock opened at $17.84 on Friday. The company has a fifty day simple moving average of $17.73 and a 200 day simple moving average of $18.83. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.67. CAE Inc. has a 1-year low of $15.95 and a 1-year high of $24.22. The company has a market cap of $5.69 billion, a P/E ratio of -24.78, a price-to-earnings-growth ratio of 1.31 and a beta of 1.67.

CAE (NYSE:CAE) (TSE:CAE) last released its earnings results on Tuesday, August 13th. The aerospace company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. CAE had a positive return on equity of 5.96% and a negative net margin of 7.38%. CAE’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.18 earnings per share. Research analysts anticipate that CAE Inc. will post 0.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on CAE. StockNews.com upgraded shares of CAE from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Royal Bank of Canada raised shares of CAE from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 15th. Jefferies Financial Group started coverage on CAE in a report on Thursday, June 6th. They set a “hold” rating and a $21.00 target price for the company. Finally, Morgan Stanley lowered CAE from an “overweight” rating to an “equal weight” rating in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $28.00.

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.