LMI Aerospace Inc. (LMIA) Shares Down 3%
LMI Aerospace Inc. (NASDAQ:LMIA) traded down 3% during mid-day trading on Friday . The stock traded as low as $7.17 and last traded at $7.47, with a volume of 111,356 shares traded. The stock had previously closed at $7.70.
A number of research firms recently weighed in on LMIA. Zacks Investment Research downgraded shares of LMI Aerospace from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $9.00 target price (down previously from $11.00) on shares of LMI Aerospace in a research report on Monday, July 11th.
The firm’s market capitalization is $99.78 million. The firm’s 50-day moving average price is $7.58 and its 200-day moving average price is $8.39.
LMI Aerospace (NASDAQ:LMIA) last posted its earnings results on Monday, August 8th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.01 by $0.14. During the same quarter in the previous year, the company posted $0.03 EPS. The company had revenue of $84 million for the quarter, compared to analyst estimates of $97.60 million. LMI Aerospace’s revenue for the quarter was down 13.8% compared to the same quarter last year. On average, analysts forecast that LMI Aerospace Inc. will post ($0.20) EPS for the current year.
In other news, Director Ronald S. Saks sold 11,475 shares of the business’s stock in a transaction that occurred on Tuesday, June 14th. The shares were sold at an average price of $8.48, for a total value of $97,308.00. Following the transaction, the director now owns 168,788 shares in the company, valued at approximately $1,431,322.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronald S. Saks sold 26,413 shares of the business’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $8.27, for a total transaction of $218,435.51. Following the completion of the transaction, the director now owns 215,414 shares in the company, valued at approximately $1,781,473.78. The disclosure for this sale can be found here.
LMI Aerospace, Inc is a supplier of structural assemblies, kits and components, and design engineering services to the aerospace and defense markets. The Company operates in two business segments consisting of its Aerostructures segment and its Engineering Services segment. Its Aerostructures segment fabricates, machines, finishes, integrates, assembles and kits machined and formed close tolerance aluminum, specialty alloy and composite components and higher level assemblies for use by the aerospace and defense industries.
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