LMI Aerospace Inc. (LMIA) Stock Price Down 3%
Shares of LMI Aerospace Inc. (NASDAQ:LMIA) fell 3% on Friday . The company traded as low as $7.17 and last traded at $7.47, with a volume of 111,356 shares trading hands. The stock had previously closed at $7.70.
A number of analysts have commented on the company. Zacks Investment Research upgraded LMI Aerospace from a “sell” rating to a “hold” rating in a research report on Tuesday, August 9th. Deutsche Bank AG reiterated a “hold” rating and set a $9.00 target price (down from $11.00) on shares of LMI Aerospace in a research report on Monday, July 11th.
The stock’s market cap is $99.78 million. The company has a 50 day moving average price of $7.57 and a 200-day moving average price of $8.39.
LMI Aerospace (NASDAQ:LMIA) last announced its quarterly earnings results on Monday, August 8th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by $0.14. The firm earned $84 million during the quarter, compared to analyst estimates of $97.60 million. The company’s revenue for the quarter was down 13.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.03 EPS. Analysts predict that LMI Aerospace Inc. will post ($0.20) EPS for the current year.
In other news, Director Ronald S. Saks sold 26,413 shares of the 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 sale, the director now directly owns 215,414 shares in the company, valued at approximately $1,781,473.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronald S. Saks sold 23,213 shares of the stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $8.27, for a total value of $191,971.51. Following the sale, the director now owns 192,001 shares in the company, valued at $1,587,848.27. 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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