CPI Aerostructures, Inc. (CVU) Downgraded by Zacks Investment Research to Hold
According to Zacks, “CPI Aerostructures, Inc. is comprised of two distinct entities: CPI Aerostructures, Inc. and Kolar, Inc. CPI is engaged in contract production of structural aircraft parts and sub-assemblies for the commercial and military sectors of the aircraft industry. In connection with its commercial assembly operations, CPI provides engineering, technical and program management services to its customers. Kolar manufactures precision machine parts and sub-assemblies for the electronics industry, including computer and microwave device manufacturers. “
Separately, B. Riley restated a buy rating and issued a $9.75 target price on shares of CPI Aerostructures in a research note on Tuesday, August 2nd.
CPI Aerostructures (NYSEMKT:CVU) traded down 0.44% during midday trading on Wednesday, reaching $6.75. 275 shares of the company’s stock were exchanged. The stock’s market capitalization is $58.21 million. CPI Aerostructures has a 12-month low of $4.35 and a 12-month high of $9.84. The stock’s 50-day moving average is $6.62 and its 200-day moving average is $6.62.
CPI Aerostructures (NYSEMKT:CVU) last issued its earnings results on Thursday, August 4th. The company reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.06. The company earned $22.30 million during the quarter, compared to the consensus estimate of $22 million. On average, equities analysts forecast that CPI Aerostructures will post $0.68 earnings per share for the current year.
Several large investors have recently made changes to their positions in the company. Royce & Associates LP boosted its stake in shares of CPI Aerostructures by 16.5% in the second quarter. Royce & Associates LP now owns 634,066 shares of the company’s stock valued at $3,900,000 after buying an additional 90,000 shares during the last quarter. Rutabaga Capital Management LLC MA boosted its stake in shares of CPI Aerostructures by 0.4% in the second quarter. Rutabaga Capital Management LLC MA now owns 577,409 shares of the company’s stock valued at $3,551,000 after buying an additional 2,219 shares during the last quarter. Heartland Advisors Inc. boosted its stake in shares of CPI Aerostructures by 1.6% in the second quarter. Heartland Advisors Inc. now owns 500,000 shares of the company’s stock valued at $3,075,000 after buying an additional 8,038 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of CPI Aerostructures by 0.4% in the second quarter. Vanguard Group Inc. now owns 227,194 shares of the company’s stock valued at $1,397,000 after buying an additional 802 shares during the last quarter. Finally, Emerald Acquisition Ltd. acquired a new stake in shares of CPI Aerostructures during the second quarter valued at $612,000.
About CPI Aerostructures
CPI Aerostructures, Inc (CPI Aero) is a supplier of aircraft parts for fixed wing aircraft and helicopters in both the commercial and defense markets in the United States. The Company is a manufacturer of structural aircraft parts and aerosystems. It is also a contractor to the United States Department of Defense, primarily the Air Force.
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