CPI Aerostructures, Inc. (CVU) Stock Rating Lowered by Zacks Investment Research
CPI Aerostructures, Inc. (NYSEMKT:CVU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.
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. “
A number of other brokerages have also recently weighed in on CVU. Canaccord Genuity lifted their price target on shares of CPI Aerostructures from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. B. Riley restated a “buy” rating and issued a $12.00 price objective on shares of CPI Aerostructures in a report on Thursday, August 3rd. ValuEngine cut shares of CPI Aerostructures from a “strong-buy” rating to a “buy” rating in a report on Friday, June 9th. Finally, Noble Financial restated a “buy” rating on shares of CPI Aerostructures in a report on Wednesday, August 9th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. CPI Aerostructures has a consensus rating of “Buy” and an average price target of $10.92.
CPI Aerostructures (NYSEMKT:CVU) traded up 1.98% during mid-day trading on Friday, hitting $9.00. 18,676 shares of the stock were exchanged. CPI Aerostructures has a 52-week low of $5.55 and a 52-week high of $10.15. The stock has a market cap of $79.61 million, a PE ratio of 13.62 and a beta of 0.79. The stock’s 50 day moving average is $8.76 and its 200 day moving average is $8.03.
CPI Aerostructures (NYSEMKT:CVU) last released its quarterly earnings data on Tuesday, August 8th. The aerospace company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.02. CPI Aerostructures had a net margin of 4.58% and a return on equity of 4.40%. The firm had revenue of $16.73 million during the quarter, compared to analysts’ expectations of $17.57 million. The firm’s revenue was down 24.9% on a year-over-year basis. Analysts forecast that CPI Aerostructures will post $0.60 EPS for the current fiscal year.
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Hedge funds have recently made changes to their positions in the stock. TFS Capital LLC acquired a new position in shares of CPI Aerostructures in the first quarter valued at approximately $120,000. Algert Global LLC acquired a new position in shares of CPI Aerostructures in the second quarter valued at approximately $181,000. Northern Trust Corp grew its holdings in shares of CPI Aerostructures by 3.0% in the second quarter. Northern Trust Corp now owns 21,897 shares of the aerospace company’s stock valued at $205,000 after purchasing an additional 634 shares in the last quarter. Benchmark Capital Advisors grew its holdings in shares of CPI Aerostructures by 1.5% in the second quarter. Benchmark Capital Advisors now owns 40,400 shares of the aerospace company’s stock valued at $380,000 after purchasing an additional 600 shares in the last quarter. Finally, Boston Partners grew its holdings in shares of CPI Aerostructures by 14.1% in the second quarter. Boston Partners now owns 51,024 shares of the aerospace company’s stock valued at $480,000 after purchasing an additional 6,300 shares in the last quarter.
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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