CPI Aerostructures (CVU) Raised to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of CPI Aerostructures (NYSEAMERICAN:CVU) from a sell rating to a hold rating in a research report report published on Tuesday morning.
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. “
Several other research analysts have also weighed in on the company. Noble Financial raised CPI Aerostructures from a hold rating to a buy rating and set a $11.00 target price on the stock in a research report on Thursday, August 9th. Canaccord Genuity reaffirmed a buy rating and issued a $12.00 target price on shares of CPI Aerostructures in a research report on Wednesday, August 8th.
CPI Aerostructures (NYSEAMERICAN:CVU) last issued its earnings results on Wednesday, August 8th. The aerospace company reported $0.14 earnings per share for the quarter, hitting the consensus estimate of $0.14. CPI Aerostructures had a return on equity of 9.55% and a net margin of 8.19%. The company had revenue of $20.26 million for the quarter, compared to analyst estimates of $20.50 million.
Hedge funds and other institutional investors have recently modified their holdings of the company. Prudential Financial Inc. acquired a new position in shares of CPI Aerostructures during the 1st quarter valued at about $121,000. Acadian Asset Management LLC acquired a new position in shares of CPI Aerostructures during the 2nd quarter valued at about $124,000. Wedge Capital Management L L P NC acquired a new position in shares of CPI Aerostructures during the 2nd quarter valued at about $414,000. Ancora Advisors LLC increased its holdings in shares of CPI Aerostructures by 71.2% during the 1st quarter. Ancora Advisors LLC now owns 52,412 shares of the aerospace company’s stock valued at $511,000 after acquiring an additional 21,789 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of CPI Aerostructures by 8.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 136,234 shares of the aerospace company’s stock valued at $1,429,000 after acquiring an additional 10,686 shares during the last quarter.
CPI Aerostructures Company Profile
CPI Aerostructures, Inc engages in the contract production of structural aircraft parts for fixed wing aircraft and helicopters in the commercial and defense markets. It also offers aero systems, such as reconnaissance pod structures and fuel panel systems; and supplies parts for maintenance, repair, and overhaul (MRO), as well as kitting contracts.
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