Zacks Investment Research downgraded shares of CPI Aerostructures (NYSEAMERICAN:CVU) from a hold rating to a sell rating in a report issued on Monday 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. “

CVU stock opened at $6.02 on Monday. CPI Aerostructures has a one year low of $6.00 and a one year high of $11.75.

CPI Aerostructures (NYSEAMERICAN:CVU) last issued its earnings results on Thursday, November 8th. The aerospace company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.02. The firm had revenue of $19.95 million during the quarter, compared to the consensus estimate of $20.25 million.

Institutional investors have recently modified their holdings of the company. Ariel Investments LLC grew its holdings in shares of CPI Aerostructures by 11.4% in the second quarter. Ariel Investments LLC now owns 776,157 shares of the aerospace company’s stock worth $8,150,000 after purchasing an additional 79,454 shares during the last quarter. Ancora Advisors LLC grew its holdings in shares of CPI Aerostructures by 39.0% in the third quarter. Ancora Advisors LLC now owns 73,258 shares of the aerospace company’s stock worth $612,000 after purchasing an additional 20,559 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of CPI Aerostructures by 5.2% in the second quarter. Dimensional Fund Advisors LP now owns 535,386 shares of the aerospace company’s stock worth $5,622,000 after purchasing an additional 26,630 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of CPI Aerostructures by 8.5% in the second quarter. Russell Investments Group Ltd. now owns 136,234 shares of the aerospace company’s stock worth $1,429,000 after purchasing 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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