Innovative Solutions and Support (NASDAQ:ISSC) Releases Quarterly Earnings Results, Beats Estimates By $0.33 EPS

Innovative Solutions and Support (NASDAQ:ISSC) posted its earnings results on Thursday. The aerospace company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.33, FiscalAI reports. The company had revenue of $22.25 million during the quarter, compared to analysts’ expectations of $18.59 million. Innovative Solutions and Support had a net margin of 15.10% and a return on equity of 23.86%.

Innovative Solutions and Support Stock Performance

Shares of NASDAQ:ISSC traded up $4.06 during trading on Thursday, hitting $15.05. The stock had a trading volume of 1,160,795 shares, compared to its average volume of 345,403. The company has a quick ratio of 1.69, a current ratio of 3.53 and a debt-to-equity ratio of 0.41. Innovative Solutions and Support has a 12-month low of $5.30 and a 12-month high of $20.00. The stock has a market capitalization of $265.43 million, a price-to-earnings ratio of 22.55 and a beta of 0.77. The stock has a 50-day simple moving average of $10.00 and a two-hundred day simple moving average of $12.28.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ISSC. Weiss Ratings reiterated a “hold (c+)” rating on shares of Innovative Solutions and Support in a report on Wednesday, October 8th. Northland Securities assumed coverage on Innovative Solutions and Support in a research note on Friday, November 21st. They issued an “outperform” rating and a $16.50 price target for the company. Northland Capmk raised Innovative Solutions and Support to a “strong-buy” rating in a report on Friday, November 21st. Wall Street Zen upgraded shares of Innovative Solutions and Support from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Finally, Craig Hallum initiated coverage on shares of Innovative Solutions and Support in a research note on Friday, December 5th. They issued a “buy” rating and a $16.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $16.25.

Hedge Funds Weigh In On Innovative Solutions and Support

Several hedge funds and other institutional investors have recently bought and sold shares of ISSC. Jane Street Group LLC raised its position in Innovative Solutions and Support by 53.5% during the 1st quarter. Jane Street Group LLC now owns 48,250 shares of the aerospace company’s stock worth $303,000 after buying an additional 16,808 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Innovative Solutions and Support by 0.6% in the second quarter. Geode Capital Management LLC now owns 123,258 shares of the aerospace company’s stock worth $1,711,000 after acquiring an additional 725 shares during the period. JPMorgan Chase & Co. purchased a new position in shares of Innovative Solutions and Support during the second quarter worth $848,000. American Century Companies Inc. raised its holdings in shares of Innovative Solutions and Support by 21.9% during the second quarter. American Century Companies Inc. now owns 12,386 shares of the aerospace company’s stock worth $172,000 after purchasing an additional 2,228 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Innovative Solutions and Support by 415.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 157,250 shares of the aerospace company’s stock valued at $2,183,000 after purchasing an additional 126,729 shares during the period. Institutional investors and hedge funds own 28.53% of the company’s stock.

Innovative Solutions and Support Company Profile

Innovative Solutions and Support, Inc, a systems integrator, designs, develops, manufactures, sells, and services flight guidance, autothrottles, and cockpit display systems in the United States and internationally. It offers flat panel display systems that replicate the display of analog or digital displays on one screen and replace existing displays in legacy aircraft, as well as used for security monitoring on-board aircraft and as tactical workstations on military aircraft; and flight deck management system, a navigation and performance computer that upgrade for commercial air transport aircraft.