Innovative Solutions and Support (NASDAQ:IA) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Innovative Solutions and Support (NASDAQ:IA) from a buy rating to a hold rating in a report released on Saturday,Wall Street Zen reports.

Other equities analysts also recently issued research reports about the stock. Zacks Research downgraded shares of Innovative Solutions and Support from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 16th. Weiss Ratings raised shares of Innovative Solutions and Support from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Innovative Solutions and Support has a consensus rating of “Moderate Buy”.

Innovative Solutions and Support Stock Performance

IA opened at $19.92 on Friday. The stock has a market capitalization of $356.55 million, a P/E ratio of 18.97 and a beta of 0.60. Innovative Solutions and Support has a one year low of $8.13 and a one year high of $30.94. The business’s fifty day moving average price is $19.24. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.49 and a current ratio of 2.97.

Innovative Solutions and Support (NASDAQ:IA) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.33 earnings per share for the quarter. Innovative Solutions and Support had a return on equity of 30.53% and a net margin of 20.50%. The company had revenue of $26.73 million during the quarter. On average, analysts predict that Innovative Solutions and Support will post 1.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp acquired a new stake in Innovative Solutions and Support in the second quarter worth $3,407,000. Squarepoint Ops LLC bought a new position in shares of Innovative Solutions and Support in the second quarter valued at approximately $1,868,000. Isthmus Partners LLC acquired a new position in shares of Innovative Solutions and Support during the 3rd quarter valued at $3,181,000. Triumph Capital Management raised its position in Innovative Solutions and Support by 80.6% in the third quarter. Triumph Capital Management now owns 1,400 shares of the company’s stock worth $26,000 after acquiring an additional 625 shares in the last quarter. Finally, NewEdge Advisors LLC acquired a new stake in Innovative Solutions and Support during the second quarter valued at approximately $367,000. 28.53% of the stock is owned by institutional investors and hedge funds.

About Innovative Solutions and Support

Innovative Solutions and Support, Inc (NASDAQ: IA) is an aerospace technology company that develops, manufactures and supports avionics and cockpit systems. Its products are designed for commercial air transport, business and general aviation, and military aircraft.

The company’s offerings include advanced flight displays, electronic flight instrument systems, air data and navigation systems, integrated cockpit solutions, and other aircraft instrumentation and avionics. Innovative Solutions and Support serves both original-equipment manufacturers and aircraft operators, including customers seeking to upgrade or modernize existing aircraft.

Founded in 1988 and headquartered in Exton, Pennsylvania, the company provides products and support for aircraft operating in domestic and international markets.