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 Tuesday.
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 issued reports on CVU. Canaccord Genuity lifted their target price on shares of CPI Aerostructures from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Noble Financial reissued a “buy” rating on shares of CPI Aerostructures in a research note on Wednesday, August 9th. Finally, B. Riley reissued a “buy” rating and set a $12.00 target price on shares of CPI Aerostructures in a research note on Sunday, August 13th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $11.00.
CPI Aerostructures (NYSEMKT:CVU) opened at 8.90 on Tuesday. CPI Aerostructures has a one year low of $5.55 and a one year high of $10.15. The firm has a market capitalization of $78.73 million, a P/E ratio of 13.46 and a beta of 0.79. The firm has a 50-day moving average price of $8.87 and a 200 day moving average price of $8.27.
CPI Aerostructures (NYSEMKT:CVU) last posted its quarterly earnings data on Tuesday, August 8th. The aerospace company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $17.57 million. The business’s quarterly revenue was down 24.9% compared to the same quarter last year. Equities research analysts anticipate that CPI Aerostructures will post $0.60 earnings per share for the current year.
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A number of institutional investors and hedge funds have recently made changes to their positions in CVU. Royce & Associates LP raised its holdings in CPI Aerostructures by 13.6% in the 1st quarter. Royce & Associates LP now owns 712,866 shares of the aerospace company’s stock worth $4,812,000 after acquiring an additional 85,600 shares during the period. Dimensional Fund Advisors LP raised its holdings in CPI Aerostructures by 26.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 389,813 shares of the aerospace company’s stock worth $3,664,000 after acquiring an additional 82,742 shares during the period. Penn Capital Management Co. Inc. raised its holdings in CPI Aerostructures by 17.3% in the 2nd quarter. Penn Capital Management Co. Inc. now owns 313,801 shares of the aerospace company’s stock worth $2,950,000 after acquiring an additional 46,262 shares during the period. Algert Global LLC bought a new position in CPI Aerostructures in the 2nd quarter worth $181,000. Finally, Boston Partners raised its holdings in CPI Aerostructures by 14.1% in the 2nd quarter. Boston Partners now owns 51,024 shares of the aerospace company’s stock worth $480,000 after acquiring an additional 6,300 shares during the period.
CPI Aerostructures Company Profile
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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