CPI Aerostructures (NYSEAMERICAN:CVU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued 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. “
Separately, B. Riley reiterated a “buy” rating and issued a $12.00 target price on shares of CPI Aerostructures in a research note on Tuesday, November 7th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $11.00.
CPI Aerostructures (NYSEAMERICAN:CVU) last posted its earnings results on Wednesday, November 8th. The aerospace company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.03. The firm had revenue of $20.71 million during the quarter, compared to analysts’ expectations of $22.03 million. CPI Aerostructures had a net margin of 8.19% and a return on equity of 9.55%. The company’s revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.19 earnings per share.
Several institutional investors have recently modified their holdings of CVU. Dimensional Fund Advisors LP lifted its stake in shares of CPI Aerostructures by 26.9% in the second quarter. Dimensional Fund Advisors LP now owns 389,813 shares of the aerospace company’s stock worth $3,664,000 after buying an additional 82,742 shares during the last quarter. Penn Capital Management Co. Inc. lifted its stake in shares of CPI Aerostructures by 17.3% in the second quarter. Penn Capital Management Co. Inc. now owns 313,801 shares of the aerospace company’s stock worth $2,950,000 after buying an additional 46,262 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of CPI Aerostructures by 46.8% in the third quarter. Russell Investments Group Ltd. now owns 120,060 shares of the aerospace company’s stock worth $1,122,000 after buying an additional 38,257 shares during the last quarter. Boston Partners lifted its stake in shares of CPI Aerostructures by 74.5% in the third quarter. Boston Partners now owns 89,024 shares of the aerospace company’s stock worth $832,000 after buying an additional 38,000 shares during the last quarter. Finally, NJ State Employees Deferred Compensation Plan lifted its stake in shares of CPI Aerostructures by 116.0% in the third quarter. NJ State Employees Deferred Compensation Plan now owns 54,000 shares of the aerospace company’s stock worth $505,000 after buying an additional 29,000 shares during the last quarter.
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About CPI Aerostructures
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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