Insider Selling: Harvey J. Bazaar Sells 3,918 Shares of CPI Aerostructures Stock (CVU)
CPI Aerostructures (NYSE:CVU) Director Harvey J. Bazaar sold 3,918 shares of CPI Aerostructures stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $12.82, for a total transaction of $50,228.76. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $192,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
CVU has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of CPI Aerostructures from a “neutral” rating to an “underperform” rating in a research note on Thursday, June 5th. They now have a $12.10 price target on the stock. Separately, analysts at Roth Capital cut their price target on shares of CPI Aerostructures from $16.00 to $14.00 in a research note on Friday, May 9th. Finally, analysts at B. Riley cut their price target on shares of CPI Aerostructures from $18.00 to $16.00 in a research note on Friday, May 9th.
Shares of CPI Aerostructures (NYSE:CVU) traded down 1.76% on Tuesday, hitting $12.87. 1,214 shares of the company’s stock traded hands. CPI Aerostructures has a 1-year low of $9.61 and a 1-year high of $16.00. The stock’s 50-day moving average is $12.87 and its 200-day moving average is $13.85. The company has a market cap of $108.9 million and a P/E ratio of 14.40.
CPI Aerostructures (NYSE:CVU) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.17 by $0.03. On average, analysts predict that CPI Aerostructures will post $0.82 earnings per share for the current fiscal year.
CPI Aerostructures, Inc (NYSE:CVU) is engaged in the contract production of structural aircraft parts principally for the United States Air Force and other branches of the United States armed forces, either as a prime contractor or as a subcontractor to other defense prime contractors.
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