Zacks Investment Research Lowers CPI Aerostructures, Inc. (CVU) to Hold
CPI Aerostructures, Inc. (NYSEMKT:CVU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
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 analysts have also recently weighed in on the stock. B. Riley restated a “buy” rating and issued a $9.50 price objective on shares of CPI Aerostructures in a research note on Monday, May 15th. Noble Financial upgraded shares of CPI Aerostructures from a “hold” rating to a “buy” rating in a research note on Wednesday, May 10th. Canaccord Genuity boosted their price objective on shares of CPI Aerostructures from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. ValuEngine cut shares of CPI Aerostructures from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 9th. Finally, TheStreet upgraded shares of CPI Aerostructures from a “d+” rating to a “c-” rating in a research note on Tuesday, May 23rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $10.92.
Shares of CPI Aerostructures (CVU) traded up 0.58% during trading on Thursday, hitting $8.60. 32,559 shares of the stock were exchanged. CPI Aerostructures has a 12-month low of $5.55 and a 12-month high of $10.15. The stock’s 50 day moving average is $9.05 and its 200-day moving average is $7.98. The stock has a market cap of $76.08 million, a price-to-earnings ratio of 13.01 and a beta of 0.79.
CPI Aerostructures (NYSEMKT:CVU) last posted its earnings results on Tuesday, August 8th. The aerospace company reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.02. The firm had revenue of $16.73 million during the quarter, compared to analysts’ expectations of $17.57 million. CPI Aerostructures had a net margin of 4.58% and a return on equity of 4.40%. The firm’s revenue for the quarter was down 24.9% compared to the same quarter last year. Equities research analysts anticipate that CPI Aerostructures will post $0.60 EPS for the current year.
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A number of large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in CPI Aerostructures by 26.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 389,813 shares of the aerospace company’s stock valued at $3,664,000 after purchasing an additional 82,742 shares during the last quarter. Northern Trust Corp raised its stake in CPI Aerostructures by 3.0% during the 2nd quarter. Northern Trust Corp now owns 21,897 shares of the aerospace company’s stock valued at $205,000 after purchasing an additional 634 shares during the last quarter. Penn Capital Management Co. Inc. raised its stake in CPI Aerostructures by 17.3% during the 2nd quarter. Penn Capital Management Co. Inc. now owns 313,801 shares of the aerospace company’s stock valued at $2,950,000 after purchasing an additional 46,262 shares during the last quarter. Benchmark Capital Advisors raised its stake in CPI Aerostructures by 1.5% during the 2nd quarter. Benchmark Capital Advisors now owns 40,400 shares of the aerospace company’s stock valued at $380,000 after purchasing an additional 600 shares during the last quarter. Finally, Boston Partners raised its stake in CPI Aerostructures by 14.1% during the 2nd quarter. Boston Partners now owns 51,024 shares of the aerospace company’s stock valued at $480,000 after purchasing an additional 6,300 shares during the last quarter.
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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