CPI Aerostructures, Inc. (CVU) Upgraded to “Buy” by Zacks Investment Research
CPI Aerostructures, Inc. (NYSEMKT:CVU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The firm presently has a $9.75 price target on the aerospace company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 15.38% from the company’s previous close.
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. “
Other equities research analysts have also recently issued research reports about the company. B. Riley reissued a “buy” rating and set a $9.50 target price on shares of CPI Aerostructures in a report on Monday, May 15th. ValuEngine cut CPI Aerostructures from a “strong-buy” rating to a “buy” rating in a report on Friday, June 9th. TheStreet raised CPI Aerostructures from a “d+” rating to a “c-” rating in a report on Tuesday, May 23rd. Noble Financial restated a “buy” rating on shares of CPI Aerostructures in a research report on Wednesday, August 9th. Finally, Canaccord Genuity lifted their price target on shares of CPI Aerostructures from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Five research analysts have rated the stock with a buy rating, CPI Aerostructures currently has a consensus rating of “Buy” and a consensus price target of $10.92.
CPI Aerostructures (NYSEMKT CVU) traded down 1.74% during midday trading on Friday, hitting $8.45. The company had a trading volume of 20,623 shares. CPI Aerostructures has a 12-month low of $5.55 and a 12-month high of $10.15. The stock has a market cap of $74.75 million, a price-to-earnings ratio of 12.78 and a beta of 0.79. The company’s 50 day moving average is $8.98 and its 200 day moving average is $7.99.
CPI Aerostructures (NYSEMKT:CVU) last announced its earnings results on Tuesday, August 8th. The aerospace company reported $0.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.02. CPI Aerostructures had a return on equity of 4.40% and a net margin of 4.58%. The firm had revenue of $16.73 million for the quarter, compared to analysts’ expectations of $17.57 million. The company’s revenue was down 24.9% on a year-over-year basis. On average, equities analysts anticipate that CPI Aerostructures will post $0.60 EPS for the current fiscal year.
A number of institutional investors have recently bought and sold shares of CVU. TFS Capital LLC acquired a new position in CPI Aerostructures in the first quarter worth approximately $120,000. Royce & Associates LP grew its position in CPI Aerostructures by 13.6% in the first quarter. Royce & Associates LP now owns 712,866 shares of the aerospace company’s stock worth $4,812,000 after buying an additional 85,600 shares during the last quarter. Dimensional Fund Advisors LP grew its position in CPI Aerostructures by 22.4% in the first quarter. Dimensional Fund Advisors LP now owns 307,071 shares of the aerospace company’s stock worth $2,073,000 after buying an additional 56,211 shares during the last quarter. Russell Investments Group Ltd. grew its position in CPI Aerostructures by 8.3% in the second quarter. Russell Investments Group Ltd. now owns 81,803 shares of the aerospace company’s stock worth $769,000 after buying an additional 6,300 shares during the last quarter. Finally, Algert Global LLC acquired a new position in CPI Aerostructures in the second quarter worth approximately $181,000.
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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