CPI Aerostructures, Inc. (CVU) Cut to Hold at Zacks Investment Research
CPI Aerostructures, Inc. (NYSEMKT:CVU) was downgraded by Zacks Investment Research from a “buy” 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. “
A number of other research analysts have also recently weighed in on CVU. B. Riley reiterated a “buy” rating and set a $12.00 price objective on shares of CPI Aerostructures in a research report on Thursday, August 3rd. Canaccord Genuity boosted their price objective on shares of CPI Aerostructures from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. Finally, Noble Financial reiterated a “buy” rating on shares of CPI Aerostructures in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. CPI Aerostructures currently has an average rating of “Buy” and an average target price of $11.00.
Shares of CPI Aerostructures (NYSEMKT:CVU) traded down 2.20% during midday trading on Tuesday, reaching $8.90. 18,470 shares of the company’s 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 $8.87 and its 200-day moving average is $8.27. The stock has a market cap of $78.73 million, a PE ratio of 13.46 and a beta of 0.79.
CPI Aerostructures (NYSEMKT:CVU) last posted its quarterly earnings data on Tuesday, August 8th. The aerospace company reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.02. CPI Aerostructures had a net margin of 4.58% and a return on equity of 4.40%. The business had revenue of $16.73 million for the quarter, compared to analysts’ expectations of $17.57 million. The company’s revenue for the quarter was down 24.9% compared to the same quarter last year. On average, equities analysts expect that CPI Aerostructures will post $0.60 EPS for the current year.
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A number of institutional investors have recently modified their holdings of CVU. Algert Global LLC bought a new position in CPI Aerostructures during the 2nd quarter worth about $181,000. Northern Trust Corp grew its holdings in CPI Aerostructures by 3.0% during the 2nd quarter. Northern Trust Corp now owns 21,897 shares of the aerospace company’s stock worth $205,000 after acquiring an additional 634 shares in the last quarter. Benchmark Capital Advisors grew its holdings in CPI Aerostructures by 1.5% during the 2nd quarter. Benchmark Capital Advisors now owns 40,400 shares of the aerospace company’s stock worth $380,000 after acquiring an additional 600 shares in the last quarter. Boston Partners grew its holdings in CPI Aerostructures by 14.1% during 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 in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in CPI Aerostructures by 8.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 81,803 shares of the aerospace company’s stock worth $769,000 after acquiring an additional 6,300 shares in 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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