CPI Aerostructures (CVU) Upgraded to “Hold” by Zacks Investment Research

CPI Aerostructures (NYSEAMERICAN:CVU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors 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 restated a “buy” rating and issued a $12.00 price target on shares of CPI Aerostructures in a research note on Tuesday, November 7th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. CPI Aerostructures has a consensus rating of “Buy” and a consensus price target of $11.00.

CPI Aerostructures (CVU) traded down $0.20 during mid-day trading on Tuesday, hitting $9.10. The company’s stock had a trading volume of 23,883 shares, compared to its average volume of 29,967. CPI Aerostructures has a 1 year low of $5.55 and a 1 year high of $10.05. The stock has a market cap of $81.08, a P/E ratio of 13.79 and a beta of 0.35.

CPI Aerostructures (NYSEAMERICAN:CVU) last posted its earnings results on Wednesday, November 8th. The aerospace company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. CPI Aerostructures had a return on equity of 9.55% and a net margin of 8.19%. The firm had revenue of $20.71 million for the quarter, compared to the consensus estimate of $22.03 million. During the same quarter in the prior year, the business earned $0.19 EPS. The business’s revenue for the quarter was down 6.3% on a year-over-year basis.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVU. Heartland Advisors Inc. lifted its holdings in shares of CPI Aerostructures by 25.6% during the 1st quarter. Heartland Advisors Inc. now owns 770,000 shares of the aerospace company’s stock valued at $5,198,000 after buying an additional 156,900 shares during the period. Emerald Acquisition Ltd. bought a new position in shares of CPI Aerostructures during the 2nd quarter valued at $612,000. Royce & Associates LP lifted its holdings in shares of CPI Aerostructures by 16.5% during the 2nd quarter. Royce & Associates LP now owns 634,066 shares of the aerospace company’s stock valued at $3,900,000 after buying an additional 90,000 shares during the period. Russell Investments Group Ltd. bought a new position in shares of CPI Aerostructures during the 4th quarter valued at $836,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of 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 buying an additional 82,742 shares during the period.

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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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