Zacks Investment Research upgraded shares of CPI Aerostructures (NYSEAMERICAN:CVU) from a sell rating to a hold rating in a report published on Friday.
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 equities research analysts have also issued reports on CVU. Noble Financial upgraded CPI Aerostructures from a hold rating to a buy rating and set a $11.00 price target for the company in a research report on Thursday, August 9th. Canaccord Genuity restated a buy rating and issued a $12.00 price target on shares of CPI Aerostructures in a research report on Wednesday, August 8th.
Shares of CPI Aerostructures stock traded down $0.14 during mid-day trading on Friday, reaching $7.57. 20,934 shares of the stock traded hands, compared to its average volume of 33,885. CPI Aerostructures has a fifty-two week low of $6.38 and a fifty-two week high of $11.75.
CPI Aerostructures (NYSEAMERICAN:CVU) last announced its earnings results on Thursday, November 8th. The aerospace company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. The firm had revenue of $19.95 million for the quarter, compared to analyst estimates of $20.25 million.
Institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC purchased a new position in CPI Aerostructures in the second quarter worth approximately $124,000. Wedge Capital Management L L P NC purchased a new position in CPI Aerostructures in the second quarter worth approximately $414,000. Russell Investments Group Ltd. grew its position in CPI Aerostructures by 8.5% in the second quarter. Russell Investments Group Ltd. now owns 136,234 shares of the aerospace company’s stock worth $1,429,000 after acquiring an additional 10,686 shares during the period. Dimensional Fund Advisors LP grew its position in CPI Aerostructures by 3.3% in the first quarter. Dimensional Fund Advisors LP now owns 508,756 shares of the aerospace company’s stock worth $4,960,000 after acquiring an additional 16,335 shares during the period. Finally, Ariel Investments LLC grew its position in CPI Aerostructures by 11.4% in the second quarter. Ariel Investments LLC now owns 776,157 shares of the aerospace company’s stock worth $8,150,000 after acquiring an additional 79,454 shares during the period.
CPI Aerostructures Company Profile
CPI Aerostructures, Inc engages in the contract production of structural aircraft parts for fixed wing aircraft and helicopters in the commercial and defense markets. It also offers aero systems, such as reconnaissance pod structures and fuel panel systems; and supplies parts for maintenance, repair, and overhaul (MRO), as well as kitting contracts.
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