Zacks Investment Research upgraded shares of CPI Aerostructures (NYSEAMERICAN:CVU) from a sell rating to a hold rating in a research note published on Friday morning.
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. “
CVU has been the topic of several other reports. Noble Financial upgraded CPI Aerostructures from a hold rating to a buy rating and set a $11.00 price objective on the stock in a research note on Thursday, August 9th. Canaccord Genuity reiterated a buy rating and issued a $12.00 price objective on shares of CPI Aerostructures in a research note on Wednesday, August 8th.
Shares of NYSEAMERICAN CVU traded down $0.14 during mid-day trading on Friday, hitting $7.57. The company had a trading volume of 20,934 shares, compared to its average volume of 33,885. CPI Aerostructures has a 1-year low of $6.38 and a 1-year high of $11.75.
CPI Aerostructures (NYSEAMERICAN:CVU) last announced its quarterly earnings data on Thursday, November 8th. The aerospace company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.02. The company had revenue of $19.95 million during the quarter, compared to analyst estimates of $20.25 million.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new stake in shares of CPI Aerostructures in the second quarter valued at $124,000. Wedge Capital Management L L P NC acquired a new stake in CPI Aerostructures in the second quarter valued at $414,000. Russell Investments Group Ltd. raised its stake 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 valued at $1,429,000 after buying an additional 10,686 shares in the last quarter. Dimensional Fund Advisors LP raised its stake 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 valued at $4,960,000 after buying an additional 16,335 shares in the last quarter. Finally, Ariel Investments LLC raised its stake in CPI Aerostructures by 11.4% in the second quarter. Ariel Investments LLC now owns 776,157 shares of the aerospace company’s stock valued at $8,150,000 after buying an additional 79,454 shares in the last quarter.
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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