CPI Aerostructures (CVU) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research lowered shares of CPI Aerostructures (NYSEAMERICAN:CVU) from a hold rating to a sell rating in a research report released 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 reissued a buy rating and set a $12.00 target price on shares of CPI Aerostructures in a research report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $11.00.

CPI Aerostructures (NYSEAMERICAN CVU) traded up $0.40 during trading on Tuesday, hitting $9.35. The stock had a trading volume of 52,200 shares, compared to its average volume of 33,300. The company has a market capitalization of $79.31, a price-to-earnings ratio of 14.17 and a beta of 0.34. CPI Aerostructures has a twelve month low of $5.55 and a twelve month high of $10.05.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVU. Dimensional Fund Advisors LP boosted its holdings in CPI Aerostructures by 26.9% during the second quarter. Dimensional Fund Advisors LP now owns 389,813 shares of the aerospace company’s stock valued at $3,664,000 after purchasing an additional 82,742 shares in the last quarter. Penn Capital Management Co. Inc. boosted its holdings in CPI Aerostructures by 17.3% during the second quarter. Penn Capital Management Co. Inc. now owns 313,801 shares of the aerospace company’s stock valued at $2,950,000 after purchasing an additional 46,262 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in CPI Aerostructures by 46.8% during the third quarter. Russell Investments Group Ltd. now owns 120,060 shares of the aerospace company’s stock valued at $1,122,000 after purchasing an additional 38,257 shares in the last quarter. Boston Partners raised its stake in shares of CPI Aerostructures by 74.5% in the third quarter. Boston Partners now owns 89,024 shares of the aerospace company’s stock valued at $832,000 after acquiring an additional 38,000 shares during the last quarter. Finally, NJ State Employees Deferred Compensation Plan raised its stake in shares of CPI Aerostructures by 116.0% in the third quarter. NJ State Employees Deferred Compensation Plan now owns 54,000 shares of the aerospace company’s stock valued at $505,000 after acquiring an additional 29,000 shares during the last quarter.

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About CPI Aerostructures

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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