CPI Aerostructures, Inc. (CVU) Stock Rating Lowered by 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 to investors on Wednesday.
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 reaffirmed a “buy” rating and set a $9.75 target price on shares of CPI Aerostructures in a research note on Tuesday, August 9th.
Shares of CPI Aerostructures (NYSEMKT:CVU) opened at 6.75 on Wednesday. The firm’s market capitalization is $58.21 million. The firm has a 50-day moving average of $6.62 and a 200 day moving average of $6.63. CPI Aerostructures has a 52 week low of $4.35 and a 52 week high of $9.84.
CPI Aerostructures (NYSEMKT:CVU) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.15 by $0.06. The company earned $22.30 million during the quarter, compared to analyst estimates of $22 million. On average, equities research analysts expect that CPI Aerostructures will post $0.68 EPS for the current fiscal year.
Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in CPI Aerostructures by 0.4% in the second quarter. Vanguard Group Inc. now owns 227,194 shares of the company’s stock worth $1,397,000 after buying an additional 802 shares during the period. Royce & Associates LP increased its position in CPI Aerostructures by 16.5% in the second quarter. Royce & Associates LP now owns 634,066 shares of the company’s stock worth $3,900,000 after buying an additional 90,000 shares during the period. Boston Partners increased its position in CPI Aerostructures by 1.2% in the second quarter. Boston Partners now owns 52,694 shares of the company’s stock worth $324,000 after buying an additional 610 shares during the period. Heartland Advisors Inc. increased its position in CPI Aerostructures by 1.6% in the second quarter. Heartland Advisors Inc. now owns 500,000 shares of the company’s stock worth $3,075,000 after buying an additional 8,038 shares during the period. Finally, Rutabaga Capital Management LLC MA increased its position in CPI Aerostructures by 0.4% in the second quarter. Rutabaga Capital Management LLC MA now owns 577,409 shares of the company’s stock worth $3,551,000 after buying an additional 2,219 shares during the period.
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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