CPI Aerostructures, Inc. (NYSEMKT:CVU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued 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 reissued a “buy” rating and set a $9.75 target price on shares of CPI Aerostructures in a research report on Tuesday, August 2nd.
CPI Aerostructures (NYSEMKT:CVU) opened at 6.75 on Wednesday. CPI Aerostructures has a 52-week low of $4.35 and a 52-week high of $9.84. The company has a 50 day moving average of $6.62 and a 200-day moving average of $6.63. The stock’s market capitalization is $58.21 million.
CPI Aerostructures (NYSEMKT:CVU) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.06. The business had revenue of $22.30 million for the quarter, compared to analyst estimates of $22 million. Equities research analysts anticipate that CPI Aerostructures will post $0.68 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of CVU. Boston Partners raised its stake in shares of 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. Vanguard Group Inc. raised its stake in shares of 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. Rutabaga Capital Management LLC MA raised its stake in shares of 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. Heartland Advisors Inc. raised its stake in shares of 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, Renaissance Technologies LLC raised its stake in shares of CPI Aerostructures by 94.5% in the first quarter. Renaissance Technologies LLC now owns 32,100 shares of the company’s stock worth $235,000 after buying an additional 15,594 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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