Innovative Solutions and Support (NASDAQ:IA) Stock Rating Lowered by Wall Street Zen

Innovative Solutions and Support (NASDAQ:IA) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday, Wall Street Zen reports.

IA has been the topic of a number of other reports. Weiss Ratings raised Innovative Solutions and Support from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Zacks Research cut Innovative Solutions and Support from a “strong-buy” rating to a “hold” rating in a report on Friday, October 16th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Innovative Solutions and Support currently has a consensus rating of “Moderate Buy”.

Innovative Solutions and Support Price Performance

Shares of Innovative Solutions and Support stock opened at $19.66 on Friday. The company has a 50-day moving average price of $19.23. Innovative Solutions and Support has a one year low of $8.13 and a one year high of $30.94. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.97 and a quick ratio of 1.49. The company has a market cap of $351.91 million, a price-to-earnings ratio of 18.72 and a beta of 0.60.

Innovative Solutions and Support (NASDAQ:IA) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.33 earnings per share (EPS) for the quarter. Innovative Solutions and Support had a return on equity of 30.53% and a net margin of 20.50%. The business had revenue of $26.73 million for the quarter. On average, sell-side analysts expect that Innovative Solutions and Support will post 1.03 EPS for the current year.

Hedge Funds Weigh In On Innovative Solutions and Support

A number of hedge funds have recently bought and sold shares of IA. Isthmus Partners LLC bought a new stake in shares of Innovative Solutions and Support in the 3rd quarter worth $3,181,000. Triumph Capital Management raised its holdings in shares of Innovative Solutions and Support by 80.6% in the third quarter. Triumph Capital Management now owns 1,400 shares of the company’s stock valued at $26,000 after purchasing an additional 625 shares during the last quarter. State Street Corp bought a new position in shares of Innovative Solutions and Support during the second quarter valued at about $3,407,000. WINTON GROUP Ltd bought a new position in shares of Innovative Solutions and Support during the second quarter valued at about $265,000. Finally, Engineers Gate Manager LP bought a new position in shares of Innovative Solutions and Support during the second quarter valued at about $325,000. 28.53% of the stock is owned by hedge funds and other institutional investors.

About Innovative Solutions and Support

Innovative Solutions and Support, Inc (NASDAQ: IA) is an aerospace technology company that develops, manufactures and supports avionics and cockpit systems. Its products are designed for commercial air transport, business and general aviation, and military aircraft.

The company’s offerings include advanced flight displays, electronic flight instrument systems, air data and navigation systems, integrated cockpit solutions, and other aircraft instrumentation and avionics. Innovative Solutions and Support serves both original-equipment manufacturers and aircraft operators, including customers seeking to upgrade or modernize existing aircraft.

Founded in 1988 and headquartered in Exton, Pennsylvania, the company provides products and support for aircraft operating in domestic and international markets.