Russell Investments Group Ltd. lifted its holdings in shares of CPI Aerostructures, Inc. (NYSEMKT:CVU) by 8.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 81,803 shares of the aerospace company’s stock after acquiring an additional 6,300 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.93% of CPI Aerostructures worth $769,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. TFS Capital LLC acquired a new stake in CPI Aerostructures during the 1st quarter worth approximately $120,000. Dimensional Fund Advisors LP lifted its holdings in CPI Aerostructures by 22.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 307,071 shares of the aerospace company’s stock worth $2,073,000 after purchasing an additional 56,211 shares during the last quarter. Finally, Royce & Associates LP lifted its holdings in CPI Aerostructures by 13.6% during the 1st quarter. Royce & Associates LP now owns 712,866 shares of the aerospace company’s stock worth $4,812,000 after purchasing an additional 85,600 shares during the last quarter.
Several equities analysts have weighed in on CVU shares. Zacks Investment Research raised CPI Aerostructures from a “hold” rating to a “buy” rating and set a $9.75 price objective for the company in a report on Friday, September 8th. B. Riley reaffirmed a “buy” rating and issued a $12.00 price objective on shares of CPI Aerostructures in a report on Sunday, August 13th. Noble Financial reaffirmed a “buy” rating on shares of CPI Aerostructures in a report on Wednesday, August 9th. Canaccord Genuity lifted their price objective on CPI Aerostructures from $10.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. Finally, ValuEngine cut CPI Aerostructures from a “strong-buy” rating to a “buy” rating in a report on Friday, June 9th. Five equities research analysts have rated the stock with a buy rating, CPI Aerostructures has a consensus rating of “Buy” and a consensus target price of $10.92.
Shares of CPI Aerostructures, Inc. (CVU) traded up 5.36% during trading on Friday, reaching $8.85. The company’s stock had a trading volume of 16,184 shares. CPI Aerostructures, Inc. has a 52-week low of $5.55 and a 52-week high of $10.15. The stock has a market cap of $78.29 million, a P/E ratio of 13.39 and a beta of 0.79. The stock has a 50-day moving average of $8.81 and a 200-day moving average of $8.01.
CPI Aerostructures (NYSEMKT:CVU) last posted its quarterly earnings results on Tuesday, August 8th. The aerospace company reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.02. CPI Aerostructures had a return on equity of 4.40% and a net margin of 4.58%. The firm had revenue of $16.73 million during the quarter, compared to analyst estimates of $17.57 million. CPI Aerostructures’s revenue was down 24.9% compared to the same quarter last year. Analysts predict that CPI Aerostructures, Inc. will post $0.60 earnings per share for the current fiscal year.
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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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