CPI Aerostructures (CVU) Downgraded by Zacks Investment Research

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

Shares of CPI Aerostructures (CVU) opened at $9.15 on Tuesday. The company has a market capitalization of $79.31, a PE ratio of 13.86 and a beta of 0.34. CPI Aerostructures has a 52 week low of $5.55 and a 52 week high of $10.05.

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

Several institutional investors and hedge funds have recently modified their holdings of CVU. Northern Trust Corp boosted its position in CPI Aerostructures by 3.0% during the 2nd quarter. Northern Trust Corp now owns 21,897 shares of the aerospace company’s stock worth $205,000 after acquiring an additional 634 shares during the last quarter. NJ State Employees Deferred Compensation Plan boosted its position in CPI Aerostructures by 116.0% during the 3rd quarter. NJ State Employees Deferred Compensation Plan now owns 54,000 shares of the aerospace company’s stock worth $505,000 after acquiring an additional 29,000 shares during the last quarter. Russell Investments Group Ltd. boosted its position in CPI Aerostructures by 8.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 81,803 shares of the aerospace company’s stock worth $769,000 after acquiring an additional 6,300 shares during the last quarter. Boston Partners boosted its position in CPI Aerostructures by 74.5% during the 3rd quarter. Boston Partners now owns 89,024 shares of the aerospace company’s stock worth $832,000 after acquiring an additional 38,000 shares during the last quarter. Finally, Penn Capital Management Co. Inc. boosted its position in CPI Aerostructures by 17.3% during the 2nd quarter. Penn Capital Management Co. Inc. now owns 313,801 shares of the aerospace company’s stock worth $2,950,000 after acquiring an additional 46,262 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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