Zacks Investment Research cut shares of CPI Aerostructures (NYSEAMERICAN:CVU) from a hold rating to a sell rating in a report released on Monday morning.
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. “
Several other equities research analysts also recently weighed in on CVU. Canaccord Genuity restated a buy rating and issued a $12.00 target price on shares of CPI Aerostructures in a research note on Wednesday, August 8th. Noble Financial upgraded shares of CPI Aerostructures from a hold rating to a buy rating and set a $11.00 target price for the company in a research note on Thursday, August 9th.
CPI Aerostructures (NYSEAMERICAN:CVU) last released its quarterly earnings data on Thursday, November 8th. The aerospace company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.02. The business had revenue of $19.95 million for the quarter, compared to the consensus estimate of $20.25 million.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ancora Advisors LLC lifted its stake in shares of CPI Aerostructures by 39.0% during the third quarter. Ancora Advisors LLC now owns 73,258 shares of the aerospace company’s stock worth $612,000 after buying an additional 20,559 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of CPI Aerostructures by 5.5% during the third quarter. Dimensional Fund Advisors LP now owns 564,909 shares of the aerospace company’s stock worth $4,717,000 after buying an additional 29,523 shares during the period. Ariel Investments LLC lifted its stake in shares of CPI Aerostructures by 11.4% during the second quarter. Ariel Investments LLC now owns 776,157 shares of the aerospace company’s stock worth $8,150,000 after buying an additional 79,454 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of CPI Aerostructures by 8.5% during the second quarter. Russell Investments Group Ltd. now owns 136,234 shares of the aerospace company’s stock worth $1,429,000 after buying an additional 10,686 shares during the period. Finally, Wedge Capital Management L L P NC acquired a new stake in shares of CPI Aerostructures during the second quarter worth $414,000.
About CPI Aerostructures
CPI Aerostructures, Inc engages in the contract production of structural aircraft parts for fixed wing aircraft and helicopters in the commercial and defense markets. It also offers aero systems, such as reconnaissance pod structures and fuel panel systems; and supplies parts for maintenance, repair, and overhaul (MRO), as well as kitting contracts.
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