Published On: Wed, Sep 7th, 2016

CPI Aerostructures, Inc. (CVU) Upgraded to “Buy” by Zacks Investment Research

CPI Aerostructures, Inc. (NYSEMKT:CVU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage currently has a $7.50 price target on the stock. Zacks Investment Research’s price objective points to a potential upside of 10.95% from the company’s current price.
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. “
A number of other equities analysts also recently commented on the company. B. Riley restated a “buy” rating and issued a $9.75 price objective on shares of CPI Aerostructures in a report on Tuesday, August 9th. TheStreet downgraded CPI Aerostructures from a “hold” rating to a “sell” rating in a report on Wednesday, June 1st.

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A hedge fund recently raised its stake in CPI Aerostructures stock. Renaissance Technologies LLC increased its stake in shares of CPI Aerostructures, Inc. (NYSEMKT:CVU) by 94.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,100 shares of the company’s stock after buying an additional 15,594 shares during the period. Renaissance Technologies LLC owned 0.37% of CPI Aerostructures worth $235,000 at the end of the most recent reporting period.
Shares of CPI Aerostructures (NYSEMKT:CVU) traded up 5.95% during mid-day trading on Tuesday, hitting $6.77. 13,874 shares of the company’s stock were exchanged. CPI Aerostructures has a 52 week low of $4.35 and a 52 week high of $9.94. The company’s market capitalization is $58.38 million. The firm has a 50 day moving average price of $6.63 and a 200-day moving average price of $6.90.
CPI Aerostructures (NYSEMKT:CVU) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.06. The firm earned $22.30 million during the quarter, compared to analyst estimates of $22 million. On average, equities analysts anticipate that CPI Aerostructures will post $0.68 EPS for the current year.
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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