Zacks Investment Research Upgrades CPI Aerostructures (CVU) to “Buy”

CPI Aerostructures (NYSEAMERICAN:CVU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The firm currently has a $11.00 price objective on the aerospace company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 12.82% 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. “

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Separately, B. Riley restated a “buy” rating on shares of CPI Aerostructures in a research report on Tuesday, March 20th. Five equities research analysts have rated the stock with a buy rating, CPI Aerostructures currently has a consensus rating of “Buy” and a consensus price target of $11.33.

Shares of NYSEAMERICAN CVU traded up $0.05 during midday trading on Monday, hitting $9.75. The stock had a trading volume of 48,000 shares, compared to its average volume of 29,025. CPI Aerostructures has a 52 week low of $5.55 and a 52 week high of $10.05.

CPI Aerostructures (NYSEAMERICAN:CVU) last issued its quarterly earnings data on Thursday, March 22nd. The aerospace company reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.02. The company had revenue of $23.80 million for the quarter, compared to the consensus estimate of $24.40 million. CPI Aerostructures had a net margin of 8.19% and a return on equity of 9.55%.

Hedge funds have recently made changes to their positions in the business. Northern Trust Corp increased its holdings in CPI Aerostructures by 3.0% during the second quarter. Northern Trust Corp now owns 21,897 shares of the aerospace company’s stock valued at $205,000 after buying an additional 634 shares during the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in CPI Aerostructures during the fourth quarter valued at approximately $359,000. Kennedy Capital Management Inc. increased its holdings in CPI Aerostructures by 32.2% during the fourth quarter. Kennedy Capital Management Inc. now owns 101,721 shares of the aerospace company’s stock valued at $910,000 after buying an additional 24,790 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in CPI Aerostructures by 46.8% during the third quarter. Russell Investments Group Ltd. now owns 120,060 shares of the aerospace company’s stock valued at $1,122,000 after buying an additional 38,257 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in CPI Aerostructures by 19.2% during the third quarter. Dimensional Fund Advisors LP now owns 464,574 shares of the aerospace company’s stock valued at $4,344,000 after buying an additional 74,761 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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