CPI Aerostructures (CVU) Upgraded by Noble Financial to Buy

Noble Financial upgraded shares of CPI Aerostructures (NYSEAMERICAN:CVU) from a hold rating to a buy rating in a research report sent to investors on Thursday, August 9th, The Fly reports. They currently have $11.00 target price on the aerospace company’s stock.

A number of other equities analysts have also recently weighed in on the company. Zacks Investment Research cut CPI Aerostructures from a strong-buy rating to a hold rating in a report on Tuesday, July 17th. Canaccord Genuity reiterated a buy rating and set a $12.00 price objective on shares of CPI Aerostructures in a research note on Wednesday, August 8th.

CVU remained flat at $$8.35 on Thursday. The company’s stock had a trading volume of 12,000 shares, compared to its average volume of 28,575. CPI Aerostructures has a 12 month low of $7.60 and a 12 month high of $11.75.

CPI Aerostructures (NYSEAMERICAN:CVU) last issued its quarterly earnings results on Wednesday, August 8th. The aerospace company reported $0.14 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.14. The company had revenue of $20.26 million during the quarter, compared to analysts’ expectations of $20.50 million. CPI Aerostructures had a return on equity of 9.55% and a net margin of 8.19%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVU. Ancora Advisors LLC lifted its stake in CPI Aerostructures by 71.2% during the first quarter. Ancora Advisors LLC now owns 52,412 shares of the aerospace company’s stock worth $511,000 after purchasing an additional 21,789 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in CPI Aerostructures during the second quarter worth $414,000. Ironwood Investment Management LLC lifted its stake in CPI Aerostructures by 29.3% during the first quarter. Ironwood Investment Management LLC now owns 64,019 shares of the aerospace company’s stock worth $624,000 after purchasing an additional 14,497 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in CPI Aerostructures by 3.3% during the first quarter. Dimensional Fund Advisors LP now owns 508,756 shares of the aerospace company’s stock worth $4,960,000 after purchasing an additional 16,335 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new position in CPI Aerostructures during the first quarter worth $121,000.

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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