Innovative Solutions and Support (NASDAQ:ISSC) Downgraded to “Buy” Rating by Wall Street Zen

Innovative Solutions and Support (NASDAQ:ISSC) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

Separately, Singular Research raised Innovative Solutions and Support to a “strong-buy” rating in a research report on Friday, May 16th.

Innovative Solutions and Support Price Performance

Shares of NASDAQ ISSC opened at $13.68 on Friday. The business’s 50 day moving average price is $14.61 and its two-hundred day moving average price is $10.29. The company has a market cap of $240.77 million, a PE ratio of 20.73 and a beta of 0.97. The company has a quick ratio of 2.66, a current ratio of 4.87 and a debt-to-equity ratio of 0.51. Innovative Solutions and Support has a twelve month low of $5.30 and a twelve month high of $20.00.

Innovative Solutions and Support (NASDAQ:ISSC) last announced its quarterly earnings results on Thursday, August 14th. The aerospace company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The business had revenue of $24.15 million for the quarter, compared to analyst estimates of $19.20 million. Innovative Solutions and Support had a return on equity of 24.77% and a net margin of 15.10%.

Insider Activity

In other news, major shareholder Christopher Harborne sold 145,009 shares of the business’s stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $13.69, for a total transaction of $1,985,173.21. Following the completion of the sale, the insider owned 1,583,411 shares in the company, valued at $21,676,896.59. The trade was a 8.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 713,234 shares of company stock worth $9,102,691 in the last three months. Insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Innovative Solutions and Support

A number of institutional investors have recently made changes to their positions in ISSC. Marshall Wace LLP bought a new stake in shares of Innovative Solutions and Support during the fourth quarter worth approximately $1,283,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Innovative Solutions and Support by 415.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 157,250 shares of the aerospace company’s stock worth $2,183,000 after acquiring an additional 126,729 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Innovative Solutions and Support by 155.3% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 145,389 shares of the aerospace company’s stock worth $2,018,000 after acquiring an additional 88,442 shares during the period. Punch & Associates Investment Management Inc. boosted its holdings in shares of Innovative Solutions and Support by 68.0% during the first quarter. Punch & Associates Investment Management Inc. now owns 210,000 shares of the aerospace company’s stock worth $1,321,000 after acquiring an additional 85,000 shares during the period. Finally, Raymond James Financial Inc. boosted its holdings in shares of Innovative Solutions and Support by 104.1% during the second quarter. Raymond James Financial Inc. now owns 164,479 shares of the aerospace company’s stock worth $2,283,000 after acquiring an additional 83,894 shares during the period. Institutional investors own 28.53% of the company’s stock.

About Innovative Solutions and Support

Innovative Solutions and Support, Inc, a systems integrator, designs, develops, manufactures, sells, and services flight guidance, autothrottles, and cockpit display systems in the United States and internationally. It offers flat panel display systems that replicate the display of analog or digital displays on one screen and replace existing displays in legacy aircraft, as well as used for security monitoring on-board aircraft and as tactical workstations on military aircraft; and flight deck management system, a navigation and performance computer that upgrade for commercial air transport aircraft.