Northland Securities Initiates Coverage on Innovative Solutions and Support (NASDAQ:ISSC)

Northland Securities started coverage on shares of Innovative Solutions and Support (NASDAQ:ISSC) in a note issued to investors on Friday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $16.50 price target on the aerospace company’s stock. Northland Securities’ target price indicates a potential upside of 84.56% from the stock’s current price.

Several other equities research analysts have also commented on ISSC. Wall Street Zen lowered shares of Innovative Solutions and Support from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Innovative Solutions and Support in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Innovative Solutions and Support presently has a consensus rating of “Buy” and an average target price of $16.50.

Innovative Solutions and Support Stock Performance

Shares of Innovative Solutions and Support stock opened at $8.94 on Friday. The company has a quick ratio of 1.69, a current ratio of 3.53 and a debt-to-equity ratio of 0.41. Innovative Solutions and Support has a 52 week low of $5.30 and a 52 week high of $20.00. The firm’s 50 day moving average is $10.57 and its two-hundred day moving average is $12.14. The firm has a market capitalization of $157.67 million, a P/E ratio of 13.55 and a beta of 0.77.

Institutional Investors Weigh In On Innovative Solutions and Support

Institutional investors and hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC grew its holdings in shares of Innovative Solutions and Support by 60.9% during the third quarter. NewEdge Advisors LLC now owns 20,400 shares of the aerospace company’s stock worth $255,000 after buying an additional 7,722 shares during the last quarter. Punch & Associates Investment Management Inc. lifted its position in Innovative Solutions and Support by 46.0% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 306,695 shares of the aerospace company’s stock worth $3,831,000 after acquiring an additional 96,695 shares during the period. Bank of America Corp DE lifted its position in Innovative Solutions and Support by 589.9% during the 3rd quarter. Bank of America Corp DE now owns 9,113 shares of the aerospace company’s stock worth $114,000 after acquiring an additional 7,792 shares during the period. Lazard Asset Management LLC grew its stake in shares of Innovative Solutions and Support by 152.9% in the 3rd quarter. Lazard Asset Management LLC now owns 109,829 shares of the aerospace company’s stock valued at $1,372,000 after purchasing an additional 66,403 shares during the last quarter. Finally, Ancora Advisors LLC acquired a new position in shares of Innovative Solutions and Support in the third quarter valued at approximately $2,031,000. 28.53% of the stock is owned by hedge funds and other institutional investors.

Innovative Solutions and Support Company Profile

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.