CPI Aerostructures (NYSEAMERICAN:CVU) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of CPI Aerostructures (NYSEAMERICAN:CVU) in a report issued on Tuesday. The brokerage set a “buy” rating on the aerospace company’s stock.

CPI Aerostructures Price Performance

CVU stock opened at $2.71 on Tuesday. CPI Aerostructures has a 12-month low of $2.15 and a 12-month high of $4.34. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.80. The stock has a market cap of $34.82 million, a price-to-earnings ratio of 1.96 and a beta of 1.68.

CPI Aerostructures (NYSEAMERICAN:CVU) last issued its earnings results on Friday, April 5th. The aerospace company reported $0.08 earnings per share for the quarter. CPI Aerostructures had a return on equity of 32.45% and a net margin of 19.89%. The company had revenue of $23.50 million during the quarter.

Institutional Investors Weigh In On CPI Aerostructures

Institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC purchased a new stake in shares of CPI Aerostructures in the fourth quarter worth about $55,000. Renaissance Technologies LLC purchased a new position in CPI Aerostructures in the fourth quarter valued at about $61,000. NewEdge Advisors LLC boosted its holdings in CPI Aerostructures by 53.9% in the first quarter. NewEdge Advisors LLC now owns 19,671 shares of the aerospace company’s stock valued at $58,000 after purchasing an additional 6,892 shares during the last quarter. Geode Capital Management LLC purchased a new position in CPI Aerostructures in the fourth quarter valued at about $77,000. Finally, BlackRock Inc. purchased a new position in CPI Aerostructures in the second quarter valued at about $109,000. Hedge funds and other institutional investors own 25.98% of the company’s stock.

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. The company also offers aerosystems, such as reconnaissance pod structures and fuel panel systems; and supplies parts for maintenance, repair, and overhaul (MRO), as well as kitting contracts.