LMI Aerospace (NASDAQ:LMIA)‘s stock had its “buy” rating restated by research analysts at Deutsche Bank in a report released on Wednesday, StockRatingsNetwork reports. They currently have a $18.00 target price on the stock, down from their previous target price of $19.00. Deutsche Bank’s price objective would indicate a potential upside of 63.93% from the stock’s previous close.
The analysts wrote, “EPS of 16c in the quarter was shy of our 21c on modestly lower sales and 130bps worse margins, which was somewhat offset by lower taxes in the quarter. Management continues to struggle with its Valent acquisition as well as incremental declines in the Engineered Services segment. Though management isn’t looking at strategic alternatives for the whole company, the divesture of the contracted engineering work in the Engineered Services segment seems like a possibility. reiterate Buy.”
A number of other analysts have also recently weighed in on LMIA. Analysts at Wells Fargo & Co. downgraded shares of LMI Aerospace from an “outperform” rating to a “market perform” rating in a research note to investors on Tuesday. Analysts at Zacks downgraded shares of LMI Aerospace from a “neutral” rating to an “underperform” rating in a research note to investors on Tuesday, September 10th. They now have a $11.60 price target on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. LMI Aerospace has a consensus rating of “Hold” and an average target price of $19.90.
Shares of LMI Aerospace (NASDAQ:LMIA) traded up 15.76% on Wednesday, hitting $12.71. 442,980 shares of the company’s stock traded hands. LMI Aerospace has a 1-year low of $10.81 and a 1-year high of $23.20. The stock’s 50-day moving average is $14.23 and its 200-day moving average is $16.57. The company has a market cap of $160.4 million and a P/E ratio of 10.37.
LMI Aerospace (NASDAQ:LMIA) last announced its earnings results on Tuesday, November 12th. The company reported $0.16 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.22 by $0.06. The company had revenue of $104.70 million for the quarter, compared to the consensus estimate of $108.70 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. The company’s quarterly revenue was up 48.3% on a year-over-year basis. On average, analysts predict that LMI Aerospace will post $0.90 earnings per share for the current fiscal year.
LMI Aerospace, Inc (NASDAQ:LMIA) is a provider of design engineering services, structural assemblies, kits and components to the aerospace, defense and technology markets.
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