Innovative Solutions and Support (NASDAQ:IA) Stock Rating Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Innovative Solutions and Support (NASDAQ:IA) from a buy rating to a hold rating in a research note released on Saturday morning,Wall Street Zen reports.

A number of other equities analysts have also recently commented on IA. Weiss Ratings raised shares of Innovative Solutions and Support from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Zacks Research lowered shares of Innovative Solutions and Support from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 16th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Innovative Solutions and Support Stock Up 1.0%

Shares of IA stock opened at $19.66 on Friday. The stock has a fifty day simple moving average of $19.23. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.49 and a current ratio of 2.97. The company has a market capitalization of $351.91 million, a price-to-earnings ratio of 18.72 and a beta of 0.60. Innovative Solutions and Support has a 12 month low of $8.13 and a 12 month high of $30.94.

Innovative Solutions and Support (NASDAQ:IA) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.33 earnings per share for the quarter. Innovative Solutions and Support had a return on equity of 30.53% and a net margin of 20.50%. The firm had revenue of $26.73 million during the quarter. On average, equities analysts predict that Innovative Solutions and Support will post 1.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Triumph Capital Management grew its holdings in shares of Innovative Solutions and Support by 80.6% during the third quarter. Triumph Capital Management now owns 1,400 shares of the company’s stock worth $26,000 after purchasing an additional 625 shares during the last quarter. WINTON GROUP Ltd bought a new position in shares of Innovative Solutions and Support during the second quarter valued at $265,000. Engineers Gate Manager LP bought a new position in shares of Innovative Solutions and Support during the second quarter valued at $325,000. NewEdge Advisors LLC acquired a new position in shares of Innovative Solutions and Support during the second quarter worth $367,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Innovative Solutions and Support during the second quarter worth $1,868,000. 28.53% of the stock is currently owned by institutional investors and hedge funds.

Innovative Solutions and Support Company Profile

Innovative Solutions and Support, Inc (NASDAQ: IA) is an aerospace technology company that develops, manufactures and supports avionics and cockpit systems. Its products are designed for commercial air transport, business and general aviation, and military aircraft.

The company’s offerings include advanced flight displays, electronic flight instrument systems, air data and navigation systems, integrated cockpit solutions, and other aircraft instrumentation and avionics. Innovative Solutions and Support serves both original-equipment manufacturers and aircraft operators, including customers seeking to upgrade or modernize existing aircraft.

Founded in 1988 and headquartered in Exton, Pennsylvania, the company provides products and support for aircraft operating in domestic and international markets.