Innovative Solutions and Support (NASDAQ:ISSC) Releases Earnings Results, Misses Expectations By $0.02 EPS

Key Points

• Innovative Solutions and Support (NASDAQ:ISSC) reported earnings of $0.14 EPS, which was $0.02 below analysts' expectations of $0.16.
• The company's stock fell by 32.6% to $13.30 following the earnings announcement, with a market capitalization of $234.08 million.
• Analysts have recently upgraded ISSC, with Wall Street Zen changing its rating from "hold" to "buy" on May 21, and Singular Research raising it to "strong-buy" on May 16.

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) posted its earnings results on Thursday. The aerospace company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02), Zacks reports. The firm had revenue of $24.15 million for the quarter, compared to analysts' expectations of $19.20 million. Innovative Solutions and Support had a net margin of 15.10% and a return on equity of 24.77%.

Innovative Solutions and Support Price Performance

Innovative Solutions and Support stock traded up $0.10 during midday trading on Monday, reaching $13.78. 275,024 shares of the company were exchanged, compared to its average volume of 324,047. The company has a market capitalization of $242.48 million, a price-to-earnings ratio of 20.93 and a beta of 0.97. The firm's 50-day simple moving average is $14.61 and its 200-day simple moving average is $10.28. Innovative Solutions and Support has a 1 year low of $5.30 and a 1 year high of $20.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.66 and a current ratio of 4.87.

Insider Transactions at Innovative Solutions and Support

In other Innovative Solutions and Support news, major shareholder Christopher Harborne sold 145,009 shares of the firm's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $13.69, for a total value of $1,985,173.21. Following the sale, the insider directly owned 1,583,411 shares of the company's stock, valued at approximately $21,676,896.59. This trade represents a 8.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders sold 713,234 shares of company stock valued at $9,102,691. 4.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Innovative Solutions and Support

Hedge funds and other institutional investors have recently bought and sold shares of the business. Marshall Wace LLP boosted its position in Innovative Solutions and Support by 48.9% during the 2nd quarter. Marshall Wace LLP now owns 289,827 shares of the aerospace company's stock valued at $4,023,000 after purchasing an additional 95,178 shares during the period. Raymond James Financial Inc. boosted its position in Innovative Solutions and Support by 104.1% during the 2nd quarter. Raymond James Financial Inc. now owns 164,479 shares of the aerospace company's stock valued at $2,283,000 after purchasing an additional 83,894 shares during the period. Man Group plc boosted its position in Innovative Solutions and Support by 6.3% during the 2nd quarter. Man Group plc now owns 162,936 shares of the aerospace company's stock valued at $2,262,000 after purchasing an additional 9,595 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Innovative Solutions and Support by 415.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 157,250 shares of the aerospace company's stock valued at $2,183,000 after purchasing an additional 126,729 shares during the period. Finally, Geode Capital Management LLC boosted its position in Innovative Solutions and Support by 0.6% during the 2nd quarter. Geode Capital Management LLC now owns 123,258 shares of the aerospace company's stock valued at $1,711,000 after purchasing an additional 725 shares during the period. 28.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on ISSC shares. Wall Street Zen lowered shares of Innovative Solutions and Support from a "strong-buy" rating to a "buy" rating in a report on Saturday. Singular Research raised Innovative Solutions and Support to a "strong-buy" rating in a report on Friday, May 16th.

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.