Innovative Solutions and Support (NASDAQ:ISSC) Stock Rating Lowered by Wall Street Zen

Key Points

• Innovative Solutions and Support's stock rating was downgraded from "buy" to "hold" by Wall Street Zen, while Singular Research maintained a "strong-buy" rating.
• The company's shares recently rose by 5.1%, with current trading at approximately $14.23, and a market capitalization of $250.85 million.
• Despite a revenue of $24.15 million in the last quarter, Innovative Solutions and Support missed earnings per share estimates, reporting $0.14 instead of the expected $0.16.

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Sunday.

Separately, Singular Research raised shares of Innovative Solutions and Support to a "strong-buy" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, Innovative Solutions and Support currently has a consensus rating of "Strong Buy".

Innovative Solutions and Support Stock Up 5.1%

Shares of ISSC opened at $14.23 on Friday. The firm has a market capitalization of $250.85 million, a P/E ratio of 21.56 and a beta of 0.97. Innovative Solutions and Support has a 12-month low of $5.30 and a 12-month high of $20.00. The company has a current ratio of 3.53, a quick ratio of 2.66 and a debt-to-equity ratio of 0.41. The firm has a fifty day moving average price of $14.77 and a 200-day moving average price of $10.36.

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) last issued its earnings results on Thursday, August 14th. The aerospace company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.02). Innovative Solutions and Support had a net margin of 15.10% and a return on equity of 23.86%. The company had revenue of $24.15 million for the quarter, compared to analysts' expectations of $19.20 million.

Insider Buying and Selling

In related news, major shareholder Christopher Harborne sold 145,009 shares of the company's stock in a transaction that occurred on 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 owned 1,583,411 shares in the company, valued at $21,676,896.59. This represents a 8.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 713,234 shares of company stock valued at $9,102,691 in the last 90 days. 4.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Innovative Solutions and Support

Several hedge funds have recently bought and sold shares of the stock. Man Group plc boosted its position in Innovative Solutions and Support by 6.3% in the 2nd quarter. Man Group plc now owns 162,936 shares of the aerospace company's stock worth $2,262,000 after purchasing an additional 9,595 shares in the last quarter. Lazard Asset Management LLC boosted its position in Innovative Solutions and Support by 4,447.2% in the 2nd quarter. Lazard Asset Management LLC now owns 43,426 shares of the aerospace company's stock worth $602,000 after purchasing an additional 42,471 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Innovative Solutions and Support during the 2nd quarter valued at approximately $352,000. Ameriprise Financial Inc. purchased a new position in shares of Innovative Solutions and Support during the 2nd quarter valued at approximately $237,000. Finally, Raymond James Financial Inc. lifted its position in shares of 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 buying an additional 83,894 shares in the last quarter. Hedge funds and other institutional investors own 28.53% of the company's stock.

About Innovative Solutions and Support

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.

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