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.

Wall Street Zen cut shares of Innovative Solutions and Support (NASDAQ:ISSC - Free Report) from a buy rating to a hold rating in a research note released on Sunday morning.

Separately, Singular Research raised Innovative Solutions and Support to a "strong-buy" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the stock has a consensus rating of "Strong Buy".

Innovative Solutions and Support Price Performance

ISSC stock traded down $0.47 during midday trading on Friday, hitting $12.95. 710,165 shares of the stock were exchanged, compared to its average volume of 967,309. The stock's 50-day moving average price is $14.85 and its 200-day moving average price is $10.45. The stock has a market cap of $228.31 million, a price-to-earnings ratio of 19.62 and a beta of 0.97. Innovative Solutions and Support has a fifty-two week low of $5.30 and a fifty-two week high of $20.00. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.69 and a current ratio of 3.53.

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

Insider Buying and Selling

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

Hedge Funds Weigh In On Innovative Solutions and Support

Several hedge funds have recently modified their holdings of ISSC. Marshall Wace LLP bought a new stake in shares of Innovative Solutions and Support during the 4th quarter worth $1,283,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of 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 worth $2,183,000 after acquiring an additional 126,729 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Innovative Solutions and Support by 155.3% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 145,389 shares of the aerospace company's stock worth $2,018,000 after acquiring an additional 88,442 shares in the last quarter. Punch & Associates Investment Management Inc. boosted its stake in shares of Innovative Solutions and Support by 68.0% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 210,000 shares of the aerospace company's stock worth $1,321,000 after acquiring an additional 85,000 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its stake 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 worth $2,283,000 after acquiring an additional 83,894 shares in the last quarter. 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, 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.