Innovative Solutions and Support (NASDAQ:ISSC) Upgraded at Wall Street Zen

Key Points

• Innovative Solutions and Support (NASDAQ:ISSC) has been upgraded from a "hold" to a "buy" rating by analysts at Wall Street Zen.
• The company reported earnings of $0.14 per share for the last quarter, falling short of the consensus estimate of $0.16, while revenues exceeded expectations at $24.15 million.
• Insider transactions revealed major shareholder Christopher Harborne sold 145,009 shares at an average price of $13.69, decreasing his ownership by 8.39%.

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Friday.

Innovative Solutions and Support Trading Down 0.1%

Shares of NASDAQ:ISSC traded down $0.01 on Friday, hitting $11.85. 192,488 shares of the company's stock were exchanged, compared to its average volume of 442,492. Innovative Solutions and Support has a 12 month low of $5.30 and a 12 month high of $20.00. The stock has a market capitalization of $208.89 million, a price-to-earnings ratio of 17.95 and a beta of 0.80. The business's 50 day simple moving average is $13.88 and its two-hundred day simple moving average is $10.99. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.53 and a quick ratio of 1.69.

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) last released its earnings results on Thursday, August 14th. The aerospace company reported $0.14 earnings per share 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 business had revenue of $24.15 million for the quarter, compared to the consensus estimate of $19.20 million.

Insider Buying and Selling at Innovative Solutions and Support

In related news, major shareholder Christopher Harborne sold 145,009 shares of Innovative Solutions and Support 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 completion of the sale, the insider directly owned 1,583,411 shares in the company, valued at $21,676,896.59. The trade was a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Innovative Solutions and Support

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Man Group plc grew its stake in shares of Innovative Solutions and Support by 6.3% during the second quarter. Man Group plc now owns 162,936 shares of the aerospace company's stock worth $2,262,000 after acquiring an additional 9,595 shares during the last quarter. Lazard Asset Management LLC boosted its position in Innovative Solutions and Support by 4,447.2% in the second quarter. Lazard Asset Management LLC now owns 43,426 shares of the aerospace company's stock valued at $602,000 after buying an additional 42,471 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in Innovative Solutions and Support in the second quarter valued at approximately $352,000. Ameriprise Financial Inc. purchased a new stake in Innovative Solutions and Support in the second quarter valued at approximately $237,000. Finally, Raymond James Financial Inc. boosted its position in Innovative Solutions and Support by 104.1% in the second 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 during 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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