AIR INDUSTRIES GROUP
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Report Link: Updated Research Report (Dated 11/14/2019)
Analyst: John Nobile
Taglich Rating: Speculative Buy
Price Target: $2.50
Time Horizon: 12 Months
Rating Established: July 28, 2017
Price When Established: $1.38
Most Recent Report: November 14, 2019
Price When Issued: $1.23
Air Industries Announces Long-Term Contracts Totaling Over $18.2 Million
On December 4, 2019, Air Industries Group (NYSE AMEX: AIRI) announced it received new contract awards totaling $18.2 million and potential follow-on orders for an additional $13.7 million.
Air Industries Machining Corporation, a unit of the company’s Complex Machining Sector, received firm orders totaling approximately $11.9 million. The company has also been awarded exclusivity for an additional three years (2023 to 2025), covering additional product that may be ordered by AIRI’s customer, worth an estimated $13.7 million.
Sterling Engineering Corporation, AIRI’s Turbine & Engine Sector, received firm orders during October and November totaling $6.3 million which extend to 2023.
With these orders, the company’s eighteen-month firm and funded backlog increased to approximately $110 million dollars.
Air Industries Group, headquartered in Bay Shore, New York, operates primarily in the aerospace and defense industry. The company designs and manufactures structural parts and assemblies, including landing gear, arresting gear, engine mounts, flight controls, throttle quadrants, components for jet engines, and other aerospace components.
Company ReportsUpdated Research Report (Dated November 14, 2019)
Updated Research Report (Dated August 19, 2019)
Updated Research Report (Dated May 30, 2019)
Updated Research Report (Dated April 10, 2019)
Updated Research Report (Dated December 14, 2018)
Updated Research Report (Dated June 27, 2018)
Updated Research Report (Dated February 13, 2018)
Research Note Released (Dated July 28, 2017)
Updated Research Report (Dated September 30, 2016)
Updated Research Report (Dated December 15, 2015)
Updated Research Report (Dated October 1, 2015)
Updated Research Report (Dated April 17, 2015)
Updated Research Report (Dated December 9, 2014)
Updated Research Report (Dated August 21, 2014)
Updated Research Report (Dated June 20, 2014)
Initial Research Report (Dated December 18, 2013)
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