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LMI Aerospace (LMIA) Slumps: Stock Tanks 9.8% in Session

Zacks Equity Research

LMI Aerospace Inc. (LMIA) saw a big move last session, as the company’s shares fell nearly 10% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the most recent downtrend for LMIA, as the stock is now down over 13% since Mar 13.
This company in Aerospace/Defense Equipment space has seen a flat track record when it comes to current year estimate revisions over the past few weeks as there were no revisions on either side.  The consensus for earnings hasn’t been in trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump. 
LMIA currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.0%.
Investors interested in the Aerospace/Defense Equipment industry may consider better-ranked stocks like Alliant Techsystems Inc. (ATK), Astronics Corporation (ATRO) and BAE Systems plc (BAESY). All these stocks carry a Zacks Rank #1 (Strong Buy).
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