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Market Data: Yahoo Finance, Bloomberg, SEC Filings

Report Link: Updated Research Report (Dated 12/14/2018)

Symbol: AIRI
Analyst: John Nobile
Taglich Rating: Speculative Buy
Price Target: $2.00
Time Horizon: 12 Months
Rating Established: July 28, 2017
Price When Established: $1.38
Most Recent Report: December 14, 2018
Price When Issued: $0.91

What's New

Air Industries Announces Major Awards Totaling Nearly $13 Million

On February 25, 2019, Air Industries Group (NYSE AMEX: AIRI) announced it received major awards for its Complex Machining and Turbine Engine Components business segments.

Air Industries’ Complex Machining Segment received two awards totaling an estimated $5 million. The first $2 million is for arresting gear assemblies and related parts, and the second $3 million is for landing gear used both in new production and spares for the US Navy E-2C/D Hawkeye aircraft. Deliveries are expected to begin in the second half of 2019 and be completed within 18 to 24 months.

Air Industries’ Turbine Engine Component segment received an award estimated at $7.2 million for components for the Pratt & Whitney PW 4000 engine, which is used in many different commercial aircraft. Deliveries are expected to begin in 2019 and continue over a ten-year period. In addition Sterling Engineering (Turbine Engine Component segment) received a $500,000 order for components used in the jet engine installed on the F-18E/F Super Hornet fighter aircraft.

Air Industries Completes Sale of Welding Metallurgy

On December 20, 2018, Air Industries Group (NYSE AMEX: AIRI) announced it has completed the sale of its Welding Metallurgy subsidiary to CPI Aerostructures, Inc. for approximately $9 million. The sale has reduced bank debt by roughly twenty five percent. In the coming months, Air Industries plans to consolidate its corporate office into its Bay Shore facility to further reduce overhead.

Company Description

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 and other components. Air Industries also provides sheet metal fabrication of aerostructures, tube bending and welding services.

Company Reports

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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