Truist Financial Lowers Astronics (NASDAQ:ATRO) Price Target to $20.00

Astronics (NASDAQ:ATRO) had its price objective lowered by investment analysts at Truist Financial from $22.00 to $20.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “hold” rating on the aerospace company’s stock. Truist Financial’s price target would suggest a potential downside of 4.94% from the stock’s previous close.

Astronics Trading Up 2.7 %

ATRO opened at $21.04 on Friday. Astronics has a one year low of $14.11 and a one year high of $23.74. The company has a market cap of $733.08 million, a P/E ratio of -27.32 and a beta of 1.82. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.50 and a current ratio of 2.92. The business’s 50-day simple moving average is $19.97 and its 200-day simple moving average is $19.58.

Astronics (NASDAQ:ATRO) last released its quarterly earnings data on Thursday, August 1st. The aerospace company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.13). Astronics had a negative net margin of 1.57% and a negative return on equity of 0.31%. The business had revenue of $198.11 million during the quarter, compared to analysts’ expectations of $191.19 million. During the same quarter in the previous year, the company posted ($0.37) EPS. As a group, equities research analysts expect that Astronics will post 0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its stake in Astronics by 115.4% during the 3rd quarter. SG Americas Securities LLC now owns 11,387 shares of the aerospace company’s stock worth $222,000 after buying an additional 6,101 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Astronics during the 2nd quarter worth approximately $25,000. Algert Global LLC purchased a new position in Astronics during the 2nd quarter worth approximately $240,000. The Manufacturers Life Insurance Company grew its stake in Astronics by 10.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,195 shares of the aerospace company’s stock worth $224,000 after buying an additional 1,094 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in Astronics by 11.1% during the 2nd quarter. AQR Capital Management LLC now owns 37,793 shares of the aerospace company’s stock worth $757,000 after buying an additional 3,786 shares during the last quarter. Hedge funds and other institutional investors own 56.68% of the company’s stock.

About Astronics

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.