Astronics (NASDAQ:ATRO) Lowered to “Buy” Rating by Wall Street Zen

Wall Street Zen lowered shares of Astronics (NASDAQ:ATRO) from a strong-buy rating to a buy rating in a report published on Saturday morning.

Several other analysts have also recently weighed in on the stock. CJS Securities raised shares of Astronics to a “strong-buy” rating in a research note on Thursday, December 11th. Zacks Research upgraded Astronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Truist Financial set a $75.00 price objective on Astronics in a research report on Friday, January 9th. TD Cowen began coverage on Astronics in a research note on Wednesday, November 26th. They issued a “buy” rating on the stock. Finally, Craig Hallum restated a “buy” rating on shares of Astronics in a research note on Friday, January 9th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $66.67.

Astronics Trading Up 4.3%

Shares of ATRO opened at $76.58 on Friday. The company has a current ratio of 2.87, a quick ratio of 1.56 and a debt-to-equity ratio of 3.07. The stock has a market cap of $2.73 billion, a PE ratio of -850.79 and a beta of 1.10. Astronics has a 1 year low of $18.28 and a 1 year high of $81.89. The stock has a 50 day simple moving average of $62.96 and a 200-day simple moving average of $49.77.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Capital International Investors acquired a new stake in shares of Astronics during the 3rd quarter worth approximately $64,173,000. Luxor Capital Group LP acquired a new stake in Astronics during the 3rd quarter worth $52,698,000. Millennium Management LLC raised its position in shares of Astronics by 80.1% during the 1st quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock valued at $18,054,000 after acquiring an additional 332,133 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Astronics by 659.8% in the 2nd quarter. American Century Companies Inc. now owns 339,947 shares of the aerospace company’s stock valued at $11,381,000 after purchasing an additional 295,208 shares during the period. Finally, SG Capital Management LLC bought a new position in shares of Astronics in the 3rd quarter worth $11,617,000. 56.68% of the stock is currently owned by institutional investors and hedge funds.

About Astronics

Astronics Corporation (NASDAQ: ATRO) is a global leader in the design and manufacture of advanced technologies primarily for the aerospace, defense and semiconductor industries. Headquartered in East Aurora, New York, the company was founded in 1968 and has grown through a combination of internal development and strategic acquisitions. Astronics operates multiple business units focused on power conversion, distribution and control; cabin electronics and connectivity; aircraft lighting and safety solutions; and automated test systems.

The company’s aerospace products include onboard power generation and management systems, in-flight entertainment and connectivity hardware, LED and fluorescent lighting for aircraft cabins and cockpits, and safety equipment such as escape slide power units.