Astronics Corporation (NASDAQ:ATRO) Receives Average Rating of “Moderate Buy” from Analysts

Astronics Corporation (NASDAQ:ATRO) has been given a consensus rating of “Moderate Buy” by the six brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $74.1667.

A number of analysts have recently issued reports on ATRO shares. Zacks Research lowered Astronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a research report on Monday, April 20th. Truist Financial upgraded Astronics to a “strong-buy” rating in a research report on Monday, May 4th. Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Finally, TD Cowen lifted their price objective on Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a research report on Thursday, May 28th.

Hedge Funds Weigh In On Astronics

Institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its position in Astronics by 57.1% during the fourth quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock worth $29,000 after buying an additional 192 shares in the last quarter. Fifth Third Bancorp lifted its position in Astronics by 877.2% during the first quarter. Fifth Third Bancorp now owns 557 shares of the aerospace company’s stock worth $37,000 after buying an additional 500 shares in the last quarter. Optiver Holding B.V. lifted its position in Astronics by 3,921.4% during the first quarter. Optiver Holding B.V. now owns 563 shares of the aerospace company’s stock worth $38,000 after buying an additional 549 shares in the last quarter. IFP Advisors Inc lifted its position in Astronics by 389.6% during the third quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock worth $26,000 after buying an additional 448 shares in the last quarter. Finally, Quarry LP lifted its position in Astronics by 33.6% during the fourth quarter. Quarry LP now owns 568 shares of the aerospace company’s stock worth $31,000 after buying an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Astronics Stock Performance

Shares of NASDAQ:ATRO opened at $80.56 on Friday. The company has a debt-to-equity ratio of 2.07, a current ratio of 2.97 and a quick ratio of 1.63. The business’s 50 day moving average price is $67.52 and its 200-day moving average price is $60.21. The firm has a market capitalization of $3.46 billion, a PE ratio of 81.93 and a beta of 1.15. Astronics has a 1 year low of $22.73 and a 1 year high of $83.78.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings results on Tuesday, May 12th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The firm had revenue of $230.62 million for the quarter, compared to analyst estimates of $225.52 million. Astronics had a return on equity of 49.34% and a net margin of 5.12%.The business’s revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.37 earnings per share. As a group, equities research analysts expect that Astronics will post 2.23 earnings per share for the current fiscal year.

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.