Astronics Corporation $ATRO Shares Acquired by Emerald Advisers LLC

Emerald Advisers LLC lifted its stake in shares of Astronics Corporation (NASDAQ:ATRO) by 85.0% in the first quarter, Holdings Channel reports. The firm owned 449,126 shares of the aerospace company’s stock after buying an additional 206,399 shares during the period. Emerald Advisers LLC’s holdings in Astronics were worth $29,970,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Astronics by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 1,975,693 shares of the aerospace company’s stock worth $107,162,000 after buying an additional 39,527 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Astronics during the 4th quarter worth approximately $2,279,000. Luxor Capital Group LP acquired a new position in shares of Astronics during the third quarter valued at approximately $52,698,000. Linden Advisors LP acquired a new position in shares of Astronics during the third quarter valued at approximately $992,000. Finally, Calamos Advisors LLC purchased a new position in shares of Astronics in the fourth quarter valued at approximately $1,070,000. Institutional investors and hedge funds own 56.68% of the company’s stock.

Analyst Upgrades and Downgrades

ATRO has been the topic of a number of research analyst reports. Zacks Research lowered Astronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. TD Cowen increased their price objective on Astronics from $70.83 to $83.33 and gave the company a “buy” rating in a research note on Thursday, May 28th. Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 21st. Truist Financial raised shares of Astronics to a “strong-buy” rating in a research note on Monday, May 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a report on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $74.17.

Astronics Trading Down 0.6%

Shares of Astronics stock opened at $72.03 on Tuesday. The stock has a market cap of $3.10 billion, a P/E ratio of 73.25 and a beta of 1.13. The stock’s 50 day simple moving average is $72.54 and its 200-day simple moving average is $64.05. Astronics Corporation has a 1-year low of $22.73 and a 1-year high of $88.72. The company has a debt-to-equity ratio of 2.07, a current ratio of 2.97 and a quick ratio of 1.63.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings results on Tuesday, May 12th. The aerospace company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03. Astronics had a return on equity of 49.34% and a net margin of 5.12%.The firm had revenue of $230.62 million during the quarter, compared to analysts’ expectations of $225.52 million. During the same quarter last year, the firm earned $0.37 earnings per share. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. Analysts predict that Astronics Corporation will post 2.38 EPS for the current fiscal year.

Astronics Profile

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.