Astronics (NASDAQ:ATRO) Upgraded to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Astronics (NASDAQ:ATRO) from a buy rating to a strong-buy rating in a research report released on Sunday morning.

A number of other research firms have also recently weighed in on ATRO. TD Cowen increased their price objective on shares of Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a report on Thursday, May 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a research note on Friday, July 17th. Truist Financial upgraded shares of Astronics to a “strong-buy” rating in a research note on Monday, May 4th. Finally, Zacks Research raised Astronics from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. Three analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $74.17.

Astronics Price Performance

NASDAQ:ATRO opened at $93.45 on Friday. The firm has a market capitalization of $4.02 billion, a PE ratio of 54.97 and a beta of 1.15. The stock has a 50 day moving average of $75.29 and a 200-day moving average of $67.36. Astronics has a 52 week low of $27.39 and a 52 week high of $94.46. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 1.57.

Astronics (NASDAQ:ATRO) last issued its earnings results on Tuesday, August 11th. The aerospace company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.11. The firm had revenue of $259.96 million for the quarter, compared to analyst estimates of $245.30 million. Astronics had a return on equity of 67.69% and a net margin of 8.40%.Astronics’s quarterly revenue was up 46.9% compared to the same quarter last year. Analysts predict that Astronics will post 2.55 EPS for the current year.

Institutional Investors Weigh In On Astronics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its position in shares of Astronics by 389.6% during the 3rd quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 448 shares in the last quarter. Allworth Financial LP lifted its position in shares of Astronics by 57.1% during the 4th quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 192 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Astronics by 147.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock valued at $30,000 after acquiring an additional 533 shares during the last quarter. Quarry LP boosted its stake in shares of Astronics by 33.6% during the 4th quarter. Quarry LP now owns 568 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 143 shares in the last quarter. Finally, Leonteq Securities AG acquired a new position in shares of Astronics in the 4th quarter worth $33,000. Institutional investors own 56.68% of the company’s stock.

Astronics Company 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.