Astronics Corporation (NASDAQ:ATRO) Stock Rated “Buy” by Sell-Side Brokerages

Astronics Corporation (NASDAQ:ATRO) has received a consensus rating of “Buy” from the six analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $74.17.

Several equities analysts recently weighed in on ATRO shares. Weiss Ratings raised Astronics from a “sell (d-)” rating to a “buy (b-)” rating in a research note on Tuesday. Zacks Research cut shares of Astronics from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 7th. Finally, Wall Street Zen upgraded shares of Astronics from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th.

Astronics Stock Up 0.1%

ATRO stock opened at $69.22 on Tuesday. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 1.57. The company’s 50-day moving average price is $74.27 and its 200 day moving average price is $69.36. Astronics has a 52 week low of $34.58 and a 52 week high of $94.46. The company has a market cap of $2.98 billion, a P/E ratio of 40.72 and a beta of 1.20.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings results on Tuesday, August 11th. The aerospace company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.11. The company had revenue of $259.96 million during the quarter, compared to the consensus estimate of $245.30 million. Astronics had a net margin of 8.40% and a return on equity of 67.69%. Astronics’s revenue was up 46.9% on a year-over-year basis. On average, research analysts expect that Astronics will post 2.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ATRO. BlackRock Inc. purchased a new stake in Astronics in the 2nd quarter valued at approximately $248,395,000. Capital International Investors increased its position in Astronics by 31.5% during the fourth quarter. Capital International Investors now owns 1,849,886 shares of the aerospace company’s stock worth $100,338,000 after buying an additional 442,886 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Astronics by 5.3% during the first quarter. Dimensional Fund Advisors LP now owns 673,760 shares of the aerospace company’s stock worth $44,951,000 after buying an additional 34,018 shares in the last quarter. Emerald Advisers LLC raised its holdings in shares of Astronics by 85.0% in the first quarter. Emerald Advisers LLC now owns 449,126 shares of the aerospace company’s stock worth $29,970,000 after acquiring an additional 206,399 shares during the last quarter. Finally, Congruence Capital LLC acquired a new position in shares of Astronics in the fourth quarter worth $19,658,000. 56.68% of the stock is owned by hedge funds and other institutional investors.

Astronics Company Profile

Astronics Corporation (NASDAQ: ATRO) designs and manufactures advanced aerospace and defense systems and equipment. Its products include aircraft lighting, electrical power and distribution systems, cabin electronics, connectivity solutions, avionics, and other specialized components used in commercial, business, general aviation, and military aircraft.

The company also provides automated test systems and related equipment used to test aerospace, defense, and other electronic systems. Its offerings support aircraft manufacturers, airlines, defense contractors, and maintenance organizations, as well as customers in the space and transportation markets.

Founded in 1968 and headquartered in East Aurora, New York, Astronics serves customers through operations and sales activities in the United States and international markets.