Astronics Corporation (NASDAQ:ATRO) Given Consensus Rating of “Buy” by Analysts

Astronics Corporation (NASDAQ:ATRO) has been assigned an average rating of “Buy” from the six analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a buy rating and three have given a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $74.1667.

ATRO has been the topic of a number of recent research reports. Wall Street Zen cut Astronics from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a research note on Friday, July 17th. Zacks Research upgraded Astronics from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. TD Cowen raised their price target on Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Finally, Truist Financial raised Astronics to a “strong-buy” rating in a research note on Monday, May 4th.

Astronics Stock Performance

Shares of ATRO opened at $77.75 on Monday. Astronics has a fifty-two week low of $24.77 and a fifty-two week high of $88.72. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of 79.07 and a beta of 1.15. The firm has a 50 day moving average price of $73.91 and a 200-day moving average price of $66.61. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.63 and a current ratio of 2.97.

Astronics (NASDAQ:ATRO) last released its 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. The company had revenue of $230.62 million for the quarter, compared to analyst estimates of $225.52 million. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.37 EPS. As a group, equities research analysts forecast that Astronics will post 2.62 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ATRO. AQR Capital Management LLC raised its holdings in Astronics by 20.4% during the 1st quarter. AQR Capital Management LLC now owns 112,210 shares of the aerospace company’s stock valued at $2,712,000 after buying an additional 18,975 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Astronics by 6.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,491 shares of the aerospace company’s stock worth $423,000 after acquiring an additional 1,069 shares during the last quarter. Millennium Management LLC increased its position in shares of Astronics by 80.1% in the first 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 period. Goldman Sachs Group Inc. increased its position in shares of Astronics by 26.1% in the first quarter. Goldman Sachs Group Inc. now owns 222,486 shares of the aerospace company’s stock valued at $5,377,000 after acquiring an additional 46,054 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Astronics by 22.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,791 shares of the aerospace company’s stock valued at $1,735,000 after acquiring an additional 13,104 shares during the last quarter. Institutional investors own 56.68% of the company’s stock.

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.