SunTrust Banks Reiterates “Hold” Rating for Astronics (ATRO)

SunTrust Banks reaffirmed their hold rating on shares of Astronics (NASDAQ:ATRO) in a research report sent to investors on Tuesday, January 9th. They currently have a $44.00 price objective on the aerospace company’s stock. SunTrust Banks also issued estimates for Astronics’ FY2018 earnings at $2.22 EPS and FY2019 earnings at $2.43 EPS.

Other equities analysts have also issued research reports about the stock. Canaccord Genuity reiterated a buy rating and issued a $40.00 target price on shares of Astronics in a research report on Tuesday, November 7th. Dougherty & Co increased their target price on shares of Astronics from $40.00 to $45.00 and gave the company a buy rating in a research report on Monday, December 4th. BidaskClub upgraded shares of Astronics from a buy rating to a strong-buy rating in a research report on Friday, December 22nd. Finally, Zacks Investment Research upgraded shares of Astronics from a hold rating to a buy rating and set a $46.00 price objective for the company in a research report on Tuesday, January 2nd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Astronics currently has an average rating of Buy and a consensus price target of $45.25.

Astronics (ATRO) opened at $47.35 on Tuesday. Astronics has a 12-month low of $23.95 and a 12-month high of $48.50. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.57 and a current ratio of 3.07. The company has a market cap of $1,325.85, a price-to-earnings ratio of 40.13, a PEG ratio of 2.30 and a beta of 1.10.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings results on Tuesday, November 7th. The aerospace company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.14). The company had revenue of $149.64 million during the quarter, compared to analyst estimates of $154.90 million. Astronics had a net margin of 5.80% and a return on equity of 10.29%. The company’s revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 earnings per share. research analysts anticipate that Astronics will post 1.29 EPS for the current year.

Astronics announced that its board has initiated a share repurchase program on Monday, December 18th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

In related news, Director Robert J. Mckenna sold 45,000 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $39.00, for a total value of $1,755,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 16.45% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc lifted its position in Astronics by 10.7% in the second quarter. Legal & General Group Plc now owns 5,630 shares of the aerospace company’s stock worth $172,000 after purchasing an additional 546 shares during the period. Connors Investor Services Inc. raised its stake in shares of Astronics by 1.8% during the 2nd quarter. Connors Investor Services Inc. now owns 58,465 shares of the aerospace company’s stock worth $1,781,000 after purchasing an additional 1,045 shares in the last quarter. Voya Investment Management LLC raised its stake in shares of Astronics by 11.2% during the 2nd quarter. Voya Investment Management LLC now owns 10,719 shares of the aerospace company’s stock worth $327,000 after purchasing an additional 1,078 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Astronics by 26.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,999 shares of the aerospace company’s stock worth $183,000 after purchasing an additional 1,254 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Astronics by 5.3% during the 3rd quarter. Rhumbline Advisers now owns 28,194 shares of the aerospace company’s stock worth $839,000 after purchasing an additional 1,426 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

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Astronics Company Profile

Astronics Corporation is a supplier of products to the aerospace, defense, electronics and semiconductor industries. The Company’s products and services include electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems.

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