Astronics (NASDAQ:ATRO) Lowered to Sell at ValuEngine

Astronics (NASDAQ:ATRO) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Wednesday, ValuEngine reports.

Several other research analysts have also recently weighed in on ATRO. SunTrust Banks dropped their price target on shares of Astronics to $26.00 and set a “sell” rating on the stock in a research note on Tuesday, August 6th. TheStreet cut shares of Astronics from a “b-” rating to a “c+” rating in a research note on Monday, August 26th. BidaskClub cut shares of Astronics from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Dougherty & Co dropped their price target on shares of Astronics from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Zacks Investment Research cut shares of Astronics from a “hold” rating to a “sell” rating in a research note on Wednesday, October 16th. Four investment analysts have rated the stock with a sell rating and two have issued a buy rating to the company. Astronics has an average rating of “Hold” and a consensus price target of $37.75.

Shares of Astronics stock traded up $0.16 on Wednesday, hitting $31.07. 172,400 shares of the company’s stock were exchanged, compared to its average volume of 240,472. The company has a 50-day simple moving average of $29.81 and a 200-day simple moving average of $34.20. The stock has a market capitalization of $1.03 billion, a PE ratio of 22.04, a PEG ratio of 2.42 and a beta of 1.40. Astronics has a 1 year low of $25.85 and a 1 year high of $44.34. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.77 and a current ratio of 2.97.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings results on Monday, August 5th. The aerospace company reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.16). The business had revenue of $189.10 million for the quarter, compared to analysts’ expectations of $188.80 million. Astronics had a return on equity of 7.90% and a net margin of 12.68%. The company’s revenue was down 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.49 EPS. On average, analysts expect that Astronics will post 1.3 EPS for the current fiscal year.

In other news, CFO David C. Burney sold 4,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $26.20, for a total transaction of $104,800.00. Following the sale, the chief financial officer now directly owns 33,434 shares in the company, valued at approximately $875,970.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.80% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Rhumbline Advisers raised its position in shares of Astronics by 1.6% during the 3rd quarter. Rhumbline Advisers now owns 31,660 shares of the aerospace company’s stock valued at $930,000 after purchasing an additional 513 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Astronics by 481.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 733 shares of the aerospace company’s stock valued at $30,000 after purchasing an additional 607 shares during the period. Swiss National Bank raised its position in shares of Astronics by 1.8% during the 2nd quarter. Swiss National Bank now owns 40,255 shares of the aerospace company’s stock valued at $1,619,000 after purchasing an additional 700 shares during the period. Van Hulzen Asset Management LLC raised its position in shares of Astronics by 9.0% during the 2nd quarter. Van Hulzen Asset Management LLC now owns 11,385 shares of the aerospace company’s stock valued at $458,000 after purchasing an additional 940 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Astronics by 7.4% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 14,979 shares of the aerospace company’s stock valued at $602,000 after purchasing an additional 1,036 shares during the period. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Astronics Company Profile

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, electronics, and semiconductor industries worldwide. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems; electrical power generation, distribution, and motions systems; aircraft structures; avionics products; system certification; and connectivity and other products.

Featured Article: Diversification Important in Investing

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Astronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Astronics and related companies with MarketBeat.com's FREE daily email newsletter.