Truist Financial Cuts Astronics (NASDAQ:ATRO) Price Target to $17.00

Astronics (NASDAQ:ATRO) had its target price reduced by Truist Financial from $20.00 to $17.00 in a research report report published on Tuesday morning,Benzinga reports. Truist Financial currently has a hold rating on the aerospace company’s stock.

Astronics Stock Performance

Shares of Astronics stock opened at $16.72 on Tuesday. The business’s fifty day simple moving average is $16.32 and its 200 day simple moving average is $18.75. The company has a current ratio of 2.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.72. Astronics has a 12 month low of $14.13 and a 12 month high of $23.74. The firm has a market capitalization of $589.55 million, a P/E ratio of -88.00 and a beta of 1.79.

Hedge Funds Weigh In On Astronics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC bought a new stake in Astronics in the second quarter worth about $857,000. Barclays PLC raised its holdings in shares of Astronics by 328.2% in the 3rd quarter. Barclays PLC now owns 45,313 shares of the aerospace company’s stock worth $883,000 after purchasing an additional 34,730 shares during the period. Algert Global LLC lifted its stake in Astronics by 367.2% in the third quarter. Algert Global LLC now owns 56,072 shares of the aerospace company’s stock valued at $1,092,000 after purchasing an additional 44,070 shares during the last quarter. Black Swift Group LLC bought a new position in Astronics during the third quarter valued at $756,000. Finally, Stifel Financial Corp purchased a new stake in Astronics in the third quarter worth $212,000. 56.68% of the stock is owned by hedge funds and other institutional investors.

About Astronics

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.