Astronics (NASDAQ:ATRO) Given New $58.00 Price Target at Truist Financial

Astronics (NASDAQ:ATRO) had its price objective increased by Truist Financial from $49.00 to $58.00 in a report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the aerospace company’s stock.

Other equities research analysts have also issued reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a research report on Wednesday, October 8th. Craig Hallum began coverage on Astronics in a research report on Friday, October 10th. They issued a “buy” rating and a $60.00 price objective on the stock. Wall Street Zen lowered Astronics from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Zacks Research lowered Astronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $59.00.

Astronics Price Performance

Shares of ATRO stock opened at $49.04 on Wednesday. The firm has a market cap of $1.74 billion, a P/E ratio of -408.63 and a beta of 1.68. Astronics has a fifty-two week low of $14.13 and a fifty-two week high of $49.96. The business’s 50 day moving average price is $40.05 and its 200-day moving average price is $33.24. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.63 and a current ratio of 3.04.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings data on Wednesday, August 6th. The aerospace company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. The firm had revenue of $204.68 million for the quarter, compared to analyst estimates of $208.29 million. Astronics had a positive return on equity of 22.89% and a negative net margin of 0.45%. On average, equities research analysts anticipate that Astronics will post 0.82 earnings per share for the current year.

Insider Buying and Selling at Astronics

In related news, insider James Mulato sold 1,129 shares of Astronics stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $38.16, for a total transaction of $43,082.64. Following the sale, the insider directly owned 1,066 shares in the company, valued at $40,678.56. The trade was a 51.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.39% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Astronics

Hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its holdings in Astronics by 147.6% in the second quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock worth $30,000 after acquiring an additional 533 shares in the last quarter. Signaturefd LLC boosted its holdings in Astronics by 88.5% in the first quarter. Signaturefd LLC now owns 1,446 shares of the aerospace company’s stock worth $35,000 after acquiring an additional 679 shares in the last quarter. Penserra Capital Management LLC bought a new stake in Astronics in the second quarter worth $66,000. Osaic Holdings Inc. boosted its holdings in Astronics by 30.0% in the second quarter. Osaic Holdings Inc. now owns 2,294 shares of the aerospace company’s stock worth $77,000 after acquiring an additional 529 shares in the last quarter. Finally, CWM LLC boosted its holdings in Astronics by 192.2% in the first quarter. CWM LLC now owns 2,592 shares of the aerospace company’s stock worth $63,000 after acquiring an additional 1,705 shares in the last quarter. 56.68% of the stock is owned by institutional investors.

Astronics Company Profile

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.