Astronics (NASDAQ:ATRO) Raised to “Strong-Buy” at Wall Street Zen

Astronics (NASDAQ:ATRO) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Monday.

Several other equities analysts have also commented on ATRO. Craig Hallum assumed coverage on Astronics in a research report on Friday, October 10th. They set a “buy” rating and a $60.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research note on Wednesday, October 8th. Zacks Research raised shares of Astronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Finally, Truist Financial upped their price objective on shares of Astronics from $49.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Astronics presently has an average rating of “Moderate Buy” and an average target price of $59.00.

Astronics Stock Performance

Astronics stock opened at $51.07 on Monday. Astronics has a fifty-two week low of $14.13 and a fifty-two week high of $53.42. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.63 and a current ratio of 3.04. The stock has a market cap of $1.82 billion, a P/E ratio of -425.55 and a beta of 1.63. The firm’s fifty day moving average price is $47.33 and its 200-day moving average price is $38.75.

Astronics (NASDAQ:ATRO) last announced its earnings results on Tuesday, November 4th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.07. Astronics had a negative net margin of 0.45% and a positive return on equity of 22.89%. The company had revenue of $211.45 million during the quarter, compared to analyst estimates of $210.80 million. Astronics has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Astronics will post 0.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider James Mulato sold 1,129 shares of the 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 completion of the sale, the insider owned 1,066 shares of the company’s stock, valued at approximately $40,678.56. This represents a 51.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 9.39% of the company’s stock.

Institutional Investors Weigh In On Astronics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital International Investors bought a new stake in Astronics in the 3rd quarter worth $64,173,000. Luxor Capital Group LP purchased a new stake in shares of Astronics during the third quarter worth about $52,698,000. Earnest Partners LLC bought a new stake in shares of Astronics in the first quarter worth about $12,774,000. Hennessy Advisors Inc. bought a new stake in shares of Astronics in the second quarter worth about $15,046,000. Finally, Millennium Management LLC increased its holdings in Astronics by 80.1% during the 1st quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock valued at $18,054,000 after purchasing an additional 332,133 shares during the period. 56.68% of the stock is currently owned by 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.