Astronics (NASDAQ:ATRO) Rating Increased to Strong-Buy at Zacks Research

Astronics (NASDAQ:ATRO) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other brokerages also recently issued reports on ATRO. Truist Financial upgraded Astronics to a “strong-buy” rating in a research report on Monday, May 4th. TD Cowen raised their price objective on shares of Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 21st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research report on Friday. Three investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Astronics has a consensus rating of “Buy” and an average target price of $74.17.

Astronics Stock Performance

Shares of NASDAQ:ATRO opened at $69.00 on Monday. The firm has a fifty day simple moving average of $73.16 and a two-hundred day simple moving average of $65.03. Astronics has a 52 week low of $22.73 and a 52 week high of $88.72. The company has a quick ratio of 1.63, a current ratio of 2.97 and a debt-to-equity ratio of 2.07. The stock has a market capitalization of $2.97 billion, a P/E ratio of 70.17 and a beta of 1.13.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings results on Tuesday, May 12th. The aerospace company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. The firm had revenue of $230.62 million during the quarter, compared to the consensus estimate of $225.52 million. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.37 EPS. On average, analysts expect that Astronics will post 2.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Astronics

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Astronics by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 1,975,693 shares of the aerospace company’s stock worth $107,162,000 after acquiring an additional 39,527 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Astronics in the 4th quarter worth approximately $2,279,000. Emerald Advisers LLC raised its stake in shares of Astronics by 85.0% during the 1st quarter. Emerald Advisers LLC now owns 449,126 shares of the aerospace company’s stock worth $29,970,000 after acquiring an additional 206,399 shares in the last quarter. Calamos Advisors LLC purchased a new stake in Astronics during the fourth quarter valued at approximately $1,070,000. Finally, Emerald Mutual Fund Advisers Trust boosted its stake in Astronics by 78.1% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 279,159 shares of the aerospace company’s stock valued at $18,628,000 after acquiring an additional 122,440 shares in the last quarter. Institutional investors own 56.68% of the company’s stock.

About Astronics

Astronics Corporation (NASDAQ: ATRO) is a global leader in the design and manufacture of advanced technologies primarily for the aerospace, defense and semiconductor industries. Headquartered in East Aurora, New York, the company was founded in 1968 and has grown through a combination of internal development and strategic acquisitions. Astronics operates multiple business units focused on power conversion, distribution and control; cabin electronics and connectivity; aircraft lighting and safety solutions; and automated test systems.

The company’s aerospace products include onboard power generation and management systems, in-flight entertainment and connectivity hardware, LED and fluorescent lighting for aircraft cabins and cockpits, and safety equipment such as escape slide power units.