Astronics (NASDAQ:ATRO) Stock Rating Lowered by Wall Street Zen

Astronics (NASDAQ:ATRO) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

A number of other brokerages have also recently commented on ATRO. Truist Financial raised shares of Astronics to a “strong-buy” rating in a report on Monday, May 4th. Zacks Research raised shares of Astronics from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research note on Friday, July 17th. Finally, TD Cowen raised their target price on Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a report on Thursday, May 28th. Three investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Astronics presently has a consensus rating of “Buy” and an average target price of $74.17.

Astronics Stock Performance

NASDAQ:ATRO opened at $77.75 on Friday. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 2.07. Astronics has a 12 month low of $24.77 and a 12 month high of $88.72. The company has a market cap of $3.34 billion, a PE ratio of 79.07 and a beta of 1.15. The company has a 50 day simple moving average of $73.91 and a two-hundred day simple moving average of $66.61.

Astronics (NASDAQ:ATRO) last released its quarterly earnings results on Tuesday, May 12th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Astronics had a return on equity of 49.34% and a net margin of 5.12%.The firm had revenue of $230.62 million for the quarter, compared to the consensus estimate of $225.52 million. During the same period last year, the business posted $0.37 EPS. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. Research analysts forecast that Astronics will post 2.62 earnings per share for the current year.

Hedge Funds Weigh In On Astronics

A number of hedge funds have recently modified their holdings of ATRO. Quarry LP grew its position in shares of Astronics by 33.6% in the 4th quarter. Quarry LP now owns 568 shares of the aerospace company’s stock worth $31,000 after buying an additional 143 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Astronics by 19.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,137 shares of the aerospace company’s stock valued at $62,000 after acquiring an additional 188 shares during the last quarter. Allworth Financial LP boosted its stake in Astronics by 57.1% in the fourth quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 192 shares in the last quarter. US Bancorp DE grew its holdings in Astronics by 41.0% in the third quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock worth $44,000 after purchasing an additional 281 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. grew its holdings in Astronics by 24.5% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 1,525 shares of the aerospace company’s stock worth $83,000 after purchasing an additional 300 shares during the last quarter. 56.68% of the stock is currently owned by institutional investors.

Astronics Company Profile

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.