Astronics Corporation (NASDAQ:ATRO) Given Average Rating of “Moderate Buy” by Analysts

Shares of Astronics Corporation (NASDAQ:ATRO) have been assigned an average rating of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, two have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $74.1667.

A number of research firms have commented on ATRO. Zacks Research cut shares of Astronics from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a report on Friday, July 17th. TD Cowen upped their target price on shares of Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Finally, Wall Street Zen upgraded shares of Astronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th.

Astronics Price Performance

Shares of NASDAQ ATRO opened at $68.62 on Tuesday. Astronics has a twelve month low of $34.44 and a twelve month high of $94.46. The company has a quick ratio of 1.63, a current ratio of 2.97 and a debt-to-equity ratio of 1.57. The firm has a market capitalization of $2.95 billion, a P/E ratio of 40.36 and a beta of 1.20. The stock’s 50-day simple moving average is $74.27 and its two-hundred day simple moving average is $69.25.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Tuesday, August 11th. The aerospace company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.11. The company had revenue of $259.96 million for the quarter, compared to analysts’ expectations of $245.30 million. Astronics had a net margin of 8.40% and a return on equity of 67.69%. Astronics’s revenue for the quarter was up 46.9% on a year-over-year basis. As a group, equities analysts anticipate that Astronics will post 2.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Astronics

Hedge funds and other institutional investors have recently modified their holdings of the company. Emerald Advisers LLC raised its stake in shares of Astronics by 85.0% during the first 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. Nicholas Investment Partners LP bought a new stake in shares of Astronics in the 2nd quarter worth approximately $11,717,000. Bank of America Corp DE boosted its stake in shares of Astronics by 81.9% in the 1st quarter. Bank of America Corp DE now owns 199,722 shares of the aerospace company’s stock valued at $13,327,000 after purchasing an additional 89,950 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Astronics during the 2nd quarter valued at $1,457,000. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in shares of Astronics by 20.6% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 79,689 shares of the aerospace company’s stock valued at $6,476,000 after purchasing an additional 13,613 shares during the last quarter. 56.68% of the stock is currently owned by hedge funds and other institutional investors.

Astronics Company Profile

Astronics Corporation (NASDAQ: ATRO) designs and manufactures advanced aerospace and defense systems and equipment. Its products include aircraft lighting, electrical power and distribution systems, cabin electronics, connectivity solutions, avionics, and other specialized components used in commercial, business, general aviation, and military aircraft.

The company also provides automated test systems and related equipment used to test aerospace, defense, and other electronic systems. Its offerings support aircraft manufacturers, airlines, defense contractors, and maintenance organizations, as well as customers in the space and transportation markets.

Founded in 1968 and headquartered in East Aurora, New York, Astronics serves customers through operations and sales activities in the United States and international markets.