Astronics (NASDAQ:ATRO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Astronics (NASDAQ:ATRO) from a hold rating to a buy rating in a research note issued to investors on Saturday.

A number of other equities analysts have also recently issued reports on ATRO. Craig Hallum assumed coverage on Astronics in a report on Friday, October 10th. They set a “buy” rating and a $60.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a report on Wednesday, October 8th. Truist Financial increased their price target on Astronics from $49.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Finally, Zacks Research cut Astronics from a “strong-buy” rating to a “hold” rating in a 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $59.00.

Astronics Price Performance

Astronics stock opened at $48.25 on Friday. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of -402.05 and a beta of 1.68. Astronics has a 52-week low of $14.13 and a 52-week high of $49.96. The stock’s 50 day moving average price is $41.05 and its two-hundred day moving average price is $33.87. 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 posted its quarterly earnings results on Wednesday, August 6th. The aerospace company reported $0.38 earnings per share (EPS) 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 analysts’ expectations 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 analysts predict that Astronics will post 0.82 earnings per share for the current year.

Insider Buying and Selling at Astronics

In other news, insider James Mulato sold 1,129 shares of the company’s 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 transaction, the insider directly owned 1,066 shares of the company’s stock, valued at $40,678.56. This represents a 51.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 10.83% of the stock is owned by insiders.

Institutional Investors Weigh In On Astronics

Institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its position in Astronics by 147.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock valued at $30,000 after buying an additional 533 shares during the last quarter. Signaturefd LLC raised its position in Astronics by 88.5% in the 1st quarter. Signaturefd LLC now owns 1,446 shares of the aerospace company’s stock valued at $35,000 after buying an additional 679 shares during the last quarter. CWM LLC raised its position in Astronics by 192.2% in the 1st quarter. CWM LLC now owns 2,592 shares of the aerospace company’s stock valued at $63,000 after buying an additional 1,705 shares during the last quarter. Tripletail Wealth Management LLC purchased a new stake in Astronics in the 3rd quarter valued at $64,000. Finally, Penserra Capital Management LLC purchased a new stake in Astronics in the 2nd quarter valued at $66,000. 56.68% of the stock is owned by hedge funds and other 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.