Astronics (NASDAQ:ATRO) Now Covered by TD Cowen

Equities researchers at TD Cowen assumed coverage on shares of Astronics (NASDAQ:ATRO) in a research report issued on Wednesday,Benzinga reports. The firm set a “buy” rating and a $65.00 price target on the aerospace company’s stock. TD Cowen’s price target would suggest a potential upside of 27.28% from the stock’s previous close.

Several other research firms have also issued reports on ATRO. Cowen began coverage on shares of Astronics in a research note on Wednesday. They set a “buy” rating on the stock. Zacks Research upgraded Astronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a report on Wednesday, October 8th. Truist Financial upped their target price on Astronics from $49.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Finally, Craig Hallum initiated coverage on shares of Astronics in a research note on Friday, October 10th. They issued a “buy” rating and a $60.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Astronics currently has an average rating of “Moderate Buy” and a consensus price target of $61.00.

Astronics Stock Up 1.2%

Shares of ATRO stock opened at $51.07 on Wednesday. Astronics has a twelve month low of $14.13 and a twelve month high of $53.42. The stock has a market cap of $1.82 billion, a P/E ratio of -425.55 and a beta of 1.63. The stock has a 50 day moving average of $47.33 and a 200 day moving average of $38.75. The company has a current ratio of 3.04, a quick ratio of 1.63 and a debt-to-equity ratio of 0.59.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings data on Tuesday, November 4th. The aerospace company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.07. The business had revenue of $211.45 million for the quarter, compared to analysts’ expectations of $210.80 million. Astronics had a negative net margin of 0.45% and a positive return on equity of 22.89%. Astronics has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Astronics will post 0.82 EPS for the current year.

Insider Buying and Selling

In other Astronics news, insider James Mulato sold 1,129 shares of the firm’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $38.16, for a total value of $43,082.64. Following the transaction, the insider owned 1,066 shares in the company, valued at approximately $40,678.56. This trade represents a 51.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 9.39% of the company’s stock.

Institutional Investors Weigh In On Astronics

A number of hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its stake in shares of Astronics by 147.6% in the second quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock worth $30,000 after buying an additional 533 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Astronics by 166.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 752 shares of the aerospace company’s stock valued at $34,000 after acquiring an additional 470 shares during the last quarter. US Bancorp DE lifted its stake in Astronics by 41.0% in the 3rd quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock worth $44,000 after purchasing an additional 281 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Astronics by 25.4% during the 3rd quarter. Covestor Ltd now owns 1,068 shares of the aerospace company’s stock worth $49,000 after purchasing an additional 216 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. grew its position in shares of Astronics by 250.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,225 shares of the aerospace company’s stock valued at $56,000 after purchasing an additional 875 shares in the last quarter. 56.68% of the stock is currently owned by institutional investors and hedge funds.

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.