Astronics Corporation (NASDAQ:ATRO) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Astronics Corporation (NASDAQ:ATRO) have been assigned an average rating of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $77.3333.

A number of brokerages have weighed in on ATRO. Zacks Research lowered shares of Astronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research note on Monday, April 20th. Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. Finally, Truist Financial upgraded Astronics to a “strong-buy” rating in a research note on Monday, May 4th.

Astronics Price Performance

Shares of ATRO opened at $79.38 on Wednesday. The firm has a market cap of $2.83 billion, a PE ratio of 67.27 and a beta of 1.10. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 2.07. The firm has a fifty day simple moving average of $72.43 and a two-hundred day simple moving average of $66.29. Astronics has a 1-year low of $27.27 and a 1-year high of $83.96.

Astronics (NASDAQ:ATRO) last announced its earnings results on Tuesday, May 12th. The aerospace company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. The business had revenue of $230.62 million during the quarter, compared to analyst estimates of $225.52 million. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.44 EPS. On average, equities analysts anticipate that Astronics will post 2.65 EPS for the current year.

Institutional Investors Weigh In On Astronics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake 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 purchasing an additional 39,527 shares in the last quarter. Capital International Investors increased its stake in shares of Astronics by 31.5% in the 4th quarter. Capital International Investors now owns 1,849,886 shares of the aerospace company’s stock worth $100,338,000 after purchasing an additional 442,886 shares in the last quarter. State Street Corp increased its stake in shares of Astronics by 26.2% in the 4th quarter. State Street Corp now owns 1,832,179 shares of the aerospace company’s stock worth $99,377,000 after purchasing an additional 379,811 shares in the last quarter. Luxor Capital Group LP purchased a new stake in shares of Astronics in the 3rd quarter worth $52,698,000. Finally, Geode Capital Management LLC increased its stake in shares of Astronics by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 756,386 shares of the aerospace company’s stock worth $41,033,000 after purchasing an additional 7,968 shares in 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) 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.