Astronics Corporation (NASDAQ:ATRO) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Astronics Corporation (NASDAQ:ATRO) have earned an average recommendation of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat Ratings reports. One 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 twelve-month price target among analysts that have issued ratings on the stock in the last year is $74.1667.

Several research analysts have weighed in on ATRO shares. Zacks Research downgraded Astronics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. TD Cowen raised their price objective on Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a report on Thursday, May 28th. Truist Financial raised Astronics to a “strong-buy” rating in a research report on Monday, May 4th. Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 21st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a research report on Monday, April 20th.

Astronics Stock Performance

Shares of NASDAQ ATRO opened at $71.17 on Thursday. The company has a market cap of $3.06 billion, a PE ratio of 72.38 and a beta of 1.13. Astronics has a 12 month low of $22.73 and a 12 month high of $88.72. The company has a debt-to-equity ratio of 2.07, a current ratio of 2.97 and a quick ratio of 1.63. The company has a 50-day simple moving average of $71.71 and a 200-day simple moving average of $63.50.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.03. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The business had revenue of $230.62 million for the quarter, compared to the consensus estimate of $225.52 million. During the same quarter in the prior year, the firm posted $0.37 earnings per share. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, equities analysts anticipate that Astronics will post 2.23 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. IFP Advisors Inc boosted its position in shares of Astronics by 389.6% in the third quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 448 shares during the last quarter. Allworth Financial LP increased its position in Astronics by 57.1% during the fourth quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 192 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Astronics by 147.6% during the second quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock worth $30,000 after purchasing an additional 533 shares during the last quarter. Quarry LP raised its stake in Astronics by 33.6% during the fourth quarter. Quarry LP now owns 568 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 143 shares during the period. Finally, Leonteq Securities AG purchased a new position in Astronics during the fourth quarter worth approximately $33,000. 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.