Astronics (NASDAQ:ATRO) Stock Rating Upgraded by Wall Street Zen

Astronics (NASDAQ:ATRO) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

A number of other research analysts have also issued reports on ATRO. Truist Financial boosted their price target on shares of Astronics from $49.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Zacks Research lowered Astronics from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a research note on Wednesday, October 8th. Finally, Craig Hallum assumed coverage on Astronics in a report on Friday, October 10th. They issued a “buy” rating and a $60.00 price target for the company. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $59.00.

Astronics Price Performance

Astronics stock opened at $46.23 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.04 and a quick ratio of 1.63. The business has a 50 day simple moving average of $40.72 and a 200-day simple moving average of $33.68. Astronics has a 12 month low of $14.13 and a 12 month high of $49.96. The stock has a market capitalization of $1.64 billion, a PE ratio of -385.22 and a beta of 1.68.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings data on Wednesday, August 6th. The aerospace company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.05. The company had revenue of $204.68 million for the quarter, compared to analysts’ expectations of $208.29 million. Astronics had a negative net margin of 0.45% and a positive return on equity of 22.89%. Equities analysts predict that Astronics will post 0.82 earnings per share for the current year.

Insider Activity

In other news, insider James Mulato sold 1,129 shares of Astronics stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $38.16, for a total transaction of $43,082.64. Following the completion of the sale, the insider directly owned 1,066 shares in the company, valued at approximately $40,678.56. This trade represents a 51.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.83% of the company’s stock.

Hedge Funds Weigh In On Astronics

Several hedge funds and other institutional investors have recently bought and sold shares of ATRO. GAMMA Investing LLC boosted its position in Astronics by 16,616.7% during the first quarter. GAMMA Investing LLC now owns 6,018 shares of the aerospace company’s stock worth $145,000 after purchasing an additional 5,982 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Astronics by 5.3% during the 1st quarter. Bank of New York Mellon Corp now owns 113,964 shares of the aerospace company’s stock worth $2,755,000 after buying an additional 5,733 shares during the last quarter. Envestnet Asset Management Inc. purchased a new stake in shares of Astronics in the 1st quarter worth about $5,521,000. CWM LLC lifted its holdings in shares of Astronics by 192.2% in the first quarter. CWM LLC now owns 2,592 shares of the aerospace company’s stock valued at $63,000 after purchasing an additional 1,705 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of Astronics by 88.5% during the 1st quarter. Signaturefd LLC now owns 1,446 shares of the aerospace company’s stock worth $35,000 after purchasing an additional 679 shares during the last quarter. 56.68% of the stock is owned by institutional investors and hedge funds.

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.