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

Shares of Astronics Corporation (NASDAQ:ATRO) have received a consensus rating of “Buy” from the six brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $77.3333.

Several research firms have recently commented on ATRO. Truist Financial raised their price target on Astronics from $75.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Craig Hallum restated a “buy” rating on shares of Astronics in a research report on Friday, January 9th. Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research report on Monday, April 20th. Finally, Zacks Research upgraded Astronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ATRO. Nordea Investment Management AB acquired a new stake in shares of Astronics during the third quarter worth about $4,137,000. Capital International Investors acquired a new stake in shares of Astronics during the third quarter worth about $64,173,000. Vanguard Group Inc. increased its position in shares of Astronics by 5.8% during the third quarter. Vanguard Group Inc. now owns 1,936,166 shares of the aerospace company’s stock worth $88,309,000 after purchasing an additional 105,311 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Astronics during the third quarter worth about $2,204,000. Finally, Y Intercept Hong Kong Ltd increased its position in shares of Astronics by 74.9% during the third quarter. Y Intercept Hong Kong Ltd now owns 33,061 shares of the aerospace company’s stock worth $1,508,000 after purchasing an additional 14,160 shares in the last quarter. 56.68% of the stock is currently owned by hedge funds and other institutional investors.

Astronics Stock Performance

Shares of ATRO stock opened at $71.21 on Friday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.71 and a current ratio of 3.10. The firm has a market cap of $2.54 billion, a P/E ratio of 92.48 and a beta of 1.10. The firm’s 50 day moving average price is $72.45 and its 200-day moving average price is $63.81. Astronics has a one year low of $23.25 and a one year high of $83.96.

Astronics (NASDAQ:ATRO) last announced its earnings results on Tuesday, February 24th. The aerospace company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.12. Astronics had a return on equity of 39.95% and a net margin of 3.41%.The company had revenue of $240.07 million for the quarter, compared to analyst estimates of $237.11 million. During the same quarter in the previous year, the company earned $0.46 earnings per share. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. As a group, equities research analysts predict that Astronics will post 2.62 EPS for the current year.

About Astronics

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.