Analysts Set Astronics Corporation (NASDAQ:ATRO) Target Price at $77.33

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

Several research firms recently weighed in on ATRO. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a research report on Monday, April 20th. Truist Financial raised Astronics to a “strong-buy” rating in a research note on Monday, May 4th. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. Finally, Zacks Research downgraded Astronics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ATRO. AQR Capital Management LLC boosted its stake in shares of Astronics by 20.4% during the 1st quarter. AQR Capital Management LLC now owns 112,210 shares of the aerospace company’s stock valued at $2,712,000 after buying an additional 18,975 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Astronics by 6.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,491 shares of the aerospace company’s stock worth $423,000 after acquiring an additional 1,069 shares during the last quarter. Millennium Management LLC increased its stake in shares of Astronics by 80.1% in the first quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock worth $18,054,000 after acquiring an additional 332,133 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Astronics by 26.1% during the first quarter. Goldman Sachs Group Inc. now owns 222,486 shares of the aerospace company’s stock worth $5,377,000 after acquiring an additional 46,054 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Astronics by 22.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,791 shares of the aerospace company’s stock valued at $1,735,000 after purchasing an additional 13,104 shares during the last quarter. Institutional investors and hedge funds own 56.68% of the company’s stock.

Astronics Trading Up 4.4%

Astronics stock opened at $84.44 on Wednesday. Astronics has a 52 week low of $27.27 and a 52 week high of $86.27. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.63 and a current ratio of 2.97. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 71.56 and a beta of 1.10. The company has a 50 day moving average price of $73.60 and a 200 day moving average price of $67.48.

Astronics (NASDAQ:ATRO) last announced its earnings results on Tuesday, May 12th. The aerospace company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.04. The company had revenue of $230.62 million for the quarter, compared to the consensus estimate of $225.52 million. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The company’s revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.44 EPS. Research analysts forecast that Astronics will post 2.68 EPS for the current year.

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.