Astronics Corporation (ATRO) – What Are Researchers Thinking About This Stock?

Astronics Corporation (NASDAQ:ATRO) has been given a consensus rating of “Buy” by the six analysts that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $89.58.

A number of brokerages have weighed in on ATRO. Zacks Research lowered Astronics from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. Weiss Ratings downgraded Astronics from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. TD Cowen reissued a “buy” rating and set a $90.00 target price (down from $100.00) on shares of Astronics in a research note on Friday, October 9th. Finally, Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ATRO. BlackRock Inc. purchased a new position in Astronics in the second quarter worth $248,395,000. Dimensional Fund Advisors LP lifted its holdings in Astronics by 5.3% in the first quarter. Dimensional Fund Advisors LP now owns 673,760 shares of the aerospace company’s stock valued at $44,951,000 after acquiring an additional 34,018 shares during the period. Emerald Advisers LLC boosted its position in shares of Astronics by 85.0% during the 1st quarter. Emerald Advisers LLC now owns 449,126 shares of the aerospace company’s stock worth $29,970,000 after purchasing an additional 206,399 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its position in shares of Astronics by 78.1% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 279,159 shares of the aerospace company’s stock worth $18,628,000 after purchasing an additional 122,440 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Astronics by 4.1% during the 1st quarter. First Trust Advisors LP now owns 253,492 shares of the aerospace company’s stock worth $16,916,000 after purchasing an additional 10,014 shares in the last quarter. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Astronics Stock Performance

Shares of Astronics stock traded down $0.04 on Friday, reaching $61.53. 511,401 shares of the stock were exchanged, compared to its average volume of 570,078. Astronics has a 1-year low of $34.58 and a 1-year high of $94.46. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 1.57. The business has a fifty day moving average price of $72.56 and a two-hundred day moving average price of $70.25. The firm has a market capitalization of $2.65 billion, a PE ratio of 36.19 and a beta of 1.25.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings results on Tuesday, August 11th. The aerospace company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.11. The firm had revenue of $259.96 million during the quarter, compared to analysts’ expectations of $245.30 million. Astronics had a net margin of 8.40% and a return on equity of 67.69%. The firm’s quarterly revenue was up 46.9% compared to the same quarter last year. As a group, research analysts anticipate that Astronics will post 2.72 earnings per share for the current fiscal year.

About Astronics

Astronics Corporation is a diversified aerospace and defense technology company headquartered in East Aurora, New York. Founded in 1968, the company develops and manufactures advanced systems and components used in commercial aircraft, business and general aviation aircraft, military platforms, spacecraft, and other specialized applications.

Astronics’ products include aircraft electrical power and distribution systems, cockpit and avionics equipment, cabin electronics, lighting systems, in-flight connectivity solutions, and aircraft structures.