Astronics (NASDAQ:ATRO) Stock Bumped Up to “Strong-Buy” by Wall Street Zen

Wall Street Zen upgraded shares of Astronics (NASDAQ:ATRO) from a buy rating to a strong-buy rating in a report issued on Sunday morning,Wall Street Zen reports.

ATRO has been the topic of a number of other reports. Weiss Ratings downgraded shares of Astronics from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. KeyCorp assumed coverage on shares of Astronics in a research report on Thursday, October 22nd. They set a “sector weight” rating for the company. TD Cowen reiterated a “buy” rating and issued a $90.00 target price (down from $100.00) on shares of Astronics in a report on Friday, October 9th. Finally, Zacks Research lowered Astronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 7th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $89.58.

Astronics Price Performance

ATRO stock opened at $54.71 on Friday. The business has a fifty day moving average of $65.96 and a two-hundred day moving average of $67.49. The company has a quick ratio of 1.63, a current ratio of 2.97 and a debt-to-equity ratio of 1.57. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 32.18 and a beta of 1.37. Astronics has a 52-week low of $37.42 and a 52-week high of $94.46.

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

Institutional Investors Weigh In On Astronics

A number of hedge funds have recently added to or reduced their stakes in the business. Nykredit A S acquired a new stake in shares of Astronics in the second quarter valued at approximately $40,000. Fifth Third Bancorp grew its position in shares of Astronics by 877.2% during the first quarter. Fifth Third Bancorp now owns 557 shares of the aerospace company’s stock worth $37,000 after acquiring an additional 500 shares during the last quarter. Optiver Holding B.V. grew its position in shares of Astronics by 3,921.4% during the first quarter. Optiver Holding B.V. now owns 563 shares of the aerospace company’s stock worth $38,000 after acquiring an additional 549 shares during the last quarter. Allworth Financial LP purchased a new stake in Astronics in the 2nd quarter valued at $46,000. Finally, Blue Bell Private Wealth Management LLC acquired a new stake in Astronics during the 3rd quarter worth $48,000. 56.68% of the stock is currently owned by institutional investors and hedge funds.

Astronics Company Profile

Astronics Corporation designs and manufactures technologies for the aerospace, defense and other industries. Its aerospace products include aircraft lighting, electrical power generation and distribution systems, cabin electronics, connectivity solutions and avionics-related equipment used on commercial and military aircraft.

The company also develops test systems, including automated equipment used to test aerospace and defense electronics. Astronics serves aircraft manufacturers, airlines, defense organizations and other customers, with products and services reaching markets around the world.

Founded in 1968, Astronics is headquartered in East Aurora, New York.