Zacks Investment Research upgraded shares of Astronics (NASDAQ:ATRO) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.
According to Zacks, “Astronics Corporation is a manufacturer of specialized lighting and electronics for the cockpit, cabin and exteriors of military, commercial transport and private business jet aircraft. A major lighting and electronics supplier to the aircraft industry, its strategy is to expand from a components and subsystems supplier to an aircraft lighting systems integrator, increasing the value and content it provides to various aircraft platforms. Luminescent Systems Inc. is Astronics’ primary operating subsidiary which produces its aerospace and defense products. “
A number of other brokerages have also recently issued reports on ATRO. ValuEngine raised shares of Astronics from a sell rating to a hold rating in a research note on Friday, November 16th. BidaskClub raised shares of Astronics from a strong sell rating to a sell rating in a research note on Friday, November 23rd. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $41.33.
Shares of NASDAQ:ATRO opened at $35.47 on Tuesday. The company has a market capitalization of $1.11 billion, a P/E ratio of 22.55, a PEG ratio of 2.06 and a beta of 1.81. The company has a current ratio of 3.11, a quick ratio of 1.79 and a debt-to-equity ratio of 0.70. Astronics has a 1 year low of $27.56 and a 1 year high of $46.56.
Astronics (NASDAQ:ATRO) last announced its quarterly earnings data on Thursday, February 21st. The aerospace company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.03. The business had revenue of $202.92 million for the quarter, compared to analysts’ expectations of $195.09 million. Astronics had a net margin of 3.71% and a return on equity of 13.19%. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.18) earnings per share. As a group, equities analysts predict that Astronics will post 1.43 EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in Astronics by 16.9% in the fourth quarter. BlackRock Inc. now owns 2,941,886 shares of the aerospace company’s stock valued at $89,581,000 after acquiring an additional 425,325 shares during the last quarter. Vanguard Group Inc boosted its position in Astronics by 2.6% in the third quarter. Vanguard Group Inc now owns 1,187,299 shares of the aerospace company’s stock valued at $51,648,000 after buying an additional 30,545 shares in the last quarter. Vanguard Group Inc. boosted its position in Astronics by 2.6% in the third quarter. Vanguard Group Inc. now owns 1,187,299 shares of the aerospace company’s stock valued at $51,648,000 after buying an additional 30,545 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Astronics by 33.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,064,514 shares of the aerospace company’s stock valued at $46,306,000 after buying an additional 264,702 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Astronics by 19.0% in the fourth quarter. Geode Capital Management LLC now owns 364,134 shares of the aerospace company’s stock valued at $11,087,000 after buying an additional 58,162 shares in the last quarter. 60.82% of the stock is currently owned by institutional investors and hedge funds.
Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, electronics, and semiconductor industries worldwide. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems; electrical power generation, distribution, and motions systems; aircraft structures; avionics products; system certification; and connectivity and other products.
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