Astronics Corporation (NASDAQ:ATRO) Given Average Rating of “Buy” by Analysts

Shares of Astronics Corporation (NASDAQ:ATRO) have been given an average recommendation of “Buy” by the seven analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $61.00.

Several equities research analysts recently issued reports on the company. Craig Hallum started coverage on Astronics in a research note on Friday, October 10th. They set a “buy” rating and a $60.00 price objective for the company. Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 10th. Truist Financial upped their price objective on shares of Astronics from $49.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Cowen started coverage on shares of Astronics in a research note on Wednesday, November 26th. They issued a “buy” rating on the stock. Finally, CJS Securities raised shares of Astronics to a “strong-buy” rating in a research note on Thursday, December 11th.

Institutional Investors Weigh In On Astronics

A number of large investors have recently added to or reduced their stakes in ATRO. IFP Advisors Inc boosted its holdings in shares of Astronics by 389.6% in the 3rd quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 448 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new stake in Astronics in the third quarter worth approximately $230,000. Advisory Services Network LLC purchased a new stake in Astronics in the third quarter worth approximately $58,000. NewEdge Advisors LLC grew its position in Astronics by 94.6% during the third quarter. NewEdge Advisors LLC now owns 19,207 shares of the aerospace company’s stock valued at $876,000 after acquiring an additional 9,336 shares during the last quarter. Finally, Caxton Associates LLP raised its stake in shares of Astronics by 12.0% during the third quarter. Caxton Associates LLP now owns 53,247 shares of the aerospace company’s stock worth $2,429,000 after acquiring an additional 5,716 shares in the last quarter. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Astronics Price Performance

ATRO stock opened at $54.79 on Friday. The firm has a 50 day moving average of $50.30 and a 200-day moving average of $41.50. The firm has a market capitalization of $1.95 billion, a P/E ratio of -608.71 and a beta of 1.12. Astronics has a 12 month low of $15.43 and a 12 month high of $55.65. The company has a current ratio of 2.87, a quick ratio of 1.56 and a debt-to-equity ratio of 3.07.

Astronics (NASDAQ:ATRO) last posted its earnings results on Tuesday, November 4th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.07. The business had revenue of $211.45 million for the quarter, compared to analysts’ expectations of $210.80 million. Astronics had a negative net margin of 0.37% and a positive return on equity of 29.65%. As a group, sell-side analysts predict that Astronics will post 0.82 earnings per share for the current fiscal 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.