Astronics (NASDAQ:ATRO) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Astronics (NASDAQ:ATRO) from a buy rating to a hold rating in a research note released on Wednesday morning.

Separately, Truist Financial cut their price objective on shares of Astronics from $20.00 to $17.00 and set a “hold” rating on the stock in a research report on Tuesday, January 14th.

Astronics Stock Performance

Shares of ATRO opened at $20.01 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.46 and a current ratio of 2.83. Astronics has a twelve month low of $14.13 and a twelve month high of $23.74. The firm’s 50 day moving average price is $17.42 and its two-hundred day moving average price is $18.22. The firm has a market cap of $705.59 million, a P/E ratio of -105.31 and a beta of 1.79.

Institutional Trading of Astronics

A number of institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio lifted its position in shares of Astronics by 167.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 4,156 shares of the aerospace company’s stock worth $66,000 after purchasing an additional 2,600 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Astronics by 75.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,687 shares of the aerospace company’s stock worth $937,000 after buying an additional 25,146 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Astronics during the fourth quarter worth $1,022,000. Two Sigma Advisers LP increased its holdings in Astronics by 85.8% during the fourth quarter. Two Sigma Advisers LP now owns 99,400 shares of the aerospace company’s stock worth $1,586,000 after buying an additional 45,900 shares during the last quarter. Finally, Two Sigma Investments LP increased its holdings in Astronics by 159.1% during the fourth quarter. Two Sigma Investments LP now owns 177,148 shares of the aerospace company’s stock worth $2,827,000 after buying an additional 108,769 shares during the last quarter. Institutional investors own 56.68% of the company’s stock.

About Astronics

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.