Astronics (NASDAQ:ATRO) Stock Rating Lowered by Wall Street Zen

Astronics (NASDAQ:ATRO) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Sunday.

Several other equities analysts also recently weighed in on the stock. Craig Hallum started coverage on shares of Astronics in a research note on Friday, October 10th. They issued a “buy” rating and a $60.00 target price for the company. Truist Financial raised their price target on Astronics from $49.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded Astronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Astronics currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.00.

Astronics Price Performance

Astronics stock opened at $50.12 on Friday. The business’s 50 day simple moving average is $46.29 and its 200 day simple moving average is $37.75. Astronics has a 12 month low of $14.13 and a 12 month high of $53.42. The company has a market cap of $1.79 billion, a price-to-earnings ratio of -417.63 and a beta of 1.63. The company has a current ratio of 3.04, a quick ratio of 1.63 and a debt-to-equity ratio of 0.59.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings results on Tuesday, November 4th. The aerospace company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07. The firm had revenue of $211.45 million for the quarter, compared to analysts’ expectations of $210.80 million. Astronics had a positive return on equity of 22.89% and a negative net margin of 0.45%. Astronics has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Astronics will post 0.82 EPS for the current year.

Insider Buying and Selling at Astronics

In other Astronics news, insider James Mulato sold 1,129 shares of Astronics stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $38.16, for a total transaction of $43,082.64. Following the completion of the sale, the insider directly owned 1,066 shares in the company, valued at $40,678.56. The trade was a 51.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 9.39% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its holdings in Astronics by 3.1% during the 3rd quarter. Brighton Jones LLC now owns 7,085 shares of the aerospace company’s stock valued at $323,000 after purchasing an additional 216 shares during the period. Covestor Ltd lifted its holdings in Astronics by 25.4% in the 3rd quarter. Covestor Ltd now owns 1,068 shares of the aerospace company’s stock worth $49,000 after buying an additional 216 shares during the period. US Bancorp DE grew its position in shares of Astronics by 41.0% in the 3rd quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock worth $44,000 after buying an additional 281 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in shares of Astronics by 13.6% during the second quarter. Ameritas Investment Partners Inc. now owns 3,091 shares of the aerospace company’s stock valued at $103,000 after buying an additional 369 shares during the period. Finally, WINTON GROUP Ltd increased its stake in shares of Astronics by 4.6% during the third quarter. WINTON GROUP Ltd now owns 8,644 shares of the aerospace company’s stock valued at $394,000 after buying an additional 383 shares during the period. 56.68% of the stock is currently owned by hedge funds and other institutional investors.

Astronics Company Profile

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.