Astronics (NASDAQ:ATRO) Stock Rating Lowered by Zacks Research

Astronics (NASDAQ:ATRO) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday, Zacks reports.

A number of other research analysts also recently commented on ATRO. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a research report on Friday, July 17th. Wall Street Zen raised shares of Astronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Finally, TD Cowen increased their price objective on shares of Astronics from $70.83 to $83.33 and gave the company a “buy” rating in a research note on Thursday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.17.

Astronics Stock Performance

Shares of Astronics stock opened at $76.00 on Monday. The firm has a market cap of $3.27 billion, a P/E ratio of 44.71 and a beta of 1.20. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 1.57. Astronics has a 12 month low of $31.12 and a 12 month high of $94.46. The stock’s fifty day moving average price is $74.69 and its 200-day moving average price is $69.01.

Astronics (NASDAQ:ATRO) last released its quarterly earnings data on Tuesday, August 11th. The aerospace company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.11. Astronics had a return on equity of 67.69% and a net margin of 8.40%.The firm had revenue of $259.96 million during the quarter, compared to the consensus estimate of $245.30 million. Astronics’s revenue was up 46.9% compared to the same quarter last year. On average, equities research analysts expect that Astronics will post 2.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Astronics

A number of large investors have recently made changes to their positions in the business. IFP Advisors Inc lifted its holdings in shares of Astronics by 389.6% during the 3rd quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 448 shares during the last quarter. Allworth Financial LP boosted its position in shares of Astronics by 57.1% in the 4th quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 192 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Astronics by 147.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock worth $30,000 after buying an additional 533 shares during the last quarter. Quarry LP grew its stake in Astronics by 33.6% during the 4th quarter. Quarry LP now owns 568 shares of the aerospace company’s stock worth $31,000 after buying an additional 143 shares during the last quarter. Finally, Leonteq Securities AG acquired a new position in Astronics during the 4th quarter valued at about $33,000. 56.68% of the stock is owned by institutional investors and hedge funds.

Astronics Company Profile

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.