Brighton Jones LLC Buys Shares of 6,869 Astronics Corporation $ATRO

Brighton Jones LLC bought a new stake in shares of Astronics Corporation (NASDAQ:ATRO) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 6,869 shares of the aerospace company’s stock, valued at approximately $230,000.

Several other hedge funds have also recently added to or reduced their stakes in ATRO. Signaturefd LLC raised its stake in Astronics by 88.5% during the 1st quarter. Signaturefd LLC now owns 1,446 shares of the aerospace company’s stock valued at $35,000 after acquiring an additional 679 shares in the last quarter. CWM LLC raised its stake in Astronics by 192.2% during the 1st quarter. CWM LLC now owns 2,592 shares of the aerospace company’s stock valued at $63,000 after acquiring an additional 1,705 shares in the last quarter. Verdence Capital Advisors LLC bought a new stake in Astronics during the 2nd quarter valued at $219,000. Longboard Asset Management LP bought a new stake in Astronics during the 2nd quarter valued at $222,000. Finally, DDD Partners LLC bought a new stake in Astronics during the 2nd quarter valued at $238,000. Institutional investors own 56.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ATRO shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research note on Wednesday, October 8th. Truist Financial lifted their price target on Astronics from $49.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Wall Street Zen upgraded Astronics from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Zacks Research cut Astronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Craig Hallum started coverage on Astronics in a research report on Friday, October 10th. They set a “buy” rating and a $60.00 price target on the stock. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $59.00.

Insider Activity

In other news, insider James Mulato sold 1,129 shares of the business’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $38.16, for a total transaction of $43,082.64. Following the sale, the insider directly owned 1,066 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this link. 9.39% of the stock is owned by company insiders.

Astronics Stock Up 0.2%

Shares of Astronics stock opened at $49.18 on Friday. The stock’s fifty day moving average is $43.79 and its 200-day moving average is $35.49. The firm has a market capitalization of $1.74 billion, a PE ratio of -409.80 and a beta of 1.68. The company has a quick ratio of 1.63, a current ratio of 3.04 and a debt-to-equity ratio of 0.59. Astronics Corporation has a 12-month low of $14.13 and a 12-month high of $51.88.

Astronics (NASDAQ:ATRO) last announced its earnings results on Wednesday, August 6th. The aerospace company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. The company had revenue of $204.68 million for the quarter, compared to analyst estimates of $208.29 million. Astronics had a positive return on equity of 22.89% and a negative net margin of 0.45%. Equities analysts anticipate that Astronics Corporation will post 0.82 earnings per share for the current year.

Astronics 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.