Truist Financial Trims Astronics (NASDAQ:ATRO) Target Price to $19.00

Astronics (NASDAQ:ATRO) had its price target lowered by Truist Financial from $21.00 to $19.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a hold rating on the aerospace company’s stock.

Separately, StockNews.com upgraded Astronics from a hold rating to a buy rating in a research report on Thursday, February 29th.

Astronics Stock Up 6.7 %

NASDAQ ATRO opened at $18.37 on Friday. The stock has a 50 day moving average price of $17.75 and a 200-day moving average price of $16.94. Astronics has a one year low of $14.06 and a one year high of $22.44. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.38 and a current ratio of 2.72. The company has a market capitalization of $634.13 million, a P/E ratio of -23.86 and a beta of 1.64.

Astronics (NASDAQ:ATRO) last released its quarterly earnings data on Thursday, May 2nd. The aerospace company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.14). Astronics had a negative net margin of 3.51% and a negative return on equity of 6.02%. The business had revenue of $185.07 million for the quarter, compared to the consensus estimate of $172.74 million. During the same quarter last year, the business earned ($0.14) EPS. As a group, equities analysts predict that Astronics will post 0.71 EPS for the current fiscal year.

Insider Buying and Selling at Astronics

In related news, EVP Michael C. Kuehn sold 7,074 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $17.72, for a total transaction of $125,351.28. Following the transaction, the executive vice president now directly owns 12,875 shares in the company, valued at approximately $228,145. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Astronics news, EVP Michael C. Kuehn sold 7,074 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $17.72, for a total transaction of $125,351.28. Following the completion of the transaction, the executive vice president now owns 12,875 shares in the company, valued at $228,145. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael C. Kuehn sold 2,209 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $20.16, for a total value of $44,533.44. Following the completion of the sale, the executive vice president now owns 14,248 shares in the company, valued at $287,239.68. The disclosure for this sale can be found here. Company insiders own 10.86% of the company’s stock.

Institutional Trading of Astronics

Large investors have recently made changes to their positions in the stock. BKM Wealth Management LLC bought a new stake in Astronics during the 4th quarter valued at about $64,000. Psagot Value Holdings Ltd. Israel increased its position in shares of Astronics by 856.5% during the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 4,352 shares of the aerospace company’s stock worth $77,000 after acquiring an additional 3,897 shares during the period. RiverPark Advisors LLC bought a new stake in shares of Astronics during the third quarter valued at approximately $75,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Astronics in the third quarter valued at approximately $178,000. Finally, Clear Rock Advisors LLC bought a new position in Astronics in the fourth quarter worth approximately $204,000. 56.68% of the stock is 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.