Wall Street analysts expect that Astronics Co. (NASDAQ:ATRO) will announce $189.38 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Astronics’ earnings. The highest sales estimate is $190.76 million and the lowest is $188.00 million. Astronics reported sales of $208.61 million in the same quarter last year, which indicates a negative year-over-year growth rate of 9.2%. The business is expected to announce its next quarterly earnings report on Friday, August 2nd.
According to Zacks, analysts expect that Astronics will report full year sales of $782.02 million for the current financial year, with estimates ranging from $766.83 million to $797.20 million. For the next financial year, analysts expect that the company will report sales of $813.11 million, with estimates ranging from $787.72 million to $838.50 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Astronics.
Astronics (NASDAQ:ATRO) last issued its quarterly earnings data on Wednesday, May 8th. The aerospace company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.11. Astronics had a net margin of 14.61% and a return on equity of 15.16%. The company had revenue of $208.20 million for the quarter, compared to the consensus estimate of $192.10 million. During the same period last year, the firm posted $0.11 EPS. Astronics’s revenue for the quarter was up 16.2% on a year-over-year basis.
Several brokerages have issued reports on ATRO. SunTrust Banks lowered their price objective on shares of Broadcom to $307.00 and set a “buy” rating on the stock in a research report on Friday, June 14th. Seaport Global Securities raised shares of Saia from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 1st. BidaskClub downgraded shares of Xencor from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 11th. ValuEngine downgraded shares of Valero Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Finally, Zacks Investment Research raised shares of DLH from a “sell” rating to a “hold” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $40.25.
Astronics stock traded up $0.79 during midday trading on Friday, hitting $38.99. 240,564 shares of the company’s stock were exchanged, compared to its average volume of 203,168. Astronics has a 12-month low of $27.56 and a 12-month high of $46.56. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.50 and a current ratio of 2.44. The stock has a market cap of $1.25 billion, a PE ratio of 27.65, a price-to-earnings-growth ratio of 2.07 and a beta of 1.35. The business has a 50 day moving average price of $40.81.
In other Astronics news, VP Mark Peabody sold 2,000 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $43.78, for a total transaction of $87,560.00. Following the transaction, the vice president now directly owns 18,761 shares of the company’s stock, valued at approximately $821,356.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 9,000 shares of company stock worth $369,130 over the last three months. 15.80% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its holdings in shares of Astronics by 196.6% in the first quarter. PNC Financial Services Group Inc. now owns 872 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 578 shares in the last quarter. Optimum Investment Advisors purchased a new stake in shares of Astronics in the first quarter valued at about $33,000. Quantamental Technologies LLC purchased a new stake in shares of Astronics in the first quarter valued at about $50,000. Bremer Bank National Association purchased a new stake in shares of Astronics in the first quarter valued at about $67,000. Finally, Advisor Group Inc. boosted its holdings in shares of Astronics by 378.6% in the fourth quarter. Advisor Group Inc. now owns 2,307 shares of the aerospace company’s stock valued at $70,000 after acquiring an additional 1,825 shares in the last quarter. 64.92% of the stock is currently owned by institutional investors and hedge funds.
Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, electronics, and semiconductor industries worldwide. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems; electrical power generation, distribution, and motions systems; aircraft structures; avionics products; system certification; and connectivity and other products.
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