Astronics (NASDAQ:ATRO) Downgraded by BidaskClub to “Sell”

BidaskClub cut shares of Astronics (NASDAQ:ATRO) from a hold rating to a sell rating in a report released on Saturday, BidAskClub reports.

A number of other equities research analysts have also commented on the stock. Zacks Investment Research upgraded shares of DLH from a sell rating to a hold rating in a report on Tuesday, July 9th. ValuEngine downgraded shares of Valero Energy from a hold rating to a sell rating in a research report on Wednesday, May 8th. Seaport Global Securities raised shares of Saia from a neutral rating to a buy rating in a research report on Wednesday, May 1st. Finally, SunTrust Banks decreased their target price on shares of Broadcom to $307.00 and set a buy rating for the company in a research report on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Astronics presently has an average rating of Hold and a consensus target price of $40.25.

Shares of NASDAQ:ATRO opened at $38.72 on Friday. Astronics has a 12 month low of $27.56 and a 12 month high of $46.56. The company has a current ratio of 2.44, a quick ratio of 1.50 and a debt-to-equity ratio of 0.25. The stock’s fifty day moving average is $40.65. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 27.46, a price-to-earnings-growth ratio of 2.07 and a beta of 1.35.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings data on Wednesday, May 8th. The aerospace company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.11. Astronics had a net margin of 14.61% and a return on equity of 15.16%. The business had revenue of $208.20 million for the quarter, compared to analyst estimates of $192.10 million. During the same period last year, the business posted $0.11 earnings per share. The firm’s quarterly revenue was up 16.2% on a year-over-year basis. Equities analysts predict that Astronics will post 1.89 earnings per share for the current year.

In related 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 value of $87,560.00. Following the completion of the transaction, the vice president now owns 18,761 shares of the company’s stock, valued at $821,356.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders sold 9,000 shares of company stock valued at $369,130. 15.80% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Astronics by 16.9% in the 4th quarter. BlackRock Inc. now owns 2,941,886 shares of the aerospace company’s stock valued at $89,581,000 after acquiring an additional 425,325 shares during the period. International Value Advisers LLC grew its position in shares of Astronics by 7.7% in the 1st quarter. International Value Advisers LLC now owns 1,601,134 shares of the aerospace company’s stock valued at $52,389,000 after acquiring an additional 115,105 shares during the period. Federated Investors Inc. PA grew its position in shares of Astronics by 14.6% in the 1st quarter. Federated Investors Inc. PA now owns 635,859 shares of the aerospace company’s stock valued at $20,805,000 after acquiring an additional 81,109 shares during the period. Geode Capital Management LLC grew its position in shares of Astronics by 19.0% in the 4th quarter. Geode Capital Management LLC now owns 364,134 shares of the aerospace company’s stock valued at $11,087,000 after acquiring an additional 58,162 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Astronics by 240.6% in the 4th quarter. Bank of New York Mellon Corp now owns 323,261 shares of the aerospace company’s stock valued at $9,843,000 after acquiring an additional 228,363 shares during the period. 64.92% of the stock is owned by institutional investors.

Astronics Company Profile

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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