Weiss Ratings Reiterates Sell (D-) Rating for Astronics (NASDAQ:ATRO)

Astronics (NASDAQ:ATRO)‘s stock had its “sell (d-)” rating reaffirmed by Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Other equities research analysts have also recently issued reports about the company. Truist Financial upgraded Astronics from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Friday, July 11th. Wall Street Zen downgraded Astronics from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Zacks Research downgraded Astronics from a “strong-buy” rating to a “hold” rating in a research report on Monday. One investment analyst has rated the stock with 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, the company presently has an average rating of “Hold” and a consensus target price of $49.00.

Astronics Stock Down 3.0%

Shares of NASDAQ:ATRO opened at $46.03 on Wednesday. Astronics has a 52-week low of $14.13 and a 52-week high of $48.94. The stock has a market cap of $1.63 billion, a P/E ratio of -383.55 and a beta of 1.68. The business’s 50 day moving average is $39.05 and its 200 day moving average is $32.63. 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 (NASDAQ:ATRO) last announced its quarterly earnings data on Wednesday, August 6th. The aerospace company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.05. The company had revenue of $204.68 million for the quarter, compared to analysts’ expectations of $208.29 million. Astronics had a positive return on equity of 22.89% and a negative net margin of 0.45%. Sell-side analysts predict that Astronics will post 0.82 EPS for the current year.

Insider Activity at Astronics

In other news, insider James Mulato sold 1,129 shares of the 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 completion of the sale, the insider owned 1,066 shares in the company, valued at approximately $40,678.56. This represents a 51.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.39% of the company’s stock.

Institutional Trading of Astronics

Several hedge funds and other institutional investors have recently made changes to their positions in ATRO. Ameritas Investment Partners Inc. raised its stake in Astronics by 13.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,091 shares of the aerospace company’s stock worth $103,000 after acquiring an additional 369 shares during the last quarter. Captrust Financial Advisors raised its stake in Astronics by 2.3% in the 2nd quarter. Captrust Financial Advisors now owns 19,220 shares of the aerospace company’s stock worth $643,000 after acquiring an additional 435 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Astronics by 4.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,983 shares of the aerospace company’s stock worth $368,000 after acquiring an additional 451 shares during the last quarter. Osaic Holdings Inc. raised its stake in Astronics by 30.0% in the 2nd quarter. Osaic Holdings Inc. now owns 2,294 shares of the aerospace company’s stock worth $77,000 after acquiring an additional 529 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Astronics by 147.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock worth $30,000 after acquiring an additional 533 shares during the last quarter. Hedge funds and other institutional investors own 56.68% of the company’s stock.

About Astronics

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.