Astronics (NASDAQ:ATRO) Rating Lowered to “Hold” at Zacks Research

Astronics (NASDAQ:ATRO) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Several other brokerages have also weighed in on ATRO. Cowen started coverage on shares of Astronics in a report on Wednesday, November 26th. They set a “buy” rating for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research report on Wednesday, October 8th. TD Cowen began coverage on Astronics in a report on Wednesday, November 26th. They issued a “buy” rating and a $65.00 price objective for the company. Craig Hallum started coverage on Astronics in a research note on Friday, October 10th. They set a “buy” rating and a $60.00 price objective on the stock. Finally, Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $61.00.

Astronics Price Performance

Shares of NASDAQ ATRO opened at $59.48 on Monday. The company has a quick ratio of 1.56, a current ratio of 2.87 and a debt-to-equity ratio of 3.07. Astronics has a fifty-two week low of $15.49 and a fifty-two week high of $59.82. The business has a 50 day moving average price of $51.98 and a two-hundred day moving average price of $43.43. The firm has a market cap of $2.12 billion, a PE ratio of -660.82 and a beta of 1.10.

Astronics (NASDAQ:ATRO) last released its earnings results on Tuesday, November 4th. The aerospace company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.42 by $0.07. Astronics had a positive return on equity of 29.65% and a negative net margin of 0.37%.The company had revenue of $211.45 million during the quarter, compared to analysts’ expectations of $210.80 million. Sell-side analysts expect that Astronics will post 0.82 earnings per share for the current fiscal year.

Institutional Trading of Astronics

Institutional investors and hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc boosted its position in Astronics by 389.6% during the 3rd quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 448 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Astronics by 147.6% in the second quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock valued at $30,000 after buying an additional 533 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Astronics by 166.7% during the third quarter. Jones Financial Companies Lllp now owns 752 shares of the aerospace company’s stock valued at $34,000 after acquiring an additional 470 shares during the period. US Bancorp DE grew its position in shares of Astronics by 41.0% during the third quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock worth $44,000 after acquiring an additional 281 shares during the last quarter. Finally, Covestor Ltd grew its position in shares of Astronics by 25.4% during the third quarter. Covestor Ltd now owns 1,068 shares of the aerospace company’s stock worth $49,000 after acquiring an additional 216 shares during the last quarter. 56.68% of the stock is currently owned by institutional investors and hedge funds.

About Astronics

Astronics Corporation (NASDAQ: ATRO) is a global leader in the design and manufacture of advanced technologies primarily for the aerospace, defense and semiconductor industries. Headquartered in East Aurora, New York, the company was founded in 1968 and has grown through a combination of internal development and strategic acquisitions. Astronics operates multiple business units focused on power conversion, distribution and control; cabin electronics and connectivity; aircraft lighting and safety solutions; and automated test systems.

The company’s aerospace products include onboard power generation and management systems, in-flight entertainment and connectivity hardware, LED and fluorescent lighting for aircraft cabins and cockpits, and safety equipment such as escape slide power units.