Astronics (NASDAQ:ATRO) Stock Rating Lowered by Zacks Research

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

Other analysts have also recently issued research reports about the company. Truist Financial upgraded Astronics to a “strong-buy” rating in a research report on Monday, May 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research report on Monday, April 20th. Finally, Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 28th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Astronics currently has an average rating of “Moderate Buy” and an average price target of $77.33.

Astronics Stock Up 3.3%

Astronics stock opened at $82.71 on Wednesday. The stock has a market cap of $2.95 billion, a PE ratio of 70.09 and a beta of 1.10. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.71 and a current ratio of 3.10. Astronics has a one year low of $27.27 and a one year high of $83.96. The stock has a fifty day moving average of $72.28 and a 200 day moving average of $65.68.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. The company had revenue of $230.62 million during the quarter, compared to analysts’ expectations of $225.52 million. Astronics had a return on equity of 48.50% and a net margin of 5.12%.Astronics’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.44 earnings per share. As a group, sell-side analysts predict that Astronics will post 2.62 EPS for the current year.

Institutional Trading of Astronics

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Astronics by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 1,975,693 shares of the aerospace company’s stock worth $107,162,000 after purchasing an additional 39,527 shares in the last quarter. Capital International Investors grew its position in shares of Astronics by 31.5% during the fourth quarter. Capital International Investors now owns 1,849,886 shares of the aerospace company’s stock worth $100,338,000 after purchasing an additional 442,886 shares in the last quarter. State Street Corp grew its position in shares of Astronics by 26.2% during the fourth quarter. State Street Corp now owns 1,832,179 shares of the aerospace company’s stock worth $99,377,000 after purchasing an additional 379,811 shares in the last quarter. Luxor Capital Group LP purchased a new stake in shares of Astronics during the third quarter worth about $52,698,000. Finally, Geode Capital Management LLC grew its position in shares of Astronics by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 756,386 shares of the aerospace company’s stock worth $41,033,000 after purchasing an additional 7,968 shares in the last quarter. Hedge funds and other institutional investors own 56.68% of the company’s stock.

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.