Astronics Corporation (NASDAQ:ATRO) Given Consensus Recommendation of “Buy” by Analysts

Shares of Astronics Corporation (NASDAQ:ATRO) have received an average rating of “Buy” from the six analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $74.1667.

A number of equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Astronics from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 16th. TD Cowen lifted their target price on Astronics from $70.83 to $83.33 and gave the company a “buy” rating in a research note on Thursday, May 28th. Zacks Research raised shares of Astronics from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a report on Friday, July 17th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ATRO. Corient Private Wealth LP raised its position in shares of Astronics by 19.1% in the 2nd quarter. Corient Private Wealth LP now owns 12,955 shares of the aerospace company’s stock valued at $1,053,000 after purchasing an additional 2,078 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Astronics during the second quarter worth $1,678,000. California State Teachers Retirement System grew its holdings in shares of Astronics by 7,794.4% during the second quarter. California State Teachers Retirement System now owns 2,720,422 shares of the aerospace company’s stock valued at $221,061,000 after buying an additional 2,685,962 shares during the last quarter. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Astronics in the 2nd quarter valued at $451,000. Finally, Nykredit A S acquired a new stake in Astronics during the 2nd quarter worth about $40,000. 56.68% of the stock is owned by institutional investors and hedge funds.

Astronics Stock Performance

ATRO stock opened at $74.53 on Friday. The company has a debt-to-equity ratio of 1.57, a current ratio of 2.97 and a quick ratio of 1.63. The business has a 50-day moving average price of $75.15 and a 200 day moving average price of $68.76. The company has a market capitalization of $3.21 billion, a P/E ratio of 43.84 and a beta of 1.20. Astronics has a 1-year low of $30.68 and a 1-year high of $94.46.

Astronics (NASDAQ:ATRO) last issued its earnings results on Tuesday, August 11th. The aerospace company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.11. The company had revenue of $259.96 million for the quarter, compared to analysts’ expectations of $245.30 million. Astronics had a net margin of 8.40% and a return on equity of 67.69%. Astronics’s revenue was up 46.9% on a year-over-year basis. As a group, equities research analysts forecast that Astronics will post 2.74 EPS for the current fiscal year.

Astronics Company Profile

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.