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

Shares of Astronics Corporation (NASDAQ:ATRO) have been assigned a consensus rating of “Buy” from the six brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $77.3333.

A number of equities research analysts have recently issued reports on ATRO shares. Zacks Research upgraded shares of Astronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research note on Wednesday, January 21st. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. CJS Securities upgraded Astronics to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Truist Financial boosted their target price on Astronics from $75.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th.

Astronics Stock Performance

NASDAQ:ATRO opened at $62.32 on Tuesday. The firm’s fifty day simple moving average is $74.20 and its 200-day simple moving average is $59.43. The company has a quick ratio of 1.71, a current ratio of 3.10 and a debt-to-equity ratio of 2.39. The stock has a market cap of $2.22 billion, a PE ratio of 80.94 and a beta of 1.06. Astronics has a fifty-two week low of $19.89 and a fifty-two week high of $83.96.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings data on Tuesday, February 24th. The aerospace company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.63 by $0.12. The firm had revenue of $240.07 million during the quarter, compared to analysts’ expectations of $237.11 million. Astronics had a net margin of 3.41% and a return on equity of 39.95%. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.46 earnings per share. Analysts expect that Astronics will post 0.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Astronics

Institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP grew its position in shares of Astronics by 33.6% in the fourth quarter. Quarry LP now owns 568 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 143 shares during the period. EverSource Wealth Advisors LLC increased its stake in Astronics by 19.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,137 shares of the aerospace company’s stock valued at $62,000 after purchasing an additional 188 shares during the last quarter. Allworth Financial LP lifted its position in Astronics by 57.1% during the fourth quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock worth $29,000 after buying an additional 192 shares during the period. Brighton Jones LLC boosted its stake in Astronics by 3.1% in the 3rd quarter. Brighton Jones LLC now owns 7,085 shares of the aerospace company’s stock worth $323,000 after buying an additional 216 shares during the last quarter. Finally, Covestor Ltd boosted its stake in Astronics by 25.4% in the 3rd quarter. Covestor Ltd now owns 1,068 shares of the aerospace company’s stock worth $49,000 after buying an additional 216 shares during the last quarter. 56.68% of the stock is currently owned by hedge funds and other institutional investors.

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.