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

Astronics Corporation (NASDAQ:ATRO) has been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $77.3333.

A number of research analysts have recently commented on the company. Truist Financial upgraded Astronics to a “strong-buy” rating in a research note on Monday, May 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a report on Monday, April 20th. Zacks Research cut Astronics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Finally, Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th.

Astronics Price Performance

Shares of Astronics stock opened at $79.38 on Wednesday. The company has a quick ratio of 1.63, a current ratio of 2.97 and a debt-to-equity ratio of 2.07. The company has a market cap of $2.83 billion, a PE ratio of 67.27 and a beta of 1.10. The business has a 50 day moving average of $72.43 and a 200 day moving average of $66.29. Astronics has a 52 week low of $27.27 and a 52 week high of $83.96.

Astronics (NASDAQ:ATRO) last announced its earnings results 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 the consensus estimate of $225.52 million. Astronics had a return on equity of 49.34% and a net margin of 5.12%.The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 earnings per share. As a group, equities research analysts forecast that Astronics will post 2.65 earnings per share for the current year.

Institutional Trading of Astronics

A number of large investors have recently made changes to their positions in ATRO. Capital International Investors bought a new stake in shares of Astronics in the third quarter worth approximately $64,173,000. Luxor Capital Group LP purchased a new stake in Astronics during the 3rd quarter valued at $52,698,000. State Street Corp raised its stake in Astronics by 26.2% during the 4th quarter. State Street Corp now owns 1,832,179 shares of the aerospace company’s stock valued at $99,377,000 after buying an additional 379,811 shares during the last quarter. Congruence Capital LLC purchased a new stake in Astronics during the 4th quarter valued at $19,658,000. Finally, Millennium Management LLC raised its stake in Astronics by 80.1% during the 1st quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock valued at $18,054,000 after buying an additional 332,133 shares during the last quarter. 56.68% of the stock is currently owned by institutional investors.

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.