Lisanti Capital Growth LLC Buys Shares of 18,270 Astronics Corporation $ATRO

Lisanti Capital Growth LLC bought a new stake in shares of Astronics Corporation (NASDAQ:ATRO) during the fourth quarter, Holdings Channel.com reports. The fund bought 18,270 shares of the aerospace company’s stock, valued at approximately $991,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. EverSource Wealth Advisors LLC raised its holdings in Astronics by 19.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,137 shares of the aerospace company’s stock valued at $62,000 after acquiring an additional 188 shares during the period. Legato Capital Management LLC bought a new stake in Astronics during the 4th quarter worth approximately $366,000. Kingdom Financial Group LLC. bought a new stake in Astronics during the 4th quarter worth approximately $836,000. Leonteq Securities AG purchased a new stake in Astronics in the 4th quarter worth approximately $33,000. Finally, IFP Advisors Inc boosted its holdings in Astronics by 88.3% in the 4th quarter. IFP Advisors Inc now owns 1,062 shares of the aerospace company’s stock valued at $58,000 after purchasing an additional 498 shares during the period. Institutional investors own 56.68% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research report on Monday, April 20th. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. Zacks Research cut Astronics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Finally, Truist Financial upgraded Astronics to a “strong-buy” rating in a research note on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $77.33.

Astronics Stock Performance

NASDAQ:ATRO opened at $80.86 on Friday. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 68.53 and a beta of 1.10. The business has a 50 day moving average of $72.93 and a 200 day moving average of $66.86. The company has a debt-to-equity ratio of 2.07, a current ratio of 2.97 and a quick ratio of 1.63. Astronics Corporation has a 1-year low of $27.27 and a 1-year high of $86.27.

Astronics (NASDAQ:ATRO) last issued its quarterly 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 business had revenue of $230.62 million for the quarter, compared to analysts’ expectations of $225.52 million. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the business earned $0.44 earnings per share. On average, sell-side analysts predict that Astronics Corporation will post 2.68 earnings per share for the current fiscal year.

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.