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

Astronics (NASDAQ:ATRO) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Several other research analysts also recently commented on the company. TD Cowen raised their price objective on Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Wall Street Zen raised shares of Astronics from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 21st. Truist Financial upgraded shares of Astronics to a “strong-buy” rating in a research note on Monday, May 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $74.17.

Astronics Stock Up 2.6%

ATRO opened at $69.00 on Monday. The firm’s 50 day simple moving average is $73.16 and its two-hundred day simple moving average is $65.03. The company has a market capitalization of $2.97 billion, a PE ratio of 70.17 and a beta of 1.13. Astronics has a 1-year low of $22.73 and a 1-year high of $88.72. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 2.07.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. The firm had revenue of $230.62 million during the quarter, compared to the consensus estimate of $225.52 million. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.37 EPS. As a group, equities analysts forecast that Astronics will post 2.62 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised 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 valued at $107,162,000 after buying an additional 39,527 shares during the last quarter. Capital International Investors grew its stake in Astronics by 31.5% during the fourth quarter. Capital International Investors now owns 1,849,886 shares of the aerospace company’s stock valued at $100,338,000 after acquiring an additional 442,886 shares in the last quarter. State Street Corp increased its holdings in Astronics by 26.2% in the 4th quarter. State Street Corp now owns 1,832,179 shares of the aerospace company’s stock valued at $99,377,000 after acquiring an additional 379,811 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Astronics by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 756,386 shares of the aerospace company’s stock valued at $41,033,000 after purchasing an additional 7,968 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Astronics by 80.1% during the first quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock valued at $18,054,000 after purchasing an additional 332,133 shares in the last quarter. 56.68% of the stock is currently owned by 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.