Astronics (NASDAQ:ATRO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Astronics (NASDAQ:ATRO) from a buy rating to a strong-buy rating in a report published on Sunday morning.

A number of other brokerages also recently issued reports on ATRO. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research report on Friday, July 17th. Zacks Research upgraded shares of Astronics from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. Truist Financial upgraded shares of Astronics to a “strong-buy” rating in a research report on Monday, May 4th. Finally, TD Cowen lifted their target price on shares of Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Three investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $74.17.

Astronics Trading Down 7.4%

Shares of ATRO stock opened at $86.12 on Friday. Astronics has a 1-year low of $27.89 and a 1-year high of $94.46. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 1.57. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 50.66 and a beta of 1.15. The stock has a 50-day moving average of $76.06 and a 200-day moving average of $67.72.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Tuesday, August 11th. The aerospace company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.11. Astronics had a return on equity of 67.69% and a net margin of 8.40%.The company had revenue of $259.96 million for the quarter, compared to analyst estimates of $245.30 million. The firm’s quarterly revenue was up 46.9% on a year-over-year basis. On average, equities research analysts forecast that Astronics will post 2.55 earnings per share for the current year.

Hedge Funds Weigh In On Astronics

Several institutional investors have recently added to or reduced their stakes in the business. Quarry LP grew its holdings in Astronics by 33.6% during the fourth quarter. Quarry LP now owns 568 shares of the aerospace company’s stock worth $31,000 after buying an additional 143 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Astronics by 19.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,137 shares of the aerospace company’s stock valued at $62,000 after buying an additional 188 shares during the last quarter. Allworth Financial LP lifted its stake in Astronics by 57.1% during the 4th quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 192 shares in the last quarter. US Bancorp DE boosted its holdings in Astronics by 41.0% during the 3rd quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock worth $44,000 after acquiring an additional 281 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. raised its holdings in shares of Astronics by 24.5% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 1,525 shares of the aerospace company’s stock valued at $83,000 after purchasing an additional 300 shares during the last quarter. 56.68% of the stock is owned by institutional investors and hedge funds.

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.