Astronics Corporation (NASDAQ:ATRO) Stock Rated “Buy” by Wall Street Brokerages

Astronics Corporation (NASDAQ:ATRO) has been assigned a consensus rating of “Buy” from the six brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $74.17.

Several analysts recently issued reports on the stock. Zacks Research lowered shares of Astronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 7th. Weiss Ratings upgraded shares of Astronics from a “sell (d-)” rating to a “buy (b-)” rating in a research report on Tuesday, September 22nd. Finally, Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 16th.

Hedge Funds Weigh In On Astronics

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Astronics during the second quarter valued at about $248,395,000. Capital International Investors increased its position in shares of 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 buying an additional 442,886 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Astronics by 5.3% during the first quarter. Dimensional Fund Advisors LP now owns 673,760 shares of the aerospace company’s stock valued at $44,951,000 after buying an additional 34,018 shares during the period. Emerald Advisers LLC increased its position in shares of Astronics by 85.0% during the first quarter. Emerald Advisers LLC now owns 449,126 shares of the aerospace company’s stock valued at $29,970,000 after buying an additional 206,399 shares during the period. Finally, Congruence Capital LLC bought a new position in Astronics in the fourth quarter worth about $19,658,000. Institutional investors and hedge funds own 56.68% of the company’s stock.

Astronics Stock Performance

NASDAQ ATRO opened at $67.65 on Tuesday. The firm has a market capitalization of $2.91 billion, a P/E ratio of 39.79 and a beta of 1.20. 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 firm’s fifty day moving average price is $74.28 and its two-hundred day moving average price is $69.46. Astronics has a 1 year low of $34.58 and a 1 year high of $94.46.

Astronics (NASDAQ:ATRO) last posted its earnings results on Tuesday, August 11th. The aerospace company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.11. The business had revenue of $259.96 million for the quarter, compared to analyst estimates of $245.30 million. Astronics had a return on equity of 67.69% and a net margin of 8.40%.Astronics’s revenue was up 46.9% compared to the same quarter last year. As a group, research analysts anticipate that Astronics will post 2.74 EPS for the current year.

Astronics Company Profile

Astronics Corporation (NASDAQ: ATRO) designs and manufactures advanced aerospace and defense systems and equipment. Its products include aircraft lighting, electrical power and distribution systems, cabin electronics, connectivity solutions, avionics, and other specialized components used in commercial, business, general aviation, and military aircraft.

The company also provides automated test systems and related equipment used to test aerospace, defense, and other electronic systems. Its offerings support aircraft manufacturers, airlines, defense contractors, and maintenance organizations, as well as customers in the space and transportation markets.

Founded in 1968 and headquartered in East Aurora, New York, Astronics serves customers through operations and sales activities in the United States and international markets.