Astronics Corporation (ATRO) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Astronics Corporation (NASDAQ:ATRO) from a sell rating to a hold rating in a research note released on Friday morning.

According to Zacks, “Astronics Corporation is a manufacturer of specialized lighting and electronics for the cockpit, cabin and exteriors of military, commercial transport and private business jet aircraft. A major lighting and electronics supplier to the aircraft industry, its strategy is to expand from a components and subsystems supplier to an aircraft lighting systems integrator, increasing the value and content it provides to various aircraft platforms. Luminescent Systems Inc. is Astronics’ primary operating subsidiary which produces its aerospace and defense products. “

A number of other equities research analysts have also weighed in on ATRO. Dougherty & Co boosted their price objective on Astronics Corporation from $35.00 to $40.00 and gave the stock a buy rating in a research report on Wednesday, November 8th. Canaccord Genuity restated a buy rating and set a $40.00 price objective on shares of Astronics Corporation in a research report on Tuesday, November 7th. BidaskClub lowered Astronics Corporation from a sell rating to a strong sell rating in a research report on Monday, July 24th. Finally, SunTrust Banks, Inc. restated a hold rating and set a $30.00 price objective on shares of Astronics Corporation in a research report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Astronics Corporation currently has a consensus rating of Hold and an average target price of $37.25.

Astronics Corporation (NASDAQ ATRO) opened at $37.54 on Friday. Astronics Corporation has a 52 week low of $23.95 and a 52 week high of $41.03. The company has a quick ratio of 1.57, a current ratio of 3.07 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $1,096.95, a price-to-earnings ratio of 32.39, a PEG ratio of 1.89 and a beta of 1.04.

Astronics Corporation (NASDAQ:ATRO) last issued its quarterly earnings results on Tuesday, November 7th. The aerospace company reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.14). Astronics Corporation had a net margin of 5.80% and a return on equity of 10.29%. The business had revenue of $149.64 million during the quarter, compared to the consensus estimate of $154.90 million. During the same quarter in the previous year, the business posted $0.41 EPS. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. sell-side analysts expect that Astronics Corporation will post 1.35 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by Markets Daily and is the sole property of of Markets Daily. If you are accessing this news story on another publication, it was illegally copied and reposted in violation of US and international trademark and copyright law. The legal version of this news story can be accessed at https://www.themarketsdaily.com/2017/11/14/astronics-corporation-atro-upgraded-by-zacks-investment-research-to-hold.html.

Institutional investors and hedge funds have recently made changes to their positions in the business. Legal & General Group Plc lifted its holdings in Astronics Corporation by 12.0% during the 1st quarter. Legal & General Group Plc now owns 5,084 shares of the aerospace company’s stock worth $161,000 after buying an additional 543 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of Astronics Corporation by 26.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,999 shares of the aerospace company’s stock valued at $183,000 after purchasing an additional 1,254 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Astronics Corporation by 37.9% in the 1st quarter. JPMorgan Chase & Co. now owns 7,534 shares of the aerospace company’s stock valued at $239,000 after purchasing an additional 2,069 shares during the period. Tudor Investment Corp ET AL acquired a new position in shares of Astronics Corporation in the 1st quarter valued at about $240,000. Finally, Marshall Wace North America L.P. acquired a new position in shares of Astronics Corporation in the 2nd quarter valued at about $294,000. 64.88% of the stock is currently owned by hedge funds and other institutional investors.

About Astronics Corporation

Astronics Corporation is a supplier of products to the aerospace, defense, electronics and semiconductor industries. The Company’s products and services include electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems.

Get a free copy of the Zacks research report on Astronics Corporation (ATRO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Astronics Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Astronics Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply