Astronics’ (ATRO) Hold Rating Reaffirmed at SunTrust Banks

SunTrust Banks restated their hold rating on shares of Astronics (NASDAQ:ATRO) in a research report sent to investors on Tuesday. The firm currently has a $44.00 price target on the aerospace company’s stock. SunTrust Banks also issued estimates for Astronics’ FY2018 earnings at $2.22 EPS and FY2019 earnings at $2.43 EPS.

A number of other research firms have also weighed in on ATRO. BidaskClub upgraded shares of Astronics from a buy rating to a strong-buy rating in a report on Friday, December 22nd. Zacks Investment Research upgraded shares of Astronics from a hold rating to a buy rating and set a $46.00 target price for the company in a report on Tuesday, January 2nd. Canaccord Genuity reiterated a buy rating and set a $46.00 target price on shares of Astronics in a report on Tuesday, December 12th. Finally, Dougherty & Co increased their target price on shares of Astronics from $40.00 to $45.00 and gave the stock a buy rating in a report on Monday, December 4th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $45.25.

Shares of Astronics (NASDAQ:ATRO) opened at $47.35 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.57 and a current ratio of 3.07. The firm has a market cap of $1,360.00, a PE ratio of 40.13, a PEG ratio of 2.13 and a beta of 1.52. Astronics has a 1-year low of $23.95 and a 1-year high of $48.50.

Astronics (NASDAQ:ATRO) last posted its earnings results on Tuesday, November 7th. The aerospace company reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.14). The firm had revenue of $149.64 million for the quarter, compared to analysts’ expectations of $154.90 million. Astronics had a return on equity of 10.29% and a net margin of 5.80%. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 earnings per share. research analysts predict that Astronics will post 1.29 EPS for the current year.

Astronics declared that its board has initiated a share buyback program on Monday, December 18th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

In related news, Director Robert J. Mckenna sold 45,000 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $39.00, for a total value of $1,755,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.45% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc raised its stake in Astronics by 10.7% in the second quarter. Legal & General Group Plc now owns 5,630 shares of the aerospace company’s stock worth $172,000 after buying an additional 546 shares in the last quarter. Connors Investor Services Inc. increased its stake in shares of Astronics by 1.8% during the second quarter. Connors Investor Services Inc. now owns 58,465 shares of the aerospace company’s stock valued at $1,781,000 after purchasing an additional 1,045 shares in the last quarter. Voya Investment Management LLC increased its stake in shares of Astronics by 11.2% during the second quarter. Voya Investment Management LLC now owns 10,719 shares of the aerospace company’s stock valued at $327,000 after purchasing an additional 1,078 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Astronics by 26.4% during the second 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 in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Astronics by 5.3% during the third quarter. Rhumbline Advisers now owns 28,194 shares of the aerospace company’s stock valued at $839,000 after purchasing an additional 1,426 shares in the last quarter. 65.77% of the stock is owned by institutional investors.

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Astronics Company Profile

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.

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