Astronics Co. (ATRO) Receives Average Recommendation of “Buy” from Brokerages

Astronics Co. (NASDAQ:ATRO) has received a consensus rating of “Buy” from the six brokerages that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $41.67.

Several brokerages recently weighed in on ATRO. Zacks Investment Research upgraded shares of Astronics from a “sell” rating to a “hold” rating and set a $45.00 price objective on the stock in a research report on Thursday, May 9th. BidaskClub upgraded shares of Astronics from a “hold” rating to a “buy” rating in a research report on Friday, May 10th.

Astronics stock opened at $41.39 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.50 and a current ratio of 2.44. Astronics has a 1 year low of $27.56 and a 1 year high of $46.56. The stock has a market capitalization of $1.35 billion, a PE ratio of 29.35, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings results on Wednesday, May 8th. The aerospace company reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.11. The company had revenue of $208.20 million for the quarter, compared to the consensus estimate of $192.10 million. Astronics had a net margin of 14.61% and a return on equity of 15.16%. The company’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same period last year, the firm posted $0.11 EPS. On average, research analysts expect that Astronics will post 1.92 earnings per share for the current year.

A number of large investors have recently modified their holdings of ATRO. Renaissance Technologies LLC lifted its position in Astronics by 44.9% in the 3rd quarter. Renaissance Technologies LLC now owns 26,800 shares of the aerospace company’s stock valued at $1,166,000 after purchasing an additional 8,300 shares during the last quarter. Morgan Stanley lifted its position in Astronics by 12.6% in the 3rd quarter. Morgan Stanley now owns 52,478 shares of the aerospace company’s stock valued at $2,283,000 after purchasing an additional 5,869 shares during the last quarter. Vanguard Group Inc. lifted its position in Astronics by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,187,299 shares of the aerospace company’s stock valued at $51,648,000 after purchasing an additional 30,545 shares during the last quarter. First Interstate Bank lifted its position in Astronics by 17.5% in the 4th quarter. First Interstate Bank now owns 3,555 shares of the aerospace company’s stock valued at $108,000 after purchasing an additional 530 shares during the last quarter. Finally, HGK Asset Management Inc. lifted its position in Astronics by 12.1% in the 4th quarter. HGK Asset Management Inc. now owns 17,027 shares of the aerospace company’s stock valued at $518,000 after purchasing an additional 1,837 shares during the last quarter. Hedge funds and other institutional investors own 63.88% of the company’s stock.

Astronics Company Profile

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, electronics, and semiconductor industries worldwide. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems; electrical power generation, distribution, and motions systems; aircraft structures; avionics products; system certification; and connectivity and other products.

Recommended Story: P/E Growth (PEG)

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