Astronics Corporation (NASDAQ:ATRO) Receives Average Rating of “Moderate Buy” from Analysts

Astronics Corporation (NASDAQ:ATRO) has been assigned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $61.00.

Several research firms recently issued reports on ATRO. Truist Financial upped their target price on shares of Astronics from $49.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Cowen started coverage on Astronics in a research report on Wednesday, November 26th. They set a “buy” rating on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a research note on Wednesday, October 8th. TD Cowen initiated coverage on Astronics in a report on Wednesday, November 26th. They issued a “buy” rating and a $65.00 target price for the company. Finally, Craig Hallum assumed coverage on Astronics in a report on Friday, October 10th. They set a “buy” rating and a $60.00 price target on the stock.

Astronics Price Performance

Astronics stock opened at $53.24 on Wednesday. The company has a current ratio of 2.87, a quick ratio of 1.56 and a debt-to-equity ratio of 3.07. The stock has a market cap of $1.90 billion, a P/E ratio of -591.49 and a beta of 1.12. The company has a 50-day moving average price of $48.56 and a 200 day moving average price of $39.61. Astronics has a 12-month low of $15.41 and a 12-month high of $55.28.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings data on Tuesday, November 4th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.07. The firm had revenue of $211.45 million during the quarter, compared to the consensus estimate of $210.80 million. Astronics had a positive return on equity of 29.65% and a negative net margin of 0.37%. Sell-side analysts anticipate that Astronics will post 0.82 earnings per share for the current year.

Insider Activity

In other Astronics news, insider James Mulato sold 1,129 shares of Astronics stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $38.16, for a total transaction of $43,082.64. Following the completion of the sale, the insider directly owned 1,066 shares of the company’s stock, valued at $40,678.56. The trade was a 51.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 10.83% of the company’s stock.

Institutional Trading of Astronics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ATRO. CWM LLC grew its holdings in shares of Astronics by 192.2% during the first quarter. CWM LLC now owns 2,592 shares of the aerospace company’s stock worth $63,000 after purchasing an additional 1,705 shares during the last quarter. Avantax Advisory Services Inc. purchased a new position in Astronics during the 1st quarter worth approximately $1,043,000. Federated Hermes Inc. increased its position in Astronics by 56.2% during the first quarter. Federated Hermes Inc. now owns 55,980 shares of the aerospace company’s stock worth $1,353,000 after buying an additional 20,136 shares during the period. XTX Topco Ltd increased its position in Astronics by 28.1% during the first quarter. XTX Topco Ltd now owns 22,357 shares of the aerospace company’s stock worth $540,000 after buying an additional 4,907 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Astronics by 1.7% in the first quarter. Vanguard Group Inc. now owns 1,601,632 shares of the aerospace company’s stock valued at $38,711,000 after buying an additional 27,025 shares during the last quarter. Institutional investors and hedge funds own 56.68% of the company’s stock.

About Astronics

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.