20,819 Shares in Astronics Corporation $ATRO Purchased by OP Asset Management Ltd

OP Asset Management Ltd acquired a new stake in Astronics Corporation (NASDAQ:ATRO) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 20,819 shares of the aerospace company’s stock, valued at approximately $1,389,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc increased its stake in shares of Astronics by 389.6% in the third quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 448 shares during the period. Allworth Financial LP boosted its position in shares of Astronics by 57.1% during the fourth quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock worth $29,000 after buying an additional 192 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Astronics by 147.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock worth $30,000 after buying an additional 533 shares in the last quarter. Quarry LP grew its holdings in Astronics by 33.6% in the 4th quarter. Quarry LP now owns 568 shares of the aerospace company’s stock worth $31,000 after buying an additional 143 shares in the last quarter. Finally, Leonteq Securities AG acquired a new stake in Astronics in the 4th quarter valued at approximately $33,000. 56.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ATRO has been the topic of several recent analyst reports. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 21st. Truist Financial raised Astronics to a “strong-buy” rating in a report on Monday, May 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research note on Monday, April 20th. TD Cowen upped their price objective on shares of Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a report on Thursday, May 28th. Finally, Zacks Research lowered shares of Astronics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $74.17.

Astronics Stock Performance

Shares of NASDAQ ATRO opened at $85.66 on Tuesday. Astronics Corporation has a 1 year low of $22.73 and a 1 year high of $88.72. The firm has a market cap of $3.68 billion, a P/E ratio of 87.11 and a beta of 1.14. The stock has a fifty day moving average price of $70.18 and a two-hundred day moving average price of $62.06. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.63 and a current ratio of 2.97.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Astronics had a return on equity of 49.34% and a net margin of 5.12%.The company had revenue of $230.62 million for the quarter, compared to the consensus estimate of $225.52 million. During the same quarter in the previous year, the business earned $0.37 EPS. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. Research analysts forecast that Astronics Corporation will post 2.23 EPS for the current fiscal year.

Astronics Company Profile

Astronics Corporation (NASDAQ: ATRO) is a global leader in the design and manufacture of advanced technologies primarily for the aerospace, defense and semiconductor industries. Headquartered in East Aurora, New York, the company was founded in 1968 and has grown through a combination of internal development and strategic acquisitions. Astronics operates multiple business units focused on power conversion, distribution and control; cabin electronics and connectivity; aircraft lighting and safety solutions; and automated test systems.

The company’s aerospace products include onboard power generation and management systems, in-flight entertainment and connectivity hardware, LED and fluorescent lighting for aircraft cabins and cockpits, and safety equipment such as escape slide power units.