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

Astronics Corporation (NASDAQ:ATRO) has received an average recommendation of “Buy” from the six analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $74.1667.

A number of research analysts have recently commented on ATRO shares. Zacks Research upgraded Astronics from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. Truist Financial upgraded Astronics to a “strong-buy” rating in a research note on Monday, May 4th. TD Cowen increased their price target on shares of Astronics from $70.83 to $83.33 and gave the company a “buy” rating in a research note on Thursday, May 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a report on Friday, July 17th. Finally, Wall Street Zen upgraded shares of Astronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th.

Astronics Stock Performance

Shares of ATRO stock opened at $77.99 on Friday. The company has a market cap of $3.35 billion, a P/E ratio of 45.88 and a beta of 1.15. The firm has a fifty day moving average price of $76.08 and a 200 day moving average price of $68.39. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 1.57. Astronics has a 12 month low of $29.65 and a 12 month high of $94.46.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings results on Tuesday, August 11th. The aerospace company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.11. The company had revenue of $259.96 million for the quarter, compared to analysts’ expectations of $245.30 million. Astronics had a return on equity of 67.69% and a net margin of 8.40%.The firm’s quarterly revenue was up 46.9% on a year-over-year basis. Sell-side analysts predict that Astronics will post 2.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Astronics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in Astronics in the second quarter valued at $248,395,000. California State Teachers Retirement System grew its holdings in shares of Astronics by 7,794.4% during the second quarter. California State Teachers Retirement System now owns 2,720,422 shares of the aerospace company’s stock worth $221,061,000 after purchasing an additional 2,685,962 shares during the last quarter. Capital International Investors increased its position in shares of Astronics by 31.5% during the fourth quarter. Capital International Investors now owns 1,849,886 shares of the aerospace company’s stock worth $100,338,000 after purchasing an additional 442,886 shares in the last quarter. State Street Corp lifted its holdings in shares of Astronics by 26.2% in the 4th quarter. State Street Corp now owns 1,832,179 shares of the aerospace company’s stock valued at $99,377,000 after purchasing an additional 379,811 shares during the last quarter. Finally, Congruence Capital LLC purchased a new stake in shares of Astronics in the 4th quarter valued at about $19,658,000. 56.68% of the stock is owned by hedge funds and other institutional investors.

About Astronics

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.