Astronics Corporation $ATRO Stock: Royce & Associates LP Boosts Stake

Royce & Associates LP increased its holdings in Astronics Corporation (NASDAQ:ATRO) by 38.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 545,101 shares of the aerospace company’s stock after buying an additional 151,688 shares during the period. Royce & Associates LP’s holdings in Astronics were worth $36,751,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ATRO. Russell Investments Group Ltd. grew its position in shares of Astronics by 202.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 102,370 shares of the aerospace company’s stock valued at $6,902,000 after buying an additional 68,522 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in Astronics during the third quarter worth about $127,000. Fifth Third Bancorp raised its stake in Astronics by 1,698.6% during the third quarter. Fifth Third Bancorp now owns 12,482 shares of the aerospace company’s stock worth $842,000 after acquiring an additional 11,788 shares during the period. Lisanti Capital Growth LLC lifted its holdings in Astronics by 164.5% in the third quarter. Lisanti Capital Growth LLC now owns 32,476 shares of the aerospace company’s stock worth $2,190,000 after acquiring an additional 20,196 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC bought a new position in Astronics in the third quarter worth about $1,254,000. Institutional investors own 56.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ATRO shares. TD Cowen decreased their target price on Astronics from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday. Zacks Research lowered Astronics from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. KeyCorp began coverage on Astronics in a research report on Thursday, October 22nd. They set a “sector weight” rating on the stock. Weiss Ratings downgraded Astronics from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Finally, Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 8th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Astronics has an average rating of “Moderate Buy” and an average target price of $84.58.

Astronics Stock Performance

Shares of ATRO stock traded down $1.35 during trading hours on Friday, reaching $58.96. The stock had a trading volume of 928,063 shares, compared to its average volume of 640,002. The company has a debt-to-equity ratio of 1.57, a current ratio of 2.97 and a quick ratio of 1.63. Astronics Corporation has a twelve month low of $38.13 and a twelve month high of $94.46. The firm has a 50-day simple moving average of $64.57 and a 200-day simple moving average of $67.39. The firm has a market capitalization of $2.54 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 0.96 and a beta of 1.37.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings data on Tuesday, November 10th. The aerospace company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.09. The firm had revenue of $271.68 million for the quarter, compared to the consensus estimate of $267.97 million. Astronics had a net margin of 14.21% and a return on equity of 73.50%. Astronics’s quarterly revenue was up 41.0% compared to the same quarter last year. During the same period last year, the firm posted $0.49 EPS. As a group, equities analysts forecast that Astronics Corporation will post 2.78 earnings per share for the current year.

About Astronics

Astronics Corporation designs and manufactures technologies for the aerospace, defense and other industries. Its aerospace products include aircraft lighting, electrical power generation and distribution systems, cabin electronics, connectivity solutions and avionics-related equipment used on commercial and military aircraft. The company also develops test systems, including automated equipment used to test aerospace and defense electronics. Astronics serves aircraft manufacturers, airlines, defense organizations and other customers, with products and services reaching markets around the world.