Astronics (NASDAQ:ATRO) Stock Rating Upgraded by Wall Street Zen

Astronics (NASDAQ:ATRO) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

A number of other research firms have also weighed in on ATRO. Weiss Ratings lowered Astronics from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. KeyCorp began coverage on shares of Astronics in a report on Thursday, October 22nd. They issued a “sector weight” rating on the stock. TD Cowen restated a “buy” rating and issued a $90.00 price objective (down from $100.00) on shares of Astronics in a research report on Friday, October 9th. Finally, Zacks Research lowered shares of Astronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 7th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.58.

Astronics Price Performance

Shares of NASDAQ ATRO opened at $58.99 on Friday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.63 and a current ratio of 2.97. Astronics has a fifty-two week low of $38.13 and a fifty-two week high of $94.46. The stock has a market cap of $2.54 billion, a PE ratio of 25.83 and a beta of 1.37. The stock has a fifty day moving average of $65.63 and a 200-day moving average of $67.46.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings data on Tuesday, August 11th. The aerospace company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.11. Astronics had a return on equity of 67.69% and a net margin of 8.40%. The business had revenue of $259.96 million for the quarter, compared to analysts’ expectations of $245.30 million. The company’s revenue for the quarter was up 46.9% compared to the same quarter last year. Equities research analysts anticipate that Astronics will post 2.72 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ATRO. BlackRock Inc. bought a new position in shares of Astronics in the second quarter worth approximately $248,395,000. Emerald Advisers LLC lifted its position in Astronics by 85.0% during the first quarter. Emerald Advisers LLC now owns 449,126 shares of the aerospace company’s stock valued at $29,970,000 after purchasing an additional 206,399 shares during the last quarter. Renaissance Technologies LLC grew its stake in Astronics by 320.4% in the 1st quarter. Renaissance Technologies LLC now owns 222,920 shares of the aerospace company’s stock worth $14,875,000 after buying an additional 169,900 shares in the last quarter. Bank of America Corp DE purchased a new position in Astronics in the 2nd quarter worth approximately $13,223,000. Finally, Royce & Associates LP grew its stake in Astronics by 38.6% in the 3rd quarter. Royce & Associates LP now owns 545,101 shares of the aerospace company’s stock worth $36,751,000 after buying an additional 151,688 shares in the last quarter. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Astronics Company Profile

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.

Founded in 1968, Astronics is headquartered in East Aurora, New York.