Lisanti Capital Growth LLC Buys 20,196 Shares of Astronics Corporation $ATRO

Lisanti Capital Growth LLC increased its stake in shares of Astronics Corporation (NASDAQ:ATRO) by 164.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,476 shares of the aerospace company’s stock after buying an additional 20,196 shares during the quarter. Lisanti Capital Growth LLC’s holdings in Astronics were worth $2,190,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Astronics in the second quarter valued at $248,395,000. Dimensional Fund Advisors LP boosted its holdings in shares of Astronics by 5.3% during the first quarter. Dimensional Fund Advisors LP now owns 673,760 shares of the aerospace company’s stock valued at $44,951,000 after acquiring an additional 34,018 shares during the period. First Trust Advisors LP boosted its holdings in shares of Astronics by 4.1% during the first quarter. First Trust Advisors LP now owns 253,492 shares of the aerospace company’s stock valued at $16,916,000 after acquiring an additional 10,014 shares during the period. Renaissance Technologies LLC grew its position in shares of Astronics by 320.4% during the first quarter. Renaissance Technologies LLC now owns 222,920 shares of the aerospace company’s stock worth $14,875,000 after acquiring an additional 169,900 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of Astronics by 81.9% during the first quarter. Bank of America Corp DE now owns 199,722 shares of the aerospace company’s stock worth $13,327,000 after acquiring an additional 89,950 shares during the last quarter. 56.68% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Astronics

Investors following ATRO have been watching these headlines:

• Positive Sentiment: Third-quarter sales reached a record $271.7 million, and adjusted EPS of $0.81 topped the $0.72 analyst consensus. The company also reported stronger profitability and maintained an approximately $1 billion full-year revenue outlook. Astronics Q3 results
• Neutral Sentiment: TD Cowen lowered its price target from $90 to $80 but kept a Buy rating, signaling continued optimism while trimming its valuation outlook. TD Cowen rating information
• Negative Sentiment: Fourth-quarter revenue guidance of $255 million to $275 million includes a midpoint below the roughly $274 million consensus estimate. That cautious near-term outlook appears to be the main reason the strong quarterly results have not supported the shares. Report on Q4 guidance

Analysts Set New Price Targets

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

Astronics Stock Performance

ATRO opened at $60.33 on Thursday. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 23.60 and a beta of 1.37. 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 1-year low of $38.13 and a 1-year high of $94.46. The business has a 50 day moving average price of $65.14 and a two-hundred day moving average price of $67.44.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings results on Tuesday, November 10th. The aerospace company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.09. Astronics had a return on equity of 73.50% and a net margin of 14.21%. The firm had revenue of $271.68 million during the quarter, compared to analyst estimates of $267.97 million. During the same period last year, the company posted $0.49 EPS. The firm’s quarterly revenue was up 41.0% on a year-over-year basis. Research analysts predict that Astronics Corporation will post 2.72 EPS for the current fiscal year.

Astronics 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.