5,962 Shares in Astronics Corporation $ATRO Purchased by Empirical Asset Management LLC

Empirical Asset Management LLC acquired a new position in shares of Astronics Corporation (NASDAQ:ATRO) during the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 5,962 shares of the aerospace company’s stock, valued at approximately $484,000.

Other hedge funds also recently bought and sold shares of the company. Allworth Financial LP boosted its holdings in shares of Astronics by 57.1% in 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. Fifth Third Bancorp raised its holdings in shares of Astronics by 877.2% during the first quarter. Fifth Third Bancorp now owns 557 shares of the aerospace company’s stock valued at $37,000 after acquiring an additional 500 shares during the period. Optiver Holding B.V. lifted its position in shares of Astronics by 3,921.4% in the 1st quarter. Optiver Holding B.V. now owns 563 shares of the aerospace company’s stock valued at $38,000 after acquiring an additional 549 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Astronics by 389.6% in the 3rd quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 448 shares in the last quarter. Finally, Quarry LP boosted its stake 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 purchasing an additional 143 shares during the period. 56.68% of the stock is owned by hedge funds and other institutional investors.

Astronics Price Performance

ATRO opened at $86.12 on Wednesday. The stock has a fifty day moving average price of $76.06 and a 200 day moving average price of $67.72. 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 Corporation has a 1 year low of $27.89 and a 1 year high of $94.46. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 50.66 and a beta of 1.15.

Astronics (NASDAQ:ATRO) last issued its earnings results on Tuesday, August 11th. The aerospace company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.11. Astronics had a return on equity of 67.69% and a net margin of 8.40%.The company had revenue of $259.96 million for the quarter, compared to analyst estimates of $245.30 million. Astronics’s revenue was up 46.9% on a year-over-year basis. Analysts forecast that Astronics Corporation will post 2.55 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on ATRO shares. Zacks Research upgraded shares of Astronics from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a report on Friday, July 17th. TD Cowen upped their price target on Astronics from $70.83 to $83.33 and gave the company a “buy” rating in a research report on Thursday, May 28th. Finally, Truist Financial raised Astronics to a “strong-buy” rating in a research note on Monday, May 4th. Three investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $74.17.

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.