According to Zacks, “Astronics Corporation is a manufacturer of specialized lighting and electronics for the cockpit, cabin and exteriors of military, commercial transport and private business jet aircraft. A major lighting and electronics supplier to the aircraft industry, its strategy is to expand from a components and subsystems supplier to an aircraft lighting systems integrator, increasing the value and content it provides to various aircraft platforms. Luminescent Systems Inc. is Astronics’ primary operating subsidiary which produces its aerospace and defense products. “
ATRO has been the topic of a number of other reports. Canaccord Genuity lifted their price target on shares of Astronics Corp. from $48.00 to $50.00 and gave the company a buy rating in a research report on Monday, September 26th. KeyCorp raised shares of Astronics Corp. from a sector weight rating to an overweight rating in a research report on Wednesday, June 29th.
Astronics Corp. (NASDAQ:ATRO) opened at 35.55 on Monday. Astronics Corp. has a one year low of $24.75 and a one year high of $48.00. The stock has a 50 day moving average of $42.84 and a 200 day moving average of $38.59. The firm has a market cap of $1.03 billion, a PE ratio of 16.56 and a beta of 1.18.
Astronics Corp. (NASDAQ:ATRO) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.09. The firm had revenue of $164.40 million for the quarter, compared to analysts’ expectations of $162.17 million. Astronics Corp. had a net margin of 9.55% and a return on equity of 21.44%. Astronics Corp.’s revenue was down 5.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.77 earnings per share. On average, equities analysts forecast that Astronics Corp. will post $2.21 earnings per share for the current year.
In other news, Director John B. Drenning sold 5,000 shares of Astronics Corp. stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $43.47, for a total transaction of $217,350.00. Following the sale, the director now owns 52,039 shares in the company, valued at $2,262,135.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 16.03% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. HighTower Advisors LLC raised its stake in Astronics Corp. by 1.3% in the second quarter. HighTower Advisors LLC now owns 7,281 shares of the company’s stock worth $242,000 after buying an additional 90 shares in the last quarter. Connors Investor Services Inc. raised its stake in Astronics Corp. by 0.3% in the second quarter. Connors Investor Services Inc. now owns 54,297 shares of the company’s stock worth $1,806,000 after buying an additional 141 shares in the last quarter. 1st Global Advisors Inc. raised its stake in Astronics Corp. by 1.4% in the second quarter. 1st Global Advisors Inc. now owns 16,237 shares of the company’s stock worth $540,000 after buying an additional 228 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Astronics Corp. by 25.3% in the third quarter. BNP Paribas Arbitrage SA now owns 3,581 shares of the company’s stock worth $161,000 after buying an additional 723 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Astronics Corp. by 33.7% in the first quarter. Legal & General Group Plc now owns 3,252 shares of the company’s stock worth $123,000 after buying an additional 819 shares in the last quarter. Institutional investors own 65.80% of the company’s stock.
Astronics Corp. Company Profile
Astronics Corporation is a supplier of products to the aerospace, defense, electronics and semiconductor industries. The Company’s products and services include electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems.
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