Astronics (NASDAQ:ATRO) Price Target Raised to $107.00

Astronics (NASDAQ:ATRO) had its target price lifted by equities research analysts at Truist Financial from $75.00 to $107.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the aerospace company’s stock. Truist Financial’s price target points to a potential upside of 42.69% from the stock’s previous close.

Several other analysts also recently commented on the stock. Wall Street Zen downgraded shares of Astronics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 7th. Zacks Research upgraded shares of Astronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. TD Cowen assumed coverage on shares of Astronics in a research report on Wednesday, November 26th. They set a “buy” rating on the stock. Craig Hallum restated a “buy” rating on shares of Astronics in a research note on Friday, January 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $77.33.

Astronics Trading Down 5.5%

ATRO stock traded down $4.40 during trading on Wednesday, hitting $74.99. The company had a trading volume of 805,537 shares, compared to its average volume of 756,355. The stock has a market cap of $2.67 billion, a PE ratio of -833.96 and a beta of 1.10. The business has a 50-day moving average of $68.84 and a 200-day moving average of $53.50. The company has a current ratio of 2.87, a quick ratio of 1.56 and a debt-to-equity ratio of 3.07. Astronics has a one year low of $19.51 and a one year high of $81.89.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Tuesday, February 24th. The aerospace company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.12. Astronics had a negative net margin of 0.37% and a positive return on equity of 29.65%. The company had revenue of $240.07 million for the quarter, compared to analyst estimates of $237.11 million. During the same period in the prior year, the firm posted $0.46 EPS. The company’s quarterly revenue was up 15.1% on a year-over-year basis. Research analysts predict that Astronics will post 0.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Virtu Financial LLC purchased a new stake in shares of Astronics during the fourth quarter worth $342,000. Invesco Ltd. raised its stake in shares of Astronics by 63.0% during the 4th quarter. Invesco Ltd. now owns 205,672 shares of the aerospace company’s stock valued at $11,156,000 after purchasing an additional 79,469 shares during the period. Corient Private Wealth LLC bought a new stake in shares of Astronics during the 4th quarter valued at $568,000. Mercer Global Advisors Inc. ADV purchased a new stake in Astronics during the 4th quarter worth about $282,000. Finally, SkyView Investment Advisors LLC bought a new position in Astronics in the 4th quarter worth about $217,000. 56.68% of the stock is currently owned by hedge funds and other institutional investors.

About Astronics

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.