Astronics Corporation (NASDAQ:ATRO) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Astronics Corporation (NASDAQ:ATRO) have been assigned an average recommendation of “Moderate Buy” from the six research firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $89.00.

Several analysts have recently weighed in on ATRO shares. Zacks Research lowered shares of Astronics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Wall Street Zen lowered shares of Astronics from a “strong-buy” rating to a “buy” rating in a report on Saturday. Truist Financial raised shares of Astronics to a “strong-buy” rating in a report on Monday, May 4th. TD Cowen raised their price target on shares of Astronics from $85.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a report on Monday, April 20th.

Astronics Stock Performance

NASDAQ ATRO opened at $96.00 on Friday. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 81.36 and a beta of 1.15. The company has a 50 day moving average of $78.72 and a 200-day moving average of $70.82. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 2.07. Astronics has a 1-year low of $27.27 and a 1-year high of $99.89.

Astronics’s stock is going to split before the market opens on Monday, June 15th. The 6-5 split was recently announced. The newly created shares will be issued to shareholders after the closing bell on Sunday, June 14th.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.04. The company had revenue of $230.62 million during the quarter, compared to analyst estimates of $225.52 million. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The company’s revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the business posted $0.44 earnings per share. On average, equities analysts forecast that Astronics will post 2.68 earnings per share for the current fiscal year.

Institutional Trading of Astronics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allworth Financial LP increased 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 valued at $29,000 after purchasing an additional 192 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Astronics by 877.2% in the first quarter. Fifth Third Bancorp now owns 557 shares of the aerospace company’s stock valued at $37,000 after purchasing an additional 500 shares in the last quarter. Optiver Holding B.V. increased its holdings in shares of Astronics by 3,921.4% in the first quarter. Optiver Holding B.V. now owns 563 shares of the aerospace company’s stock valued at $38,000 after purchasing an additional 549 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Astronics by 389.6% in the third quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 448 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of Astronics by 33.6% in the fourth quarter. Quarry LP now owns 568 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 143 shares in the last quarter. Institutional investors and hedge funds own 56.68% of the company’s stock.

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.