Lisanti Capital Growth LLC Takes $998,000 Position in Astronics Corporation $ATRO

Lisanti Capital Growth LLC bought a new position in shares of Astronics Corporation (NASDAQ:ATRO) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 12,280 shares of the aerospace company’s stock, valued at approximately $998,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. IFP Advisors Inc increased its holdings in shares of Astronics by 389.6% during the 3rd quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 448 shares during the last quarter. Allworth Financial LP lifted its holdings in Astronics by 57.1% during the 4th quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 192 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Astronics by 147.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock valued at $30,000 after purchasing an additional 533 shares during the last quarter. Quarry LP boosted its position in Astronics by 33.6% during the fourth 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. Finally, Leonteq Securities AG bought a new position in Astronics during the fourth quarter worth $33,000. 56.68% of the stock is currently owned by institutional investors.

Astronics Stock Performance

NASDAQ:ATRO opened at $81.67 on Thursday. The stock has a fifty day moving average price of $76.32 and a 200-day moving average price of $67.84. The company has a market cap of $3.51 billion, a price-to-earnings ratio of 48.04 and a beta of 1.15. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.63 and a current ratio of 2.97. Astronics Corporation has a fifty-two week low of $27.89 and a fifty-two week high of $94.46.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings results on Tuesday, August 11th. The aerospace company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.11. The company had revenue of $259.96 million for the quarter, compared to analysts’ expectations of $245.30 million. Astronics had a return on equity of 67.69% and a net margin of 8.40%.The company’s revenue was up 46.9% compared to the same quarter last year. As a group, equities analysts anticipate that Astronics Corporation will post 2.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Astronics 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.