144,186 Shares in Astronics Corporation $ATRO Purchased by Nicholas Investment Partners LP

Nicholas Investment Partners LP acquired a new position in Astronics Corporation (NASDAQ:ATRO) in the 2nd quarter, Holdings Channel reports. The firm acquired 144,186 shares of the aerospace company’s stock, valued at approximately $11,717,000.

Other large investors have also bought and sold shares of the company. Quarry LP grew its holdings in shares of Astronics by 33.6% during the 4th quarter. Quarry LP now owns 568 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 143 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Astronics by 19.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,137 shares of the aerospace company’s stock valued at $62,000 after purchasing an additional 188 shares in the last quarter. Allworth Financial LP boosted its position in shares of Astronics by 57.1% during 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. US Bancorp DE grew its stake in Astronics by 41.0% in the third quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock worth $44,000 after purchasing an additional 281 shares during the period. Finally, Hazlett Burt & Watson Inc. grew its stake in Astronics by 24.5% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 1,525 shares of the aerospace company’s stock worth $83,000 after purchasing an additional 300 shares during the period. 56.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Truist Financial raised Astronics to a “strong-buy” rating in a research report on Monday, May 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a research report on Friday, July 17th. TD Cowen upped their price objective on shares of Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a report on Thursday, May 28th. Zacks Research upgraded shares of Astronics from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. Finally, Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Three investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $74.17.

Astronics Price Performance

ATRO opened at $74.75 on Tuesday. The firm has a market cap of $3.21 billion, a PE ratio of 43.97 and a beta of 1.15. The stock has a 50-day moving average price of $76.20 and a 200-day moving average price of $68.08. Astronics Corporation has a 1 year low of $29.65 and a 1 year high of $94.46. The company has a debt-to-equity ratio of 1.57, a current ratio of 2.97 and a quick ratio of 1.63.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings data on Tuesday, August 11th. The aerospace company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.59 by $0.11. The company had revenue of $259.96 million for the quarter, compared to the consensus estimate of $245.30 million. Astronics had a net margin of 8.40% and a return on equity of 67.69%. The firm’s revenue for the quarter was up 46.9% compared to the same quarter last year. Sell-side analysts predict that Astronics Corporation will post 2.74 earnings per share for the current fiscal year.

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.