Ieq Capital LLC Invests $1.64 Million in Astronics Corporation $ATRO

Ieq Capital LLC acquired 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 (SEC). The firm acquired 20,190 shares of the aerospace company’s stock, valued at approximately $1,641,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Allworth Financial LP acquired a new position in Astronics in the 2nd quarter worth about $46,000. Lisanti Capital Growth LLC bought a new stake in shares of Astronics in the 2nd quarter valued at approximately $998,000. Empirical Asset Management LLC bought a new stake in shares of Astronics in the 2nd quarter valued at approximately $484,000. Comprehensive Financial Planning Inc. PA acquired a new position in Astronics in the second quarter worth approximately $451,000. Finally, Meeder Asset Management Inc. acquired a new position in Astronics in the second quarter worth approximately $62,000. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Astronics Trading Down 0.3%

Shares of ATRO stock opened at $74.50 on Wednesday. Astronics Corporation has a 12 month low of $29.65 and a 12 month high of $94.46. The company has a quick ratio of 1.63, a current ratio of 2.97 and a debt-to-equity ratio of 1.57. The business’s 50 day moving average is $76.18 and its two-hundred day moving average is $68.17. The company has a market cap of $3.20 billion, a PE ratio of 43.82 and a beta of 1.15.

Astronics (NASDAQ:ATRO) last released its quarterly earnings results on Tuesday, August 11th. The aerospace company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.11. The company had revenue of $259.96 million for the quarter, compared to analyst estimates of $245.30 million. Astronics had a net margin of 8.40% and a return on equity of 67.69%. The business’s quarterly revenue was up 46.9% on a year-over-year basis. Equities analysts predict that Astronics Corporation will post 2.74 EPS for the current year.

Analyst Upgrades and Downgrades

ATRO has been the subject of a number of analyst reports. Truist Financial upgraded shares of Astronics to a “strong-buy” rating in a research note on Monday, May 4th. Wall Street Zen upgraded shares of Astronics from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. TD Cowen lifted their price objective 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. Zacks Research upgraded shares of Astronics from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. Finally, Weiss Ratings reissued 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 given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target 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.