Astronics (NASDAQ:ATRO) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Astronics (NASDAQ:ATRO) from a hold rating to a strong-buy rating in a research report report published on Tuesday morning,Zacks.com reports.

ATRO has been the topic of several other reports. Craig Hallum reaffirmed a “buy” rating on shares of Astronics in a report on Friday, January 9th. Wall Street Zen raised shares of Astronics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 10th. Truist Financial set a $75.00 price target on shares of Astronics in a report on Friday, January 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a research note on Wednesday, January 21st. Finally, TD Cowen began coverage on Astronics in a research report on Wednesday, November 26th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $66.67.

Astronics Price Performance

Shares of ATRO stock opened at $74.37 on Tuesday. The business has a fifty day simple moving average of $62.14 and a 200 day simple moving average of $49.20. The company has a market cap of $2.65 billion, a P/E ratio of -826.24 and a beta of 1.10. The company has a quick ratio of 1.56, a current ratio of 2.87 and a debt-to-equity ratio of 3.07. Astronics has a twelve month low of $18.28 and a twelve month high of $81.89.

Astronics (NASDAQ:ATRO) last released its earnings results on Tuesday, November 4th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07. The firm had revenue of $211.45 million for the quarter, compared to analysts’ expectations of $210.80 million. Astronics had a positive return on equity of 29.65% and a negative net margin of 0.37%. On average, sell-side analysts forecast that Astronics will post 0.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Astronics

Institutional investors have recently made changes to their positions in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in shares of Astronics by 47.4% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 25,650 shares of the aerospace company’s stock valued at $1,391,000 after buying an additional 8,250 shares during the period. Versor Investments LP bought a new stake in Astronics in the fourth quarter valued at approximately $353,000. Pier 88 Investment Partners LLC increased its position in Astronics by 20.1% during the 4th quarter. Pier 88 Investment Partners LLC now owns 17,330 shares of the aerospace company’s stock valued at $940,000 after purchasing an additional 2,900 shares during the period. New York State Teachers Retirement System acquired a new stake in Astronics during the 4th quarter valued at approximately $150,000. Finally, Pictet Asset Management Holding SA bought a new position in Astronics during the 4th quarter worth approximately $231,000. Institutional investors own 56.68% of the company’s stock.

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.