Astronics (NASDAQ:ATRO) Cut to “Buy” at Wall Street Zen

Wall Street Zen cut shares of Astronics (NASDAQ:ATRO) from a strong-buy rating to a buy rating in a report released on Saturday.

A number of other brokerages have also issued reports on ATRO. Zacks Research raised shares of Astronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Truist Financial set a $75.00 target price on shares of Astronics in a report on Friday, January 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a research note on Wednesday, January 21st. TD Cowen started coverage on shares of Astronics in a report on Wednesday, November 26th. They set a “buy” rating for the company. Finally, CJS Securities upgraded Astronics to a “strong-buy” rating in a report on Thursday, December 11th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $66.67.

Astronics Trading Up 1.5%

Shares of Astronics stock opened at $77.72 on Friday. The company has a debt-to-equity ratio of 3.07, a current ratio of 2.87 and a quick ratio of 1.56. The stock’s 50 day simple moving average is $63.45 and its 200-day simple moving average is $50.18. The stock has a market cap of $2.77 billion, a P/E ratio of -863.46 and a beta of 1.09. Astronics has a 1-year low of $18.28 and a 1-year high of $81.89.

Institutional Trading of Astronics

Several institutional investors have recently added to or reduced their stakes in the stock. Capital International Investors purchased a new stake in Astronics in the third quarter valued at approximately $64,173,000. Luxor Capital Group LP purchased a new stake in shares of Astronics in the 3rd quarter valued at $52,698,000. Millennium Management LLC raised its holdings in shares of Astronics by 80.1% in the 1st quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock valued at $18,054,000 after buying an additional 332,133 shares during the period. American Century Companies Inc. lifted its stake in Astronics by 659.8% during the 2nd quarter. American Century Companies Inc. now owns 339,947 shares of the aerospace company’s stock worth $11,381,000 after acquiring an additional 295,208 shares in the last quarter. Finally, SG Capital Management LLC purchased a new position in Astronics during the 3rd quarter valued at about $11,617,000. 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.