Astronics Corporation (NASDAQ:ATRO) Receives Average Recommendation of “Buy” from Analysts

Shares of Astronics Corporation (NASDAQ:ATRO) have received an average rating of “Buy” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $66.6667.

A number of equities research analysts have recently weighed in on the stock. Craig Hallum reissued a “buy” rating 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. Wall Street Zen lowered Astronics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 7th. TD Cowen initiated coverage on Astronics in a report on Wednesday, November 26th. They set a “buy” rating for the company. Finally, CJS Securities upgraded shares of Astronics to a “strong-buy” rating in a report on Thursday, December 11th.

Astronics Stock Up 1.4%

ATRO stock opened at $76.94 on Monday. The stock has a market capitalization of $2.74 billion, a PE ratio of -854.79 and a beta of 1.09. Astronics has a 52 week low of $18.28 and a 52 week high of $81.89. The company has a quick ratio of 1.56, a current ratio of 2.87 and a debt-to-equity ratio of 3.07. The firm has a 50 day moving average of $65.36 and a 200 day moving average of $51.33.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ATRO. IFP Advisors Inc grew its position in 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 purchasing an additional 448 shares during the period. Allworth Financial LP grew its holdings in Astronics by 57.1% during the fourth quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 192 shares during the period. EverSource Wealth Advisors LLC raised its position in Astronics by 147.6% during the second quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock valued at $30,000 after acquiring an additional 533 shares in the last quarter. Quarry LP raised its position in Astronics by 33.6% during the fourth quarter. Quarry LP now owns 568 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 143 shares in the last quarter. Finally, Leonteq Securities AG acquired a new position in Astronics in the fourth quarter valued at approximately $33,000. 56.68% of the stock is currently owned by institutional investors and hedge funds.

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.