SG Capital Management LLC Takes Position in Astronics Corporation $ATRO

SG Capital Management LLC purchased a new position in shares of Astronics Corporation (NASDAQ:ATRO) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 254,707 shares of the aerospace company’s stock, valued at approximately $11,617,000. SG Capital Management LLC owned approximately 0.72% of Astronics at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Astronics by 5.8% during the third quarter. Vanguard Group Inc. now owns 1,936,166 shares of the aerospace company’s stock worth $88,309,000 after purchasing an additional 105,311 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Astronics by 7.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 140,013 shares of the aerospace company’s stock valued at $6,386,000 after purchasing an additional 9,762 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Astronics by 166.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 752 shares of the aerospace company’s stock valued at $34,000 after purchasing an additional 470 shares during the period. State of Wyoming acquired a new stake in shares of Astronics in the 3rd quarter valued at about $191,000. Finally, Principal Financial Group Inc. purchased a new position in Astronics during the 3rd quarter worth approximately $2,204,000. 56.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Truist Financial set a $75.00 price objective on Astronics in a research note on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a report on Wednesday, January 21st. Wall Street Zen cut shares of Astronics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 7th. CJS Securities raised shares of Astronics to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Craig Hallum reaffirmed a “buy” rating on shares of Astronics in a report on Friday, January 9th. Two 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 stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $66.67.

Astronics Stock Performance

Shares of ATRO opened at $78.29 on Thursday. The stock has a market capitalization of $2.79 billion, a P/E ratio of -869.79 and a beta of 1.10. The company has a debt-to-equity ratio of 3.07, a quick ratio of 1.56 and a current ratio of 2.87. Astronics Corporation has a 1 year low of $18.54 and a 1 year high of $81.89. The company’s fifty day moving average is $66.86 and its two-hundred day moving average is $52.11.

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.