Astronics Corporation (NASDAQ:ATRO) Receives Consensus Recommendation of “Buy” from Brokerages

Astronics Corporation (NASDAQ:ATRO) has been assigned a consensus rating of “Buy” from the six ratings firms that are presently covering the company, Marketbeat.com reports. One investment 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 objective among brokers that have issued a report on the stock in the last year is $77.3333.

Several research analysts have recently commented on ATRO shares. Wall Street Zen raised shares of Astronics from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a report on Wednesday, January 21st. Zacks Research upgraded Astronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Craig Hallum reaffirmed a “buy” rating on shares of Astronics in a report on Friday, January 9th. Finally, Truist Financial increased their price target on Astronics from $75.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th.

Astronics Stock Performance

Shares of ATRO opened at $67.85 on Friday. The business’s fifty day moving average price is $74.11 and its 200 day moving average price is $56.75. Astronics has a 12-month low of $19.89 and a 12-month high of $83.96. The stock has a market capitalization of $2.42 billion, a PE ratio of 88.12 and a beta of 1.06. The company has a debt-to-equity ratio of 2.39, a current ratio of 3.10 and a quick ratio of 1.71.

Astronics (NASDAQ:ATRO) last released its earnings results on Tuesday, February 24th. The aerospace company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.12. The firm had revenue of $240.07 million during the quarter, compared to analyst estimates of $237.11 million. Astronics had a net margin of 3.41% and a return on equity of 39.95%. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.46 earnings per share. Equities research analysts forecast that Astronics will post 0.82 EPS for the current year.

Institutional Investors Weigh In On Astronics

Several large investors have recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its stake in Astronics by 57.1% in the fourth quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock valued at $29,000 after buying an additional 192 shares during the last quarter. IFP Advisors Inc grew its position in shares of Astronics by 389.6% during the third quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 448 shares during the last quarter. Quarry LP increased its holdings in shares of Astronics by 33.6% in the 4th quarter. Quarry LP now owns 568 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 143 shares during the period. Leonteq Securities AG acquired a new stake in shares of Astronics in the 4th quarter worth about $33,000. Finally, Jones Financial Companies Lllp lifted its position in 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 last quarter. 56.68% of the stock is owned by institutional investors and hedge funds.

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.