Emerald Mutual Fund Advisers Trust Purchases 122,440 Shares of Astronics Corporation $ATRO

Emerald Mutual Fund Advisers Trust boosted its position in Astronics Corporation (NASDAQ:ATRO) by 78.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 279,159 shares of the aerospace company’s stock after purchasing an additional 122,440 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in Astronics were worth $18,628,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Luxor Capital Group LP purchased a new position in shares of Astronics during the 3rd quarter valued at $52,698,000. Capital International Investors raised its position in shares of Astronics by 31.5% in the fourth quarter. Capital International Investors now owns 1,849,886 shares of the aerospace company’s stock worth $100,338,000 after buying an additional 442,886 shares in the last quarter. State Street Corp raised its position in shares of Astronics by 26.2% in the fourth quarter. State Street Corp now owns 1,832,179 shares of the aerospace company’s stock worth $99,377,000 after buying an additional 379,811 shares in the last quarter. Congruence Capital LLC bought a new stake in Astronics during the fourth quarter valued at $19,658,000. Finally, Millennium Management LLC boosted its stake in Astronics by 80.1% during the first 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. 56.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ATRO shares. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research report on Monday, April 20th. TD Cowen lifted their price target on Astronics from $70.83 to $83.33 and gave the company a “buy” rating in a research report on Thursday, May 28th. Wall Street Zen upgraded shares of Astronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 21st. Zacks Research cut shares of Astronics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Finally, Truist Financial raised shares of Astronics to a “strong-buy” rating in a research note on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $74.17.

Astronics Stock Down 0.6%

Shares of NASDAQ:ATRO opened at $72.03 on Tuesday. The firm has a market capitalization of $3.10 billion, a PE ratio of 73.25 and a beta of 1.13. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.63 and a current ratio of 2.97. Astronics Corporation has a 52-week low of $22.73 and a 52-week high of $88.72. The firm has a fifty day moving average of $72.54 and a 200 day moving average of $64.05.

Astronics (NASDAQ:ATRO) last released its quarterly earnings results on Tuesday, May 12th. The aerospace company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Astronics had a return on equity of 49.34% and a net margin of 5.12%.The business had revenue of $230.62 million for the quarter, compared to the consensus estimate of $225.52 million. During the same quarter last year, the business posted $0.37 earnings per share. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, research analysts anticipate that Astronics Corporation will post 2.38 EPS for the current fiscal year.

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.