Astronics (NASDAQ:ATRO) Upgraded to “Hold” at KeyCorp

KeyCorp upgraded shares of Astronics (NASDAQ:ATRO) to a hold rating in a report published on Thursday morning,Zacks reports.

A number of other equities research analysts also recently weighed in on the company. Zacks Research downgraded Astronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 7th. TD Cowen reiterated a “buy” rating and issued a $90.00 price objective (down from $100.00) on shares of Astronics in a report on Friday, October 9th. Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. Finally, Weiss Ratings lowered Astronics from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Astronics currently has an average rating of “Moderate Buy” and an average target price of $89.58.

Astronics Stock Down 4.2%

ATRO stock opened at $59.20 on Thursday. The company’s 50 day moving average is $70.80 and its 200 day moving average is $70.47. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 34.82 and a beta of 1.25. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 1.57. Astronics has a 1-year low of $34.58 and a 1-year high of $94.46.

Astronics (NASDAQ:ATRO) last announced its earnings results on Tuesday, August 11th. The aerospace company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.11. Astronics had a net margin of 8.40% and a return on equity of 67.69%. The business had revenue of $259.96 million during the quarter, compared to analyst estimates of $245.30 million. Astronics’s revenue was up 46.9% on a year-over-year basis. Sell-side analysts predict that Astronics will post 2.72 EPS for the current fiscal year.

Institutional Trading of Astronics

Hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC grew its stake in shares of Astronics by 26.6% during the third quarter. Farther Finance Advisors LLC now owns 857 shares of the aerospace company’s stock valued at $58,000 after buying an additional 180 shares during the last quarter. Nykredit A S purchased a new position in shares of Astronics in the second quarter worth about $40,000. Fifth Third Bancorp increased its holdings in shares of Astronics by 877.2% in the first quarter. Fifth Third Bancorp now owns 557 shares of the aerospace company’s stock worth $37,000 after buying an additional 500 shares during the period. Petra Financial Advisors Inc. increased its holdings in shares of Astronics by 5.3% in the first quarter. Petra Financial Advisors Inc. now owns 10,311 shares of the aerospace company’s stock worth $688,000 after buying an additional 519 shares during the period. Finally, Optiver Holding B.V. lifted its stake in shares of Astronics by 3,921.4% in the 1st quarter. Optiver Holding B.V. now owns 563 shares of the aerospace company’s stock valued at $38,000 after acquiring an additional 549 shares during the last quarter. 56.68% of the stock is owned by institutional investors.

About Astronics

Astronics Corporation is a aerospace and defense company that designs and manufactures advanced technologies for commercial, military and business aircraft. Its products and systems are used by original equipment manufacturers, airlines, aircraft operators and defense contractors.

The company’s offerings include aircraft electrical power systems, lighting and cabin-management systems, connectivity and inflight entertainment equipment, avionics and specialized aerospace components. Astronics also develops automated test systems and related equipment used to test and support electronic systems in the aerospace, defense and other high-technology industries.

Founded in 1968 and headquartered in East Aurora, New York, Astronics serves customers in the United States and international markets through its manufacturing and engineering operations.