Brokers Offer Predictions for Astronics Co.’s Q3 2019 Earnings (NASDAQ:ATRO)

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Astronics Co. (NASDAQ:ATRO) – Seaport Global Securities reduced their Q3 2019 EPS estimates for Astronics in a research report issued to clients and investors on Tuesday, October 15th. Seaport Global Securities analyst J. Sullivan now anticipates that the aerospace company will earn $0.25 per share for the quarter, down from their previous estimate of $0.33. Seaport Global Securities also issued estimates for Astronics’ Q4 2019 earnings at $0.40 EPS and FY2019 earnings at $1.33 EPS.

Astronics (NASDAQ:ATRO) last released its quarterly earnings results on Monday, August 5th. The aerospace company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.16). The firm had revenue of $189.10 million for the quarter, compared to analysts’ expectations of $188.80 million. Astronics had a net margin of 14.07% and a return on equity of 12.24%. The firm’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.49 EPS.

Several other research firms have also commented on ATRO. TheStreet lowered shares of Astronics from a “b-” rating to a “c+” rating in a research report on Monday, August 26th. SunTrust Banks dropped their target price on shares of Astronics to $26.00 and set a “sell” rating for the company in a report on Tuesday, August 6th. Zacks Investment Research upgraded shares of Astronics from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 8th. ValuEngine downgraded shares of Astronics from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th. Finally, Dougherty & Co reiterated a “buy” rating and issued a $40.00 target price (down previously from $46.00) on shares of Astronics in a report on Tuesday, August 6th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Astronics currently has an average rating of “Hold” and an average price target of $38.20.

ATRO stock opened at $29.89 on Wednesday. The firm has a market cap of $965.84 million, a PE ratio of 18.95, a PEG ratio of 2.07 and a beta of 1.42. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.77 and a current ratio of 2.97. The firm’s 50 day moving average price is $29.13 and its 200-day moving average price is $34.51. Astronics has a one year low of $25.85 and a one year high of $44.34.

In other Astronics news, VP Mark Peabody sold 2,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $35.78, for a total value of $71,560.00. Following the completion of the transaction, the vice president now owns 9,761 shares in the company, valued at $349,248.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO David C. Burney sold 4,000 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $26.20, for a total transaction of $104,800.00. Following the completion of the transaction, the chief financial officer now owns 33,434 shares of the company’s stock, valued at approximately $875,970.80. The disclosure for this sale can be found here. Insiders sold a total of 8,000 shares of company stock valued at $252,540 in the last quarter. 15.80% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC grew its stake in shares of Astronics by 346.1% in the second quarter. Cubist Systematic Strategies LLC now owns 63,415 shares of the aerospace company’s stock worth $2,551,000 after acquiring an additional 49,200 shares in the last quarter. New York State Teachers Retirement System acquired a new position in shares of Astronics in the second quarter worth $76,000. Bessemer Group Inc. acquired a new position in shares of Astronics in the second quarter worth $402,000. Ellington Management Group LLC acquired a new position in shares of Astronics in the second quarter worth $929,000. Finally, Bogle Investment Management L P DE acquired a new position in shares of Astronics in the second quarter worth $1,740,000. Institutional investors and hedge funds own 66.39% of the company’s stock.

Astronics Company Profile

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, electronics, and semiconductor industries worldwide. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems; electrical power generation, distribution, and motions systems; aircraft structures; avionics products; system certification; and connectivity and other products.

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Earnings History and Estimates for Astronics (NASDAQ:ATRO)

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