Astronics (NASDAQ:ATRO) Upgraded by Wall Street Zen to “Strong-Buy” Rating

Wall Street Zen upgraded shares of Astronics (NASDAQ:ATRO) from a buy rating to a strong-buy rating in a report published on Monday.

A number of other analysts have also issued reports on the stock. Truist Financial increased their price target on shares of Astronics from $49.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Zacks Research raised Astronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a report on Wednesday, October 8th. Finally, Craig Hallum began coverage on shares of Astronics in a research note on Friday, October 10th. They issued a “buy” rating and a $60.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $59.00.

Astronics Stock Up 6.3%

Astronics stock opened at $50.47 on Monday. Astronics has a 52 week low of $14.13 and a 52 week high of $53.42. The company has a current ratio of 3.04, a quick ratio of 1.63 and a debt-to-equity ratio of 0.59. The company’s 50-day moving average price is $47.12 and its two-hundred day moving average price is $38.59. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of -420.55 and a beta of 1.63.

Astronics (NASDAQ:ATRO) last released its earnings results on Tuesday, November 4th. The aerospace company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.42 by $0.07. The business had revenue of $211.45 million during the quarter, compared to analyst estimates of $210.80 million. Astronics had a negative net margin of 0.45% and a positive return on equity of 22.89%. Astronics has set its FY 2025 guidance at EPS. On average, analysts expect that Astronics will post 0.82 EPS for the current fiscal year.

Insider Buying and Selling

In other Astronics news, insider James Mulato sold 1,129 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $38.16, for a total value of $43,082.64. Following the completion of the sale, the insider directly owned 1,066 shares of the company’s stock, valued at $40,678.56. This represents a 51.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.39% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Astronics

Several hedge funds have recently made changes to their positions in ATRO. EverSource Wealth Advisors LLC increased its stake in Astronics by 147.6% during the second quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock valued at $30,000 after acquiring an additional 533 shares during the period. Jones Financial Companies Lllp increased its position in shares of Astronics by 166.7% during the third 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. US Bancorp DE increased its position in shares of Astronics by 41.0% during the third quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock valued at $44,000 after purchasing an additional 281 shares during the period. Covestor Ltd raised its stake in shares of Astronics by 25.4% in the third quarter. Covestor Ltd now owns 1,068 shares of the aerospace company’s stock valued at $49,000 after purchasing an additional 216 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its position in Astronics by 250.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,225 shares of the aerospace company’s stock worth $56,000 after purchasing an additional 875 shares during the period. Institutional investors own 56.68% of the company’s stock.

Astronics Company Profile

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.