Vanguard Group Inc. boosted its holdings in Astronics Corporation (NASDAQ:ATRO – Free Report) by 2.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,975,693 shares of the aerospace company’s stock after acquiring an additional 39,527 shares during the quarter. Vanguard Group Inc. owned 0.06% of Astronics worth $107,162,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Nordea Investment Management AB acquired a new stake in Astronics in the 3rd quarter valued at $4,137,000. Capital International Investors bought a new position in Astronics during the 3rd quarter valued at $64,173,000. Principal Financial Group Inc. bought a new position in Astronics during the 3rd quarter valued at $2,204,000. Y Intercept Hong Kong Ltd lifted its stake in Astronics by 74.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 33,061 shares of the aerospace company’s stock valued at $1,508,000 after acquiring an additional 14,160 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Astronics by 58.6% during the 3rd quarter. American Century Companies Inc. now owns 539,006 shares of the aerospace company’s stock valued at $24,584,000 after acquiring an additional 199,059 shares in the last quarter. Institutional investors and hedge funds own 56.68% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. Truist Financial upgraded Astronics to a “strong-buy” rating in a research note on Monday, May 4th. Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. Zacks Research upgraded Astronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research note on Monday, April 20th. Three analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $77.33.
Key Stories Impacting Astronics
Here are the key news stories impacting Astronics this week:
- Positive Sentiment: Astronics beat Q1 expectations, posting adjusted EPS of $0.59 versus $0.55 expected and revenue of $230.6 million versus $225.5 million expected, reflecting continued demand in aerospace and improved profitability. Article Title
- Positive Sentiment: Quarterly revenue rose 12% year over year, with gross profit, operating profit, and net income all improving sharply, showing that margin expansion is still driving earnings growth. Article Title
- Neutral Sentiment: The company also raised second-quarter revenue guidance to $245 million-$250 million, above the consensus estimate, which could support investor confidence if execution remains strong.
- Negative Sentiment: Despite the beat, the stock fell in after-hours trading, suggesting investors may be reacting to valuation concerns, expectations for even stronger results, or softer details in the full report and call. Article Title
Astronics Stock Up 3.3%
Shares of NASDAQ ATRO opened at $78.26 on Wednesday. Astronics Corporation has a 12 month low of $27.27 and a 12 month high of $83.96. The company has a current ratio of 3.10, a quick ratio of 1.71 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 101.64 and a beta of 1.10. The business has a 50-day moving average of $72.16 and a 200-day moving average of $65.24.
Astronics (NASDAQ:ATRO – Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.55 by $0.04. Astronics had a return on equity of 39.95% and a net margin of 3.41%.The company had revenue of $230.62 million during the quarter, compared to analyst estimates of $225.52 million. During the same quarter in the previous year, the firm earned $0.44 earnings per share. Astronics’s revenue was up 12.0% on a year-over-year basis. Sell-side analysts expect that Astronics Corporation will post 2.62 earnings per share for the current fiscal year.
About Astronics
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.
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