Astronics (NASDAQ:ATRO – Get Free Report) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.
A number of other brokerages have also recently issued reports on ATRO. Truist Financial raised shares of Astronics to a “strong-buy” rating in a report on Monday, May 4th. TD Cowen boosted their price target on Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 21st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a research note on Friday. Three analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Astronics currently has an average rating of “Buy” and a consensus price target of $74.17.
View Our Latest Stock Analysis on Astronics
Astronics Stock Performance
Astronics (NASDAQ:ATRO – Get Free Report) last posted its quarterly earnings results on Tuesday, May 12th. The aerospace company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. The firm had revenue of $230.62 million for the quarter, compared to analyst estimates of $225.52 million. Astronics had a return on equity of 49.34% and a net margin of 5.12%.The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.37 EPS. Analysts predict that Astronics will post 2.62 earnings per share for the current fiscal year.
Institutional Trading of Astronics
Several hedge funds have recently added to or reduced their stakes in the company. Quarry LP lifted its holdings in shares of Astronics by 33.6% during the fourth quarter. Quarry LP now owns 568 shares of the aerospace company’s stock worth $31,000 after buying an additional 143 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Astronics by 19.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,137 shares of the aerospace company’s stock valued at $62,000 after acquiring an additional 188 shares in the last quarter. Allworth Financial LP increased its position in Astronics by 57.1% during the fourth quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 192 shares during the period. US Bancorp DE increased its position in Astronics by 41.0% during the third quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock worth $44,000 after acquiring an additional 281 shares during the period. Finally, Hazlett Burt & Watson Inc. raised its stake in Astronics by 24.5% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 1,525 shares of the aerospace company’s stock worth $83,000 after purchasing an additional 300 shares in the last quarter. 56.68% of the stock is owned by institutional investors and hedge funds.
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.
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