Astronics (NASDAQ:ATRO – Get Free Report) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday, Zacks reports.
A number of other research analysts also recently commented on ATRO. TD Cowen increased their price target on shares of Astronics from $70.83 to $83.33 and gave the company a “buy” rating in a report on Thursday, May 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research note on Friday, July 17th. Finally, Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Astronics currently has an average rating of “Moderate Buy” and an average price target of $74.17.
Read Our Latest Stock Report on Astronics
Astronics Stock Down 0.3%
Astronics (NASDAQ:ATRO – Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The aerospace company reported $0.70 earnings per share for the quarter, topping 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 company had revenue of $259.96 million for the quarter, compared to analysts’ expectations of $245.30 million. The business’s quarterly revenue was up 46.9% compared to the same quarter last year. As a group, equities analysts predict that Astronics will post 2.74 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. IFP Advisors Inc lifted its stake in shares of Astronics by 389.6% during the 3rd quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 448 shares during the last quarter. Allworth Financial LP increased its stake in Astronics by 57.1% in the fourth quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 192 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Astronics by 147.6% during the second quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock worth $30,000 after purchasing an additional 533 shares during the last quarter. Quarry LP lifted its position 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 purchasing an additional 143 shares during the last quarter. Finally, Leonteq Securities AG purchased a new stake in shares of Astronics during the fourth quarter valued at $33,000. Institutional investors own 56.68% of the company’s stock.
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.
Featured Articles
- Five stocks we like better than Astronics
- Tesla’s Robotaxi Launch Wasn’t the Moment Investors Expected
- Despite Post-Earnings Drop, Wall Street Analysts Eye New Highs for Broadcom Stock
- Morgan Stanley Eyes Good Things Ahead for Meta After $18 Billion Legal Settlement
- Q3 Earnings Could Be the Catalyst the Market Has Been Waiting For
Receive News & Ratings for Astronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Astronics and related companies with MarketBeat.com's FREE daily email newsletter.
