Astronics (NASDAQ:ATRO) Cut to “Buy” at Wall Street Zen

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

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

Astronics Price Performance

ATRO stock opened at $49.59 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.63 and a current ratio of 3.04. The business has a 50-day simple moving average of $46.51 and a two-hundred day simple moving average of $37.93. The company has a market capitalization of $1.77 billion, a P/E ratio of -413.22 and a beta of 1.63. Astronics has a 52-week low of $14.13 and a 52-week high of $53.42.

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

Insider Buying and Selling at Astronics

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

Institutional Trading of Astronics

Several hedge funds have recently made changes to their positions in ATRO. Advisory Services Network LLC bought a new position in shares of Astronics during the 3rd quarter worth $58,000. NewEdge Advisors LLC raised its stake in Astronics by 94.6% in the 3rd quarter. NewEdge Advisors LLC now owns 19,207 shares of the aerospace company’s stock valued at $876,000 after acquiring an additional 9,336 shares during the period. Caxton Associates LLP lifted its holdings in Astronics by 12.0% during the third quarter. Caxton Associates LLP now owns 53,247 shares of the aerospace company’s stock valued at $2,429,000 after purchasing an additional 5,716 shares during the last quarter. Voloridge Investment Management LLC boosted its position in Astronics by 83.2% during the third quarter. Voloridge Investment Management LLC now owns 180,954 shares of the aerospace company’s stock worth $8,253,000 after purchasing an additional 82,187 shares during the period. Finally, Private Capital Management LLC lifted its stake in shares of Astronics by 39.4% during the 3rd quarter. Private Capital Management LLC now owns 561,257 shares of the aerospace company’s stock valued at $25,599,000 after buying an additional 158,714 shares in the last quarter. 56.68% of the stock is currently owned by institutional investors.

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.