Astronics Corporation (NASDAQ:ATRO – Get Free Report) has been given an average recommendation of “Buy” by the six analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a buy rating and three have assigned a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $74.1667.
Several brokerages have recently issued reports on ATRO. Wall Street Zen raised shares of Astronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Zacks Research upgraded shares of Astronics from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research note on Friday, July 17th. Truist Financial upgraded shares of Astronics to a “strong-buy” rating in a report on Monday, May 4th. Finally, TD Cowen raised their price target on shares of Astronics from $70.83 to $83.33 and gave the company a “buy” rating in a research report on Thursday, May 28th.
Read Our Latest Analysis on ATRO
Astronics Stock Up 0.6%
Astronics (NASDAQ:ATRO – Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The aerospace company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.11. Astronics had a return on equity of 67.69% and a net margin of 8.40%.The company had revenue of $259.96 million for the quarter, compared to analysts’ expectations of $245.30 million. The firm’s revenue for the quarter was up 46.9% compared to the same quarter last year. Research analysts expect that Astronics will post 2.74 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of ATRO. BlackRock Inc. purchased a new stake in Astronics during the 2nd quarter worth about $248,395,000. California State Teachers Retirement System boosted its stake in shares of Astronics by 7,794.4% in the 2nd quarter. California State Teachers Retirement System now owns 2,720,422 shares of the aerospace company’s stock valued at $221,061,000 after buying an additional 2,685,962 shares during the period. Vanguard Group Inc. boosted its stake in shares of Astronics by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 1,975,693 shares of the aerospace company’s stock valued at $107,162,000 after buying an additional 39,527 shares during the period. Capital International Investors grew its position in shares of Astronics by 31.5% during the fourth quarter. Capital International Investors now owns 1,849,886 shares of the aerospace company’s stock worth $100,338,000 after buying an additional 442,886 shares in the last quarter. Finally, State Street Corp grew its position in shares of Astronics by 26.2% during the fourth quarter. State Street Corp now owns 1,832,179 shares of the aerospace company’s stock worth $99,377,000 after buying an additional 379,811 shares in the last quarter. 56.68% of the stock is currently owned by hedge funds and other institutional investors.
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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