Astronics Corporation (NASDAQ:ATRO – Get Free Report) has earned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $89.58.
ATRO has been the subject of several recent research reports. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday. KeyCorp assumed coverage on shares of Astronics in a research report on Thursday, October 22nd. They issued a “sector weight” rating on the stock. Zacks Research lowered shares of Astronics from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 7th. TD Cowen reissued a “buy” rating and set a $90.00 price target (down from $100.00) on shares of Astronics in a research report on Friday, October 9th. Finally, Weiss Ratings lowered shares of Astronics from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th.
Check Out Our Latest Report on ATRO
Astronics Trading Up 5.1%
Shares of ATRO opened at $62.00 on Wednesday. The firm’s 50-day moving average price is $65.39 and its 200-day moving average price is $67.46. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 36.47 and a beta of 1.37. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 1.57. Astronics has a 1-year low of $38.13 and a 1-year high of $94.46.
Astronics (NASDAQ:ATRO – Get Free Report) last released its quarterly earnings results on Tuesday, November 10th. The aerospace company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.09. Astronics had a net margin of 8.40% and a return on equity of 67.69%. The company had revenue of $271.68 million during the quarter, compared to the consensus estimate of $267.97 million. During the same period in the prior year, the firm earned $0.49 earnings per share. Astronics’s revenue was up 41.0% on a year-over-year basis. Sell-side analysts anticipate that Astronics will post 2.72 EPS for the current year.
Hedge Funds Weigh In On Astronics
Several large investors have recently made changes to their positions in ATRO. Nykredit A S bought a new position in Astronics during the 2nd quarter valued at approximately $40,000. Fifth Third Bancorp raised its stake in Astronics by 877.2% during the first quarter. Fifth Third Bancorp now owns 557 shares of the aerospace company’s stock valued at $37,000 after buying an additional 500 shares during the last quarter. Optiver Holding B.V. boosted its holdings in Astronics by 3,921.4% in the first quarter. Optiver Holding B.V. now owns 563 shares of the aerospace company’s stock worth $38,000 after acquiring an additional 549 shares in the last quarter. Allworth Financial LP bought a new stake in Astronics in the second quarter worth $46,000. Finally, Blue Bell Private Wealth Management LLC purchased a new stake in shares of Astronics in the third quarter worth $48,000. 56.68% of the stock is currently owned by hedge funds and other institutional investors.
Astronics Company Profile
Astronics Corporation designs and manufactures technologies for the aerospace, defense and other industries. Its aerospace products include aircraft lighting, electrical power generation and distribution systems, cabin electronics, connectivity solutions and avionics-related equipment used on commercial and military aircraft. The company also develops test systems, including automated equipment used to test aerospace and defense electronics. Astronics serves aircraft manufacturers, airlines, defense organizations and other customers, with products and services reaching markets around the world.
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