Astronics (NASDAQ:ATRO) Given New $23.00 Price Target at Truist Financial

Astronics (NASDAQ:ATRO) had its price objective boosted by Truist Financial from $17.00 to $23.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Truist Financial currently has a hold rating on the aerospace company’s stock.

Separately, StockNews.com downgraded Astronics from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th.

Astronics Stock Performance

NASDAQ ATRO opened at $24.91 on Wednesday. The company has a market cap of $878.38 million, a PE ratio of -131.10 and a beta of 1.79. The stock’s 50 day simple moving average is $17.67 and its 200-day simple moving average is $18.23. Astronics has a 1-year low of $14.13 and a 1-year high of $25.54. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46.

Astronics (NASDAQ:ATRO) last released its earnings results on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.27. Astronics had a positive return on equity of 6.94% and a negative net margin of 0.82%. The business had revenue of $208.54 million for the quarter, compared to the consensus estimate of $194.91 million. During the same quarter last year, the business posted $0.35 earnings per share. As a group, equities research analysts anticipate that Astronics will post 0.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Royce & Associates LP grew its stake in Astronics by 18.7% during the 4th quarter. Royce & Associates LP now owns 1,150,355 shares of the aerospace company’s stock worth $18,360,000 after purchasing an additional 181,619 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Astronics by 6.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 998,506 shares of the aerospace company’s stock worth $15,936,000 after buying an additional 58,149 shares during the last quarter. State Street Corp lifted its holdings in Astronics by 6.7% during the 3rd quarter. State Street Corp now owns 924,070 shares of the aerospace company’s stock worth $18,001,000 after buying an additional 58,356 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its holdings in Astronics by 58.7% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 881,504 shares of the aerospace company’s stock worth $14,069,000 after buying an additional 325,904 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Astronics by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 691,522 shares of the aerospace company’s stock worth $13,474,000 after buying an additional 13,469 shares during the last quarter. 56.68% of the stock is owned by institutional investors and hedge funds.

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.