Astronics (NASDAQ:ATRO) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Astronics (NASDAQ:ATRO) from a hold rating to a buy rating in a research note published on Thursday morning.

Separately, Truist Financial raised their price target on shares of Astronics from $17.00 to $23.00 and gave the stock a “hold” rating in a research report on Wednesday.

Astronics Price Performance

Shares of ATRO opened at $24.45 on Thursday. The firm has a market capitalization of $862.16 million, a PE ratio of -128.68 and a beta of 1.74. The company’s 50-day moving average is $18.18 and its 200-day moving average is $18.35. Astronics has a fifty-two week low of $14.13 and a fifty-two week 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 quarterly earnings results on Tuesday, March 4th. The aerospace company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.27. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. The business had revenue of $208.54 million for the quarter, compared to analyst estimates of $194.91 million. During the same period last year, the firm earned $0.35 earnings per share. Equities analysts forecast that Astronics will post 0.82 EPS for the current year.

Hedge Funds Weigh In On Astronics

A number of hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Astronics by 4.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,422 shares of the aerospace company’s stock worth $262,000 after acquiring an additional 684 shares during the period. Franklin Resources Inc. grew its stake in Astronics by 3.4% during the fourth quarter. Franklin Resources Inc. now owns 20,882 shares of the aerospace company’s stock worth $333,000 after buying an additional 693 shares in the last quarter. RiverPark Advisors LLC grew its stake in Astronics by 3.5% during the third quarter. RiverPark Advisors LLC now owns 30,394 shares of the aerospace company’s stock worth $592,000 after buying an additional 1,015 shares in the last quarter. Swiss National Bank grew its stake in Astronics by 2.2% during the fourth quarter. Swiss National Bank now owns 54,800 shares of the aerospace company’s stock worth $875,000 after buying an additional 1,200 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Astronics by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 81,169 shares of the aerospace company’s stock worth $1,581,000 after buying an additional 1,432 shares in the last quarter. 56.68% of the stock is 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.