Astronics (NASDAQ:ATRO) Price Target Cut to $17.00 by Analysts at Truist Financial

Astronics (NASDAQ:ATRO) had its price target dropped by investment analysts at Truist Financial from $20.00 to $17.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the aerospace company’s stock. Truist Financial’s price target indicates a potential upside of 5.33% from the company’s current price.

Astronics Stock Performance

ATRO stock traded down $0.04 during midday trading on Tuesday, hitting $16.14. 28,869 shares of the stock traded hands, compared to its average volume of 196,193. The stock’s fifty day simple moving average is $16.47 and its 200-day simple moving average is $18.80. The firm has a market cap of $569.13 million, a P/E ratio of -84.94 and a beta of 1.79. Astronics has a 1-year low of $14.13 and a 1-year high of $23.74. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46.

Institutional Investors Weigh In On Astronics

A number of institutional investors have recently added to or reduced their stakes in ATRO. Cubist Systematic Strategies LLC purchased a new position in Astronics in the 2nd quarter valued at about $857,000. Algert Global LLC lifted its position in shares of Astronics by 367.2% in the third quarter. Algert Global LLC now owns 56,072 shares of the aerospace company’s stock valued at $1,092,000 after acquiring an additional 44,070 shares in the last quarter. Black Swift Group LLC acquired a new stake in shares of Astronics in the third quarter worth approximately $756,000. Barclays PLC increased its position in shares of Astronics by 328.2% during the third quarter. Barclays PLC now owns 45,313 shares of the aerospace company’s stock worth $883,000 after purchasing an additional 34,730 shares in the last quarter. Finally, Stifel Financial Corp purchased a new position in Astronics in the 3rd quarter valued at $212,000. Institutional investors and hedge funds own 56.68% of the company’s stock.

About Astronics

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.