Truist Financial Forecasts Strong Price Appreciation for Astronics (NASDAQ:ATRO) Stock

Astronics (NASDAQ:ATRO) had its price target hoisted by analysts at Truist Financial from $75.00 to $107.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the aerospace company’s stock. Truist Financial’s price target would suggest a potential upside of 42.69% from the company’s current price.

Other analysts also recently issued research reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a research report on Wednesday, January 21st. CJS Securities upgraded shares of Astronics to a “strong-buy” rating in a research report on Thursday, December 11th. TD Cowen began coverage on shares of Astronics in a research note on Wednesday, November 26th. They issued a “buy” rating for the company. Zacks Research upgraded shares of Astronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Finally, Craig Hallum reaffirmed a “buy” rating on shares of Astronics in a report on Friday, January 9th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $77.33.

Astronics Price Performance

NASDAQ:ATRO traded down $4.40 during trading hours on Wednesday, hitting $74.99. The stock had a trading volume of 805,537 shares, compared to its average volume of 756,355. The company has a 50 day simple moving average of $68.84 and a two-hundred day simple moving average of $53.50. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of -833.96 and a beta of 1.10. The company has a debt-to-equity ratio of 3.07, a current ratio of 2.87 and a quick ratio of 1.56. Astronics has a one year low of $19.51 and a one year high of $81.89.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings data on Tuesday, February 24th. The aerospace company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.12. Astronics had a positive return on equity of 29.65% and a negative net margin of 0.37%.The company had revenue of $240.07 million for the quarter, compared to the consensus estimate of $237.11 million. During the same quarter last year, the business posted $0.46 earnings per share. The firm’s revenue was up 15.1% compared to the same quarter last year. Research analysts forecast that Astronics will post 0.82 earnings per share for the current fiscal year.

Institutional Trading of Astronics

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Astronics by 2.0% during the fourth 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 last quarter. Capital International Investors grew its position in Astronics by 31.5% during the 4th quarter. Capital International Investors now owns 1,849,886 shares of the aerospace company’s stock worth $100,338,000 after acquiring an additional 442,886 shares during the last quarter. State Street Corp increased its stake in Astronics by 26.2% in the 4th quarter. State Street Corp now owns 1,832,179 shares of the aerospace company’s stock worth $99,377,000 after purchasing an additional 379,811 shares during the period. Luxor Capital Group LP purchased a new position in Astronics in the 3rd quarter worth approximately $52,698,000. Finally, Geode Capital Management LLC lifted its position in Astronics by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 756,386 shares of the aerospace company’s stock valued at $41,033,000 after purchasing an additional 7,968 shares during the last quarter. 56.68% of the stock is owned by 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.