Astronics Corporation (NASDAQ:ATRO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Astronics Corporation (NASDAQ:ATRO) have earned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, two have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $89.00.

A number of equities analysts have issued reports on the stock. TD Cowen raised their price objective on shares of Astronics from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Wall Street Zen cut shares of Astronics from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research note on Monday, April 20th. Zacks Research cut shares of Astronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Finally, Truist Financial raised shares of Astronics to a “strong-buy” rating in a research note on Monday, May 4th.

Astronics Price Performance

Shares of ATRO stock opened at $96.00 on Friday. Astronics has a 52-week low of $27.27 and a 52-week high of $99.89. The stock has a market cap of $3.44 billion, a PE ratio of 81.36 and a beta of 1.15. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.63 and a current ratio of 2.97. The firm’s 50 day moving average price is $78.72 and its two-hundred day moving average price is $70.82.

Astronics’s stock is scheduled to split before the market opens on Monday, June 15th. The 6-5 split was recently announced. The newly minted shares will be distributed to shareholders after the market closes on Sunday, June 14th.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The firm had revenue of $230.62 million for the quarter, compared to analysts’ expectations of $225.52 million. During the same period last year, the firm earned $0.44 earnings per share. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, analysts forecast that Astronics will post 2.68 EPS for the current year.

Hedge Funds Weigh In On Astronics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Capital International Investors bought a new position in shares of Astronics during the third quarter worth $64,173,000. Vanguard Group Inc. boosted its position in shares of Astronics by 5.8% during the third quarter. Vanguard Group Inc. now owns 1,936,166 shares of the aerospace company’s stock worth $88,309,000 after purchasing an additional 105,311 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of Astronics during the third quarter worth $2,204,000. First Eagle Investment Management LLC boosted its position in shares of Astronics by 6.3% during the third quarter. First Eagle Investment Management LLC now owns 236,326 shares of the aerospace company’s stock worth $10,779,000 after purchasing an additional 14,000 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Astronics by 58.6% during the third quarter. American Century Companies Inc. now owns 539,006 shares of the aerospace company’s stock worth $24,584,000 after purchasing an additional 199,059 shares in 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.