Y Intercept Hong Kong Ltd Raises Holdings in Astronics Corporation $ATRO

Y Intercept Hong Kong Ltd grew its holdings in Astronics Corporation (NASDAQ:ATRO) by 41.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,683 shares of the aerospace company’s stock after buying an additional 7,849 shares during the quarter. Y Intercept Hong Kong Ltd owned about 0.07% of Astronics worth $1,781,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Peregrine Capital Management LLC acquired a new position in Astronics during the first quarter worth $7,575,000. Pictet Asset Management Holding SA boosted its position in shares of Astronics by 18.8% during the 1st quarter. Pictet Asset Management Holding SA now owns 5,051 shares of the aerospace company’s stock worth $337,000 after purchasing an additional 800 shares in the last quarter. OP Asset Management Ltd acquired a new position in shares of Astronics during the 1st quarter worth $1,389,000. Diversified Trust Co grew its stake in shares of Astronics by 13.8% during the 1st quarter. Diversified Trust Co now owns 4,684 shares of the aerospace company’s stock worth $313,000 after purchasing an additional 569 shares during the period. Finally, Hsbc Holdings PLC increased its holdings in shares of Astronics by 2,291.3% in the 4th quarter. Hsbc Holdings PLC now owns 148,309 shares of the aerospace company’s stock valued at $8,120,000 after purchasing an additional 142,107 shares in the last quarter. 56.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ATRO shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a research note on Monday, April 20th. TD Cowen upped their target price on shares of Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Zacks Research cut shares of Astronics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Truist Financial upgraded shares of Astronics to a “strong-buy” rating in a research report on Monday, May 4th. Finally, Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 21st. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $74.17.

Astronics Stock Up 1.0%

ATRO opened at $71.86 on Friday. The firm has a market cap of $3.09 billion, a P/E ratio of 73.08 and a beta of 1.13. The business’s fifty day simple moving average is $71.96 and its 200 day simple moving average is $63.69. Astronics Corporation has a 52 week low of $22.73 and a 52 week high of $88.72. The company has a quick ratio of 1.63, a current ratio of 2.97 and a debt-to-equity ratio of 2.07.

Astronics (NASDAQ:ATRO) last released its earnings results on Tuesday, May 12th. The aerospace company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03. The firm had revenue of $230.62 million during the quarter, compared to analyst estimates of $225.52 million. Astronics had a return on equity of 49.34% and a net margin of 5.12%.The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 earnings per share. As a group, equities research analysts anticipate that Astronics Corporation will post 2.23 EPS for the current fiscal year.

About Astronics

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.