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

Astronics Corporation (NASDAQ:ATRO) has earned an average rating of “Buy” from the six ratings firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a buy rating and three have assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $74.1667.

Several brokerages have commented on ATRO. Truist Financial upgraded shares of Astronics to a “strong-buy” rating in a research note on Monday, May 4th. Zacks Research upgraded Astronics from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research report on Friday, July 17th. Finally, TD Cowen lifted their target price on Astronics from $70.83 to $83.33 and gave the company a “buy” rating in a research note on Thursday, May 28th.

Astronics Price Performance

ATRO stock opened at $69.49 on Monday. 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 has a fifty-two week low of $22.73 and a fifty-two week high of $88.72. The firm’s 50-day simple moving average is $73.45 and its 200 day simple moving average is $66.06. The stock has a market cap of $2.99 billion, a PE ratio of 70.67 and a beta of 1.15.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03. The firm had revenue of $230.62 million for the quarter, compared to the consensus estimate of $225.52 million. Astronics had a net margin of 5.12% and a return on equity of 49.34%. Astronics’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the firm posted $0.37 EPS. As a group, sell-side analysts predict that Astronics will post 2.62 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Capital International Investors grew its position in Astronics by 31.5% in the 4th quarter. Capital International Investors now owns 1,849,886 shares of the aerospace company’s stock valued at $100,338,000 after buying an additional 442,886 shares in the last quarter. State Street Corp raised its position in shares of Astronics by 26.2% during the 4th quarter. State Street Corp now owns 1,832,179 shares of the aerospace company’s stock worth $99,377,000 after buying an additional 379,811 shares in the last quarter. Congruence Capital LLC bought a new stake in shares of Astronics during the 4th quarter worth about $19,658,000. Millennium Management LLC lifted its stake in shares of Astronics by 80.1% in the 1st quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock worth $18,054,000 after acquiring an additional 332,133 shares during the period. Finally, Lazard Asset Management LLC lifted its stake in shares of Astronics by 4,791.1% in the 3rd quarter. Lazard Asset Management LLC now owns 236,140 shares of the aerospace company’s stock worth $10,770,000 after acquiring an additional 231,312 shares during the period. 56.68% of the stock is owned by institutional investors and hedge funds.

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.