Ieq Capital LLC Buys Shares of 20,190 Astronics Corporation $ATRO

Ieq Capital LLC purchased a new position in Astronics Corporation (NASDAQ:ATRO) during the 2nd quarter, HoldingsChannel reports. The firm purchased 20,190 shares of the aerospace company’s stock, valued at approximately $1,641,000.

Other hedge funds also recently modified their holdings of the company. IFP Advisors Inc increased its position in Astronics by 389.6% during the third quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 448 shares during the period. Allworth Financial LP boosted its holdings in Astronics by 57.1% in the 4th quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 192 shares during the period. EverSource Wealth Advisors LLC grew its position in Astronics by 147.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock worth $30,000 after purchasing an additional 533 shares during the last quarter. Quarry LP grew its position in Astronics by 33.6% in the 4th quarter. Quarry LP now owns 568 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 143 shares during the last quarter. Finally, Leonteq Securities AG bought a new position in shares of Astronics during the 4th quarter worth about $33,000. 56.68% of the stock is owned by institutional investors.

Astronics Stock Down 0.3%

NASDAQ ATRO opened at $74.50 on Wednesday. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 1.57. The stock’s 50 day moving average is $76.18 and its two-hundred day moving average is $68.17. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 43.82 and a beta of 1.15. Astronics Corporation has a 1-year low of $29.65 and a 1-year high of $94.46.

Astronics (NASDAQ:ATRO) last issued its earnings results on Tuesday, August 11th. The aerospace company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.11. The business had revenue of $259.96 million during the quarter, compared to analysts’ expectations of $245.30 million. Astronics had a return on equity of 67.69% and a net margin of 8.40%.The firm’s revenue was up 46.9% on a year-over-year basis. Equities analysts forecast that Astronics Corporation will post 2.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ATRO has been the subject of several research reports. Zacks Research upgraded shares of Astronics from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research note on Friday, July 17th. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. Truist Financial upgraded Astronics to a “strong-buy” rating in a research report on Monday, May 4th. Finally, TD Cowen lifted their price objective on Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a report on Thursday, May 28th. Three investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Astronics currently has an average rating of “Buy” and a consensus price target of $74.17.

Astronics 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.