Astronics Co. (ATRO) to Post FY2018 Earnings of $1.90 Per Share, Dougherty & Co Forecasts
Astronics Co. (NASDAQ:ATRO) – Equities research analysts at Dougherty & Co raised their FY2018 earnings estimates for shares of Astronics in a research note issued on Tuesday. Dougherty & Co analyst R. Ryan now forecasts that the aerospace company will post earnings of $1.90 per share for the year, up from their previous estimate of $1.84. Dougherty & Co has a “Buy” rating and a $45.00 price objective on the stock.
A number of other research firms have also commented on ATRO. Canaccord Genuity restated a “buy” rating and set a $34.00 price target on shares of Astronics in a research report on Wednesday, August 16th. Zacks Investment Research upgraded shares of Astronics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Finally, SunTrust Banks reiterated a “hold” rating and issued a $35.00 target price on shares of Astronics in a research report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Astronics presently has a consensus rating of “Hold” and an average target price of $38.50.
Astronics (NASDAQ:ATRO) traded down $0.62 on Friday, hitting $43.25. 114,776 shares of the stock were exchanged, compared to its average volume of 113,965. The stock has a market cap of $1,228.40, a price-to-earnings ratio of 37.18, a P/E/G ratio of 3.41 and a beta of 1.09. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.07 and a quick ratio of 1.57. Astronics has a 12-month low of $23.95 and a 12-month high of $44.19.
Astronics (NASDAQ:ATRO) last released its quarterly earnings results on Tuesday, November 7th. The aerospace company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.14). The firm had revenue of $149.64 million for the quarter, compared to analysts’ expectations of $154.90 million. Astronics had a net margin of 5.80% and a return on equity of 10.29%. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 earnings per share.
A number of large investors have recently made changes to their positions in the stock. 22NW LP purchased a new position in Astronics in the third quarter worth $657,000. Royce & Associates LP boosted its position in Astronics by 12.9% during the third quarter. Royce & Associates LP now owns 95,145 shares of the aerospace company’s stock valued at $2,831,000 after buying an additional 10,845 shares during the period. Dimensional Fund Advisors LP boosted its position in Astronics by 2.2% during the third quarter. Dimensional Fund Advisors LP now owns 770,713 shares of the aerospace company’s stock valued at $22,929,000 after buying an additional 16,881 shares during the period. International Value Advisers LLC purchased a new stake in Astronics during the third quarter valued at about $12,133,000. Finally, Paradice Investment Management LLC purchased a new stake in Astronics during the third quarter valued at about $14,771,000. Institutional investors own 65.68% of the company’s stock.
In related news, Director Robert J. Mckenna sold 45,000 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $39.00, for a total value of $1,755,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.45% of the stock is currently owned by insiders.
Astronics Company Profile
Astronics Corporation is a supplier of products to the aerospace, defense, electronics and semiconductor industries. The Company’s products and services include electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems.
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