Astronics Corporation (ATRO) Upgraded to “Hold” by Zacks Investment Research
Zacks Investment Research upgraded shares of Astronics Corporation (NASDAQ:ATRO) from a sell rating to a hold rating in a research report report published on Friday.
According to Zacks, “Astronics Corporation is a manufacturer of specialized lighting and electronics for the cockpit, cabin and exteriors of military, commercial transport and private business jet aircraft. A major lighting and electronics supplier to the aircraft industry, its strategy is to expand from a components and subsystems supplier to an aircraft lighting systems integrator, increasing the value and content it provides to various aircraft platforms. Luminescent Systems Inc. is Astronics’ primary operating subsidiary which produces its aerospace and defense products. “
Several other equities research analysts have also commented on the company. Dougherty & Co upped their target price on Astronics Corporation from $35.00 to $40.00 and gave the company a buy rating in a research report on Wednesday. Canaccord Genuity restated a buy rating and set a $40.00 target price on shares of Astronics Corporation in a research report on Tuesday, November 7th. SunTrust Banks, Inc. reiterated a hold rating and issued a $30.00 price target on shares of Astronics Corporation in a report on Thursday, October 12th. Finally, BidaskClub lowered Astronics Corporation from a sell rating to a strong sell rating in a report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $37.25.
Shares of Astronics Corporation (ATRO) traded down $0.49 during trading on Friday, hitting $38.22. The company had a trading volume of 235,200 shares, compared to its average volume of 161,969. Astronics Corporation has a 52 week low of $23.95 and a 52 week high of $41.03. The company has a current ratio of 3.30, a quick ratio of 1.70 and a debt-to-equity ratio of 0.46. The company has a market cap of $1,096.95, a price-to-earnings ratio of 32.39, a price-to-earnings-growth ratio of 1.89 and a beta of 1.04.
Astronics Corporation (NASDAQ:ATRO) last announced its earnings results on Tuesday, November 7th. The aerospace company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.14). Astronics Corporation had a net margin of 5.80% and a return on equity of 10.24%. The business had revenue of $149.64 million for the quarter, compared to the consensus estimate of $154.90 million. During the same quarter in the previous year, the company earned $0.41 EPS. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. analysts predict that Astronics Corporation will post 1.35 earnings per share for the current fiscal year.
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Large investors have recently made changes to their positions in the business. Legal & General Group Plc boosted its holdings in Astronics Corporation by 12.0% in the first quarter. Legal & General Group Plc now owns 5,084 shares of the aerospace company’s stock worth $161,000 after acquiring an additional 543 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Astronics Corporation by 26.4% in the second quarter. BNP Paribas Arbitrage SA now owns 5,999 shares of the aerospace company’s stock worth $183,000 after acquiring an additional 1,254 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Astronics Corporation by 37.9% in the first quarter. JPMorgan Chase & Co. now owns 7,534 shares of the aerospace company’s stock worth $239,000 after acquiring an additional 2,069 shares in the last quarter. Tudor Investment Corp ET AL bought a new position in Astronics Corporation in the first quarter worth approximately $240,000. Finally, Marshall Wace North America L.P. bought a new position in Astronics Corporation in the second quarter worth approximately $294,000. Institutional investors and hedge funds own 64.45% of the company’s stock.
Astronics Corporation 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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