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

Astronics Corporation (NASDAQ:ATRO) has received a consensus rating of “Buy” from the six ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $77.3333.

A number of equities research analysts recently commented on the company. Truist Financial lifted their price objective on Astronics from $75.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. CJS Securities raised Astronics to a “strong-buy” rating in a research note on Thursday, December 11th. TD Cowen began coverage on shares of Astronics in a research report on Wednesday, November 26th. They issued a “buy” rating on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a report on Wednesday, January 21st.

Institutional Trading of Astronics

Several hedge funds have recently added to or reduced their stakes in the business. Nordea Investment Management AB bought a new position in shares of Astronics during the 3rd quarter valued at about $4,137,000. Principal Financial Group Inc. bought a new stake in Astronics during the 3rd quarter worth approximately $2,204,000. Y Intercept Hong Kong Ltd raised its holdings in Astronics by 74.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 33,061 shares of the aerospace company’s stock worth $1,508,000 after buying an additional 14,160 shares during the period. Ellsworth Advisors LLC bought a new position in Astronics in the third quarter valued at approximately $918,000. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Astronics by 75.7% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 44,166 shares of the aerospace company’s stock valued at $2,014,000 after buying an additional 19,029 shares during the period. Institutional investors and hedge funds own 56.68% of the company’s stock.

Astronics Stock Down 4.8%

Shares of NASDAQ:ATRO opened at $75.52 on Friday. Astronics has a one year low of $19.89 and a one year high of $83.96. The company has a 50 day moving average of $72.29 and a 200-day moving average of $55.44. The company has a debt-to-equity ratio of 2.39, a current ratio of 3.10 and a quick ratio of 1.71. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of 98.08 and a beta of 1.06.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings data on Tuesday, February 24th. The aerospace company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.12. The business had revenue of $240.07 million for the quarter, compared to analyst estimates of $237.11 million. Astronics had a net margin of 3.41% and a return on equity of 39.95%. Astronics’s revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.46 earnings per share. On average, sell-side analysts forecast that Astronics will post 0.82 earnings per share for the current year.

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.