Astronics (NASDAQ:ATRO) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday, Zacks.com reports.

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. “

A number of other research firms also recently commented on ATRO. BidaskClub downgraded shares of Xencor from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 11th. SunTrust Banks dropped their target price on shares of Broadcom to $307.00 and set a “buy” rating on the stock in a research report on Friday, June 14th. Seaport Global Securities raised shares of Saia from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 1st. Finally, ValuEngine downgraded shares of Valero Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $40.25.

Shares of NASDAQ ATRO traded down $0.75 during mid-day trading on Tuesday, reaching $38.19. The company had a trading volume of 10,129 shares, compared to its average volume of 202,883. The company has a current ratio of 2.44, a quick ratio of 1.50 and a debt-to-equity ratio of 0.25. The stock has a 50 day simple moving average of $40.95. The stock has a market cap of $1.29 billion, a PE ratio of 27.08, a P/E/G ratio of 2.17 and a beta of 1.35. Astronics has a 52-week low of $27.56 and a 52-week high of $46.56.

Astronics (NASDAQ:ATRO) last posted its earnings results on Wednesday, May 8th. The aerospace company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.11. The firm had revenue of $208.20 million for the quarter, compared to the consensus estimate of $192.10 million. Astronics had a net margin of 14.61% and a return on equity of 15.16%. The company’s revenue was up 16.2% on a year-over-year basis. During the same period last year, the firm posted $0.11 EPS. Research analysts predict that Astronics will post 1.89 earnings per share for the current fiscal year.

In other news, VP Mark Peabody sold 2,000 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $43.78, for a total value of $87,560.00. Following the completion of the sale, the vice president now owns 18,761 shares in the company, valued at approximately $821,356.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have sold 9,000 shares of company stock valued at $369,130. 15.80% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position in Astronics by 196.6% in the first quarter. PNC Financial Services Group Inc. now owns 872 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 578 shares during the period. Optimum Investment Advisors acquired a new stake in Astronics in the 1st quarter valued at approximately $33,000. Quantamental Technologies LLC acquired a new position in shares of Astronics during the 1st quarter worth approximately $50,000. Bremer Bank National Association acquired a new position in shares of Astronics during the 1st quarter worth approximately $67,000. Finally, Advisor Group Inc. increased its position in shares of Astronics by 378.6% during the 4th quarter. Advisor Group Inc. now owns 2,307 shares of the aerospace company’s stock worth $70,000 after purchasing an additional 1,825 shares during the last quarter. Institutional investors own 64.92% of the company’s stock.

About Astronics

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, electronics, and semiconductor industries worldwide. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems; electrical power generation, distribution, and motions systems; aircraft structures; avionics products; system certification; and connectivity and other products.

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