Astronics (NASDAQ:ATRO) Shares Down 9%


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Shares of Astronics Co. (NASDAQ:ATRO) were down 9% during trading on Tuesday . The company traded as low as $14.87 and last traded at $15.95. Approximately 627,666 shares traded hands during mid-day trading, an increase of 104% from the average daily volume of 307,122 shares. The stock had previously closed at $17.52.

A number of analysts recently commented on ATRO shares. Truist raised Astronics from a “sell” rating to a “hold” rating and raised their price target for the stock from $6.00 to $14.00 in a research note on Tuesday, December 1st. Zacks Investment Research raised Astronics from a “sell” rating to a “hold” rating in a research note on Monday, February 15th. CJS Securities raised Astronics from a “market perform” rating to an “outperform” rating and set a $16.00 price objective for the company in a research report on Friday, November 20th. Finally, Canaccord Genuity reissued a “buy” rating and set a $20.00 price objective on shares of Astronics in a research report on Thursday, February 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $14.00.

The company has a debt-to-equity ratio of 0.58, a current ratio of 3.16 and a quick ratio of 1.51. The firm has a market cap of $491.28 million, a PE ratio of -3.79 and a beta of 2.18. The firm has a 50-day simple moving average of $14.24 and a 200 day simple moving average of $10.80.

A number of institutional investors have recently made changes to their positions in ATRO. BlackRock Inc. increased its holdings in shares of Astronics by 2.6% during the fourth quarter. BlackRock Inc. now owns 2,083,007 shares of the aerospace company’s stock valued at $27,559,000 after acquiring an additional 52,381 shares in the last quarter. Paradice Investment Management LLC increased its holdings in shares of Astronics by 0.3% during the fourth quarter. Paradice Investment Management LLC now owns 1,273,441 shares of the aerospace company’s stock valued at $16,848,000 after acquiring an additional 4,021 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Astronics by 2,611.7% during the fourth quarter. JPMorgan Chase & Co. now owns 969,189 shares of the aerospace company’s stock valued at $12,823,000 after acquiring an additional 933,448 shares in the last quarter. Morgan Stanley increased its holdings in shares of Astronics by 1,251.9% during the fourth quarter. Morgan Stanley now owns 872,558 shares of the aerospace company’s stock valued at $11,544,000 after acquiring an additional 808,015 shares in the last quarter. Finally, Federated Hermes Inc. increased its holdings in shares of Astronics by 16.6% during the third quarter. Federated Hermes Inc. now owns 691,473 shares of the aerospace company’s stock valued at $5,338,000 after acquiring an additional 98,608 shares in the last quarter. 57.77% of the stock is owned by institutional investors and hedge funds.

Astronics Company Profile (NASDAQ:ATRO)

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defence, and electronic industries in the United States, North America, Asia, Europe, South America, and internationally. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and motions systems, aircraft structures, avionics products, system certification, and other products.

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