Astronics (NASDAQ:ATRO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Astronics (NASDAQ:ATRO) from a buy rating to a strong-buy rating in a report issued on Saturday morning.

ATRO has been the subject of several other research reports. Truist Financial boosted their price target on shares of Astronics from $75.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. TD Cowen began coverage on Astronics in a research note on Wednesday, November 26th. They issued a “buy” rating on the stock. Zacks Research upgraded Astronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a research report on Wednesday, January 21st. Finally, CJS Securities raised Astronics to a “strong-buy” rating in a report on Thursday, December 11th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $77.33.

Astronics Trading Up 0.9%

NASDAQ:ATRO opened at $81.35 on Friday. Astronics has a 12-month low of $19.51 and a 12-month high of $83.96. The firm has a market cap of $2.90 billion, a PE ratio of 105.65 and a beta of 1.06. The company has a current ratio of 3.10, a quick ratio of 1.71 and a debt-to-equity ratio of 2.39. The stock has a fifty day moving average price of $71.00 and a 200 day moving average price of $54.83.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings results on Tuesday, February 24th. The aerospace company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.12. The company had revenue of $240.07 million for the quarter, compared to the consensus estimate of $237.11 million. Astronics had a return on equity of 39.95% and a net margin of 3.41%.Astronics’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.46 EPS. Sell-side analysts anticipate that Astronics will post 0.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Astronics

Several large investors have recently modified their holdings of ATRO. Virtu Financial LLC acquired a new position in shares of Astronics in the 4th quarter valued at $342,000. Invesco Ltd. increased its stake in Astronics by 63.0% in the fourth quarter. Invesco Ltd. now owns 205,672 shares of the aerospace company’s stock valued at $11,156,000 after purchasing an additional 79,469 shares during the period. Corient Private Wealth LLC purchased a new stake in shares of Astronics in the fourth quarter valued at about $568,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Astronics during the fourth quarter worth about $282,000. Finally, SkyView Investment Advisors LLC acquired a new stake in shares of Astronics during the fourth quarter worth about $217,000. 56.68% of the stock is owned by institutional investors and hedge funds.

About Astronics

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.