Canaccord Genuity Reiterates Buy Rating for Astronics (ATRO)
Astronics (NASDAQ:ATRO)‘s stock had its “buy” rating reissued by analysts at Canaccord Genuity in a research report issued on Tuesday.
A number of other equities research analysts have also recently issued reports on ATRO. Zacks Investment Research upgraded shares of Astronics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 17th. SunTrust Banks reiterated a “hold” rating and set a $35.00 target price on shares of Astronics in a research report on Friday, November 10th. Finally, Dougherty & Co increased their target price on shares of Astronics from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $38.50.
Astronics (NASDAQ ATRO) opened at $42.06 on Tuesday. Astronics has a one year low of $23.95 and a one year high of $44.19. The stock has a market cap of $1,211.04, a price-to-earnings ratio of 36.65, a PEG ratio of 3.37 and a beta of 1.09. The company has a quick ratio of 1.57, a current ratio of 3.07 and a debt-to-equity ratio of 0.52.
Astronics (NASDAQ:ATRO) last announced its quarterly earnings data on Tuesday, November 7th. The aerospace company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.14). Astronics had a net margin of 5.80% and a return on equity of 10.29%. The business had revenue of $149.64 million during the quarter, compared to analyst estimates of $154.90 million. During the same quarter in the prior year, the company posted $0.41 EPS. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. sell-side analysts forecast that Astronics will post 1.29 earnings per share for the current year.
In related news, Director Robert J. Mckenna sold 45,000 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $39.00, for a total transaction of $1,755,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 16.45% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of ATRO. Legal & General Group Plc boosted its stake in shares of Astronics by 10.7% in the 2nd quarter. Legal & General Group Plc now owns 5,630 shares of the aerospace company’s stock valued at $172,000 after purchasing an additional 546 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Astronics by 26.4% during the 2nd 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 during the last quarter. Marshall Wace North America L.P. bought a new position in Astronics during the 2nd quarter worth approximately $294,000. Tudor Investment Corp ET AL boosted its stake in Astronics by 28.5% during the 2nd quarter. Tudor Investment Corp ET AL now owns 9,727 shares of the aerospace company’s stock worth $296,000 after acquiring an additional 2,158 shares during the last quarter. Finally, Voya Investment Management LLC boosted its stake in Astronics by 11.2% during the 2nd quarter. Voya Investment Management LLC now owns 10,719 shares of the aerospace company’s stock worth $327,000 after acquiring an additional 1,078 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.
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Astronics 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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