Research Analysts Offer Predictions for Astronics Corp.’s Q4 2016 Earnings (ATRO)
Astronics Corp. (NASDAQ:ATRO) – Dougherty & Co decreased their Q4 2016 earnings per share estimates for Astronics Corp. in a report released on Thursday. Dougherty & Co analyst R. Ryan now forecasts that the firm will post earnings of $0.55 per share for the quarter, down from their prior forecast of $0.64. Dougherty & Co also issued estimates for Astronics Corp.’s FY2017 earnings at $2.23 EPS.
Astronics Corp. (NASDAQ:ATRO) last released its earnings results on Wednesday, August 3rd. The company reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.09. Astronics Corp. had a net margin of 9.55% and a return on equity of 21.44%. The firm earned $164.40 million during the quarter, compared to analyst estimates of $162.17 million. During the same period last year, the business earned $0.77 earnings per share. The business’s revenue was down 5.0% on a year-over-year basis.
Other analysts also recently issued reports about the company. Zacks Investment Research downgraded Astronics Corp. from a “hold” rating to a “strong sell” rating in a research note on Monday. Canaccord Genuity restated a “buy” rating on shares of Astronics Corp. in a research note on Thursday, August 4th. Finally, KeyCorp upgraded Astronics Corp. from a “sector weight” rating to an “overweight” rating in a research note on Wednesday, June 29th.
Astronics Corp. (NASDAQ:ATRO) opened at 35.253 on Monday. Astronics Corp. has a 12-month low of $24.75 and a 12-month high of $48.00. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 16.420 and a beta of 1.18. The stock’s 50 day moving average is $43.09 and its 200 day moving average is $38.61.
In other Astronics Corp. news, Director John B. Drenning sold 5,000 shares of Astronics Corp. stock in a transaction on Monday, August 15th. The stock was sold at an average price of $43.47, for a total value of $217,350.00. Following the completion of the transaction, the director now directly owns 52,039 shares of the company’s stock, valued at approximately $2,262,135.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.03% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc boosted its position in shares of Astronics Corp. by 33.7% in the first quarter. Legal & General Group Plc now owns 3,252 shares of the company’s stock valued at $123,000 after buying an additional 819 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Astronics Corp. by 25.3% in the third quarter. BNP Paribas Arbitrage SA now owns 3,581 shares of the company’s stock valued at $161,000 after buying an additional 723 shares in the last quarter. Intrust Bank NA bought a new position in shares of Astronics Corp. during the second quarter valued at $213,000. Marshall Wace LLP bought a new position in shares of Astronics Corp. during the second quarter valued at $216,000. Finally, HighTower Advisors LLC boosted its position in shares of Astronics Corp. by 1.3% in the second quarter. HighTower Advisors LLC now owns 7,281 shares of the company’s stock valued at $242,000 after buying an additional 90 shares in the last quarter. 65.80% of the stock is owned by hedge funds and other institutional investors.
Astronics Corp. 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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