Zacks Investment Research downgraded shares of Astronics Corporation (NASDAQ:ATRO) from a hold rating to a strong sell rating in a research report released on Friday.

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. “

Other research analysts also recently issued research reports about the stock. Canaccord Genuity cut their target price on shares of Astronics Corporation from $40.00 to $34.00 and set a buy rating for the company in a research note on Thursday. TheStreet downgraded shares of Astronics Corporation from a b- rating to a c+ rating in a research note on Wednesday, June 7th. Finally, BidaskClub downgraded shares of Astronics Corporation from a sell rating to a strong sell rating in a research note on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the stock. Astronics Corporation currently has an average rating of Hold and an average target price of $34.33.

Shares of Astronics Corporation (NASDAQ ATRO) opened at 25.13 on Friday. Astronics Corporation has a 52-week low of $25.03 and a 52-week high of $41.03. The firm has a market capitalization of $715.25 million, a PE ratio of 18.24 and a beta of 1.13. The company’s 50-day moving average is $30.36 and its 200 day moving average is $31.37.

Astronics Corporation (NASDAQ:ATRO) last announced its earnings results on Wednesday, August 2nd. The aerospace company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.40 by $0.14. Astronics Corporation had a net margin of 6.73% and a return on equity of 12.21%. The firm had revenue of $151.11 million during the quarter, compared to analyst estimates of $162.33 million. During the same period in the previous year, the firm posted $0.50 EPS. The company’s revenue for the quarter was down 8.1% compared to the same quarter last year. Equities analysts expect that Astronics Corporation will post $1.42 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Marshall Wace North America L.P. bought a new position in Astronics Corporation during the second quarter worth approximately $294,000. BNP Paribas Arbitrage SA increased its position in Astronics Corporation by 26.4% in the second quarter. BNP Paribas Arbitrage SA now owns 5,999 shares of the aerospace company’s stock worth $183,000 after buying an additional 1,254 shares in the last quarter. Legal & General Group Plc increased its position in Astronics Corporation by 10.7% in the second quarter. Legal & General Group Plc now owns 5,630 shares of the aerospace company’s stock worth $172,000 after buying an additional 546 shares in the last quarter. Bank of New York Mellon Corp increased its position in Astronics Corporation by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 101,491 shares of the aerospace company’s stock worth $3,092,000 after buying an additional 2,571 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in Astronics Corporation by 15.8% in the second quarter. SG Americas Securities LLC now owns 28,430 shares of the aerospace company’s stock worth $866,000 after buying an additional 3,877 shares in the last quarter. 63.89% of the stock is owned by institutional investors.

Astronics Corporation 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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