SunTrust Banks, Inc. Reiterates Hold Rating for Astronics Corporation (ATRO)
Astronics Corporation (NASDAQ:ATRO)‘s stock had its “hold” rating restated by investment analysts at SunTrust Banks, Inc. in a research note issued on Thursday. They presently have a $30.00 target price on the aerospace company’s stock. SunTrust Banks, Inc.’s price objective suggests a potential downside of 2.53% from the company’s current price.
Several other brokerages have also recently issued reports on ATRO. Zacks Investment Research cut shares of Astronics Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. BidaskClub cut shares of Astronics Corporation from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Finally, Canaccord Genuity dropped their target price on shares of Astronics Corporation from $40.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company’s stock. Astronics Corporation presently has an average rating of “Hold” and a consensus target price of $33.33.
Shares of Astronics Corporation (NASDAQ:ATRO) traded up 0.68% during trading on Thursday, hitting $30.99. The stock had a trading volume of 57,938 shares. The stock has a 50 day moving average of $28.44 and a 200 day moving average of $29.67. The firm has a market cap of $889.44 million, a PE ratio of 22.49 and a beta of 1.17. Astronics Corporation has a 52-week low of $23.95 and a 52-week high of $41.03.
Astronics Corporation (NASDAQ:ATRO) last announced its quarterly earnings results on Wednesday, August 2nd. The aerospace company reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.14). The firm had revenue of $151.11 million for the quarter, compared to the consensus estimate of $162.33 million. Astronics Corporation had a net margin of 6.73% and a return on equity of 12.12%. Astronics Corporation’s revenue was down 8.1% on a year-over-year basis. During the same period last year, the business earned $0.50 EPS. On average, equities analysts anticipate that Astronics Corporation will post $1.41 EPS for the current year.
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Several institutional investors have recently modified their holdings of ATRO. BNP Paribas Arbitrage SA boosted its stake in shares of Astronics Corporation by 11.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,745 shares of the aerospace company’s stock worth $151,000 after acquiring an additional 472 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Astronics Corporation by 12.0% during the 1st quarter. Legal & General Group Plc now owns 5,084 shares of the aerospace company’s stock worth $161,000 after acquiring an additional 543 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Astronics Corporation by 37.9% during the 1st quarter. JPMorgan Chase & Co. now owns 7,534 shares of the aerospace company’s stock worth $239,000 after acquiring an additional 2,069 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of Astronics Corporation during the 1st quarter worth $240,000. Finally, Marshall Wace North America L.P. purchased a new position in shares of Astronics Corporation during the 2nd quarter worth $294,000. Institutional investors and hedge funds own 65.59% of the company’s stock.
About Astronics Corporation
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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