BidaskClub downgraded shares of Astronics (NASDAQ:ATRO) from a buy rating to a hold rating in a research report report published on Thursday morning.

Several other equities analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Astronics from a sell rating to a hold rating in a report on Wednesday, August 8th. Canaccord Genuity reiterated a hold rating and set a $41.00 target price on shares of Astronics in a report on Friday, August 3rd. Finally, ValuEngine upgraded shares of Astronics from a hold rating to a buy rating in a report on Thursday, July 19th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Astronics presently has a consensus rating of Hold and a consensus price target of $42.75.

ATRO stock opened at $43.42 on Thursday. Astronics has a 52-week low of $28.12 and a 52-week high of $49.45. The company has a market cap of $1.21 billion, a PE ratio of 34.74, a price-to-earnings-growth ratio of 2.69 and a beta of 1.93. The company has a quick ratio of 1.68, a current ratio of 3.05 and a debt-to-equity ratio of 0.75.

Astronics (NASDAQ:ATRO) last released its earnings results on Friday, August 3rd. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.09. Astronics had a net margin of 2.50% and a return on equity of 10.28%. The firm had revenue of $208.60 million during the quarter, compared to analyst estimates of $195.91 million. During the same period last year, the business earned $0.26 earnings per share. The business’s revenue was up 38.1% on a year-over-year basis. sell-side analysts predict that Astronics will post 1.6 EPS for the current year.

In related news, CEO Peter J. Gundermann sold 47,322 shares of the business’s stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $45.00, for a total value of $2,129,490.00. Following the completion of the transaction, the chief executive officer now directly owns 54,743 shares in the company, valued at approximately $2,463,435. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider James S. Kramer sold 11,800 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $46.02, for a total transaction of $543,036.00. Following the completion of the transaction, the insider now owns 42,003 shares of the company’s stock, valued at $1,932,978.06. The disclosure for this sale can be found here. 16.57% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. raised its holdings in Astronics by 186.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 18,660 shares of the aerospace company’s stock worth $671,000 after acquiring an additional 12,145 shares during the last quarter. California Public Employees Retirement System raised its holdings in Astronics by 13.9% in the 2nd quarter. California Public Employees Retirement System now owns 21,529 shares of the aerospace company’s stock worth $774,000 after acquiring an additional 2,629 shares during the last quarter. United Services Automobile Association raised its holdings in Astronics by 58.0% in the 2nd quarter. United Services Automobile Association now owns 115,558 shares of the aerospace company’s stock worth $4,157,000 after acquiring an additional 42,410 shares during the last quarter. Citadel Advisors LLC raised its holdings in Astronics by 48.4% in the 2nd quarter. Citadel Advisors LLC now owns 36,396 shares of the aerospace company’s stock worth $1,309,000 after acquiring an additional 11,866 shares during the last quarter. Finally, Federated Investors Inc. PA purchased a new position in Astronics in the 2nd quarter worth approximately $5,172,000. Institutional investors own 71.14% of the company’s stock.

Astronics Company Profile

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, electronics, and semiconductor industries worldwide. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems; electrical power generation, distribution, and motions systems; aircraft structures; avionics products; system certification; and connectivity and other products.

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