Astronics (NASDAQ:ATRO) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Astronics (NASDAQ:ATRO) from a hold rating to a sell rating in a report released on Tuesday morning, Zacks.com reports.

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. “

Separately, Colliers Securities upgraded shares of Astronics from a neutral rating to a buy rating and set a $19.00 target price for the company in a research note on Monday, September 20th.

Shares of ATRO opened at $13.11 on Tuesday. Astronics has a twelve month low of $9.94 and a twelve month high of $20.93. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.72 and a current ratio of 3.26. The company has a 50 day moving average of $12.10 and a two-hundred day moving average of $13.89.

Astronics (NASDAQ:ATRO) last announced its earnings results on Monday, November 8th. The aerospace company reported ($0.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.07). The firm had revenue of $111.84 million during the quarter, compared to analyst estimates of $112.60 million. Astronics had a negative net margin of 10.63% and a negative return on equity of 12.75%. During the same quarter last year, the business earned ($0.17) earnings per share. Equities analysts expect that Astronics will post -0.87 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of ATRO. Pinz Capital Management LP purchased a new position in shares of Astronics during the second quarter worth $107,000. Metropolitan Life Insurance Co NY raised its holdings in shares of Astronics by 104,100.0% during the second quarter. Metropolitan Life Insurance Co NY now owns 7,294 shares of the aerospace company’s stock worth $128,000 after purchasing an additional 7,287 shares during the last quarter. MetLife Investment Management LLC raised its holdings in shares of Astronics by 150.4% during the second quarter. MetLife Investment Management LLC now owns 9,189 shares of the aerospace company’s stock worth $161,000 after purchasing an additional 5,520 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Astronics by 44.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 15,104 shares of the aerospace company’s stock worth $212,000 after purchasing an additional 4,636 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Astronics during the third quarter worth $225,000. Institutional investors and hedge funds own 58.88% of the company’s stock.

Astronics Company Profile

Astronics Corp. engages in the provision of electrical power generation and distribution systems. It includes motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification, and automated test systems. It operates through the Aerospace and Test Systems segments.

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