Astronics Corporation (NASDAQ:ATRO) Given Average Rating of “Moderate Buy” by Analysts

Astronics Corporation (NASDAQ:ATRO) has been given an average rating of “Moderate Buy” by the seven analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $66.6667.

ATRO has been the subject of several research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a research report on Wednesday, October 8th. CJS Securities upgraded Astronics to a “strong-buy” rating in a research note on Thursday, December 11th. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 10th. Craig Hallum reaffirmed a “buy” rating on shares of Astronics in a report on Friday, January 9th. Finally, Cowen assumed coverage on Astronics in a research report on Wednesday, November 26th. They issued a “buy” rating for the company.

Institutional Trading of Astronics

Several institutional investors have recently added to or reduced their stakes in ATRO. Ellsworth Advisors LLC bought a new position in Astronics in the 3rd quarter worth about $918,000. Assenagon Asset Management S.A. grew its holdings in Astronics by 112.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 84,656 shares of the aerospace company’s stock worth $3,861,000 after buying an additional 44,747 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in Astronics by 75.7% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 44,166 shares of the aerospace company’s stock valued at $2,014,000 after acquiring an additional 19,029 shares during the period. Longboard Asset Management LP bought a new stake in Astronics during the 2nd quarter valued at $222,000. Finally, Geode Capital Management LLC raised its stake in Astronics by 3.1% during the 2nd quarter. Geode Capital Management LLC now owns 736,327 shares of the aerospace company’s stock valued at $24,655,000 after acquiring an additional 22,134 shares in the last quarter. Institutional investors own 56.68% of the company’s stock.

Astronics Price Performance

ATRO stock opened at $71.58 on Thursday. The company has a market capitalization of $2.55 billion, a PE ratio of -795.24 and a beta of 1.10. The company has a quick ratio of 1.56, a current ratio of 2.87 and a debt-to-equity ratio of 3.07. The stock’s 50 day moving average is $54.10 and its two-hundred day moving average is $44.74. Astronics has a 52-week low of $16.20 and a 52-week high of $72.24.

Astronics (NASDAQ:ATRO) last released its quarterly earnings results on Tuesday, November 4th. The aerospace company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.07. The business had revenue of $211.45 million during the quarter, compared to the consensus estimate of $210.80 million. Astronics had a negative net margin of 0.37% and a positive return on equity of 29.65%. Analysts predict that Astronics will post 0.82 earnings per share for the current fiscal year.

About Astronics

Astronics Corporation (NASDAQ: ATRO) is a global leader in the design and manufacture of advanced technologies primarily for the aerospace, defense and semiconductor industries. Headquartered in East Aurora, New York, the company was founded in 1968 and has grown through a combination of internal development and strategic acquisitions. Astronics operates multiple business units focused on power conversion, distribution and control; cabin electronics and connectivity; aircraft lighting and safety solutions; and automated test systems.

The company’s aerospace products include onboard power generation and management systems, in-flight entertainment and connectivity hardware, LED and fluorescent lighting for aircraft cabins and cockpits, and safety equipment such as escape slide power units.