Astronics (NASDAQ:ATRO) Stock Rating Upgraded by Zacks Research

Astronics (NASDAQ:ATRO) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. TD Cowen assumed coverage on shares of Astronics in a research note on Wednesday, November 26th. They issued a “buy” rating on the stock. Truist Financial set a $75.00 target price on Astronics in a research report on Friday, January 9th. Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 10th. CJS Securities raised Astronics to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a report on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $66.67.

Astronics Stock Down 7.5%

ATRO opened at $74.37 on Tuesday. The stock’s fifty day simple moving average is $62.14 and its 200 day simple moving average is $49.20. Astronics has a 1-year low of $18.28 and a 1-year high of $81.89. The stock has a market cap of $2.65 billion, a PE ratio of -826.24 and a beta of 1.10. The company has a current ratio of 2.87, a quick ratio of 1.56 and a debt-to-equity ratio of 3.07.

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

Institutional Investors Weigh In On Astronics

Large investors have recently added to or reduced their stakes in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in Astronics by 47.4% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 25,650 shares of the aerospace company’s stock valued at $1,391,000 after acquiring an additional 8,250 shares in the last quarter. Versor Investments LP bought a new position in shares of Astronics in the fourth quarter worth $353,000. Pier 88 Investment Partners LLC increased its position in shares of Astronics by 20.1% in the fourth quarter. Pier 88 Investment Partners LLC now owns 17,330 shares of the aerospace company’s stock worth $940,000 after purchasing an additional 2,900 shares during the period. New York State Teachers Retirement System acquired a new position in Astronics in the fourth quarter valued at about $150,000. Finally, Pictet Asset Management Holding SA acquired a new position in Astronics in the fourth quarter valued at about $231,000. Institutional investors and hedge funds own 56.68% of the company’s stock.

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.