Versor Investments LP Takes Position in Astronics Corporation $ATRO

Versor Investments LP purchased a new stake in shares of Astronics Corporation (NASDAQ:ATRO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,506 shares of the aerospace company’s stock, valued at approximately $353,000.

Other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc raised its stake in shares of Astronics by 389.6% during the 3rd quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 448 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Astronics by 147.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock valued at $30,000 after purchasing an additional 533 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Astronics by 166.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 752 shares of the aerospace company’s stock valued at $34,000 after purchasing an additional 470 shares during the period. US Bancorp DE raised its stake in shares of Astronics by 41.0% during the 3rd quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock valued at $44,000 after purchasing an additional 281 shares during the period. Finally, Covestor Ltd raised its stake in shares of Astronics by 25.4% during the 3rd quarter. Covestor Ltd now owns 1,068 shares of the aerospace company’s stock valued at $49,000 after purchasing an additional 216 shares during the period. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Astronics Price Performance

Shares of NASDAQ ATRO opened at $82.71 on Friday. The firm has a market capitalization of $2.95 billion, a P/E ratio of 70.09 and a beta of 1.10. The company has a quick ratio of 1.71, a current ratio of 3.10 and a debt-to-equity ratio of 2.39. The stock’s 50-day simple moving average is $72.28 and its two-hundred day simple moving average is $65.68. Astronics Corporation has a twelve month low of $27.27 and a twelve month high of $83.96.

Astronics (NASDAQ:ATRO) last announced its earnings results on Tuesday, May 12th. The aerospace company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. The business had revenue of $230.62 million for the quarter, compared to analyst estimates of $225.52 million. Astronics had a return on equity of 48.50% and a net margin of 5.12%.The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 EPS. As a group, equities analysts anticipate that Astronics Corporation will post 2.62 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on ATRO. Zacks Research upgraded Astronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research note on Monday, April 20th. Finally, Truist Financial upgraded Astronics to a “strong-buy” rating in a research note on Monday, May 4th. Three research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $77.33.

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.