Luxor Capital Group LP Buys Shares of 1,155,398 Astronics Corporation $ATRO

Luxor Capital Group LP purchased a new position in shares of Astronics Corporation (NASDAQ:ATRO) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,155,398 shares of the aerospace company’s stock, valued at approximately $52,698,000. Astronics comprises 2.5% of Luxor Capital Group LP’s investment portfolio, making the stock its 6th biggest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in shares of Astronics by 3.1% in the 3rd quarter. Brighton Jones LLC now owns 7,085 shares of the aerospace company’s stock valued at $323,000 after purchasing an additional 216 shares during the last quarter. Covestor Ltd raised its stake in Astronics by 25.4% during the third quarter. Covestor Ltd now owns 1,068 shares of the aerospace company’s stock worth $49,000 after buying an additional 216 shares during the last quarter. US Bancorp DE lifted its holdings in Astronics by 41.0% in the third quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock valued at $44,000 after buying an additional 281 shares during the period. Ameritas Investment Partners Inc. boosted its position in Astronics by 13.6% during the second quarter. Ameritas Investment Partners Inc. now owns 3,091 shares of the aerospace company’s stock valued at $103,000 after acquiring an additional 369 shares during the last quarter. Finally, WINTON GROUP Ltd boosted its position in Astronics by 4.6% during the third quarter. WINTON GROUP Ltd now owns 8,644 shares of the aerospace company’s stock valued at $394,000 after acquiring an additional 383 shares during the last quarter. Institutional investors and hedge funds own 56.68% of the company’s stock.

Analysts Set New Price Targets

ATRO has been the subject of several research analyst reports. CJS Securities raised Astronics to a “strong-buy” rating in a research report on Thursday, December 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research note on Wednesday, January 21st. Truist Financial lifted their target price on Astronics from $75.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. TD Cowen initiated coverage on Astronics in a report on Wednesday, November 26th. They set a “buy” rating on the stock. Finally, Wall Street Zen upgraded shares of Astronics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $77.33.

Astronics Trading Up 7.5%

NASDAQ ATRO opened at $68.70 on Tuesday. The company has a quick ratio of 1.71, a current ratio of 3.10 and a debt-to-equity ratio of 2.39. Astronics Corporation has a 52 week low of $19.89 and a 52 week high of $83.96. The business has a 50 day moving average price of $74.47 and a 200-day moving average price of $57.45. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 89.22 and a beta of 1.06.

Astronics (NASDAQ:ATRO) last issued its earnings results on Tuesday, February 24th. The aerospace company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.12. Astronics had a return on equity of 39.95% and a net margin of 3.41%.The company had revenue of $240.07 million for the quarter, compared to analysts’ expectations of $237.11 million. During the same period last year, the business earned $0.46 EPS. Astronics’s quarterly revenue was up 15.1% compared to the same quarter last year. As a group, equities analysts expect that Astronics Corporation will post 0.82 earnings per share for the current fiscal year.

Astronics Profile

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.