Astronics (NASDAQ:ATRO) Stock Price Target Lowered at TD Cowen

Astronics (NASDAQ:ATRO) had its price target reduced by TD Cowen from $90.00 to $80.00 in a research note issued to investors on Wednesday,Benzinga reports. TD Cowen currently has a buy rating on the aerospace company’s stock.

Other research analysts have also issued reports about the company. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a report on Sunday. KeyCorp initiated coverage on shares of Astronics in a report on Thursday, October 22nd. They issued a “sector weight” rating on the stock. Weiss Ratings lowered shares of Astronics from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Finally, Zacks Research cut shares of Astronics from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 7th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Astronics currently has an average rating of “Moderate Buy” and a consensus target price of $84.58.

Astronics Trading Down 2.7%

NASDAQ ATRO opened at $60.33 on Wednesday. Astronics has a 12-month low of $38.13 and a 12-month high of $94.46. The company has a fifty day simple moving average of $65.14 and a two-hundred day simple moving average of $67.44. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 1.57. The stock has a market cap of $2.59 billion, a P/E ratio of 23.60 and a beta of 1.37.

Astronics (NASDAQ:ATRO) last released its earnings results on Tuesday, November 10th. The aerospace company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.09. Astronics had a return on equity of 73.50% and a net margin of 14.21%. The firm had revenue of $271.68 million for the quarter, compared to the consensus estimate of $267.97 million. During the same period in the prior year, the firm earned $0.49 EPS. The firm’s revenue was up 41.0% on a year-over-year basis. On average, analysts forecast that Astronics will post 2.72 earnings per share for the current year.

Hedge Funds Weigh In On Astronics

Several institutional investors have recently made changes to their positions in the company. Hsbc Holdings PLC purchased a new stake in shares of Astronics during the 2nd quarter worth about $7,385,000. Bank of America Corp DE acquired a new stake in shares of Astronics during the 2nd quarter valued at about $13,223,000. Nicholas Investment Partners LP purchased a new position in shares of Astronics in the 2nd quarter valued at about $11,717,000. Public Employees Retirement System of Ohio purchased a new position in shares of Astronics in the 2nd quarter valued at about $1,457,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of Astronics by 153.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 180,916 shares of the aerospace company’s stock valued at $12,197,000 after purchasing an additional 109,574 shares in the last quarter. 56.68% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Astronics

Here are a few of the latest headlines about ATRO:

• Positive Sentiment: Third-quarter sales reached a record $271.7 million, and adjusted EPS of $0.81 topped the $0.72 analyst consensus. The company also reported stronger profitability and maintained an approximately $1 billion full-year revenue outlook. Astronics Q3 results
• Neutral Sentiment: TD Cowen lowered its price target from $90 to $80 but kept a Buy rating, signaling continued optimism while trimming its valuation outlook. TD Cowen rating information
• Negative Sentiment: Fourth-quarter revenue guidance of $255 million to $275 million includes a midpoint below the roughly $274 million consensus estimate. That cautious near-term outlook appears to be the main reason the strong quarterly results have not supported the shares. Report on Q4 guidance

Astronics Company Profile

Astronics Corporation designs and manufactures technologies for the aerospace, defense and other industries. Its aerospace products include aircraft lighting, electrical power generation and distribution systems, cabin electronics, connectivity solutions and avionics-related equipment used on commercial and military aircraft. The company also develops test systems, including automated equipment used to test aerospace and defense electronics. Astronics serves aircraft manufacturers, airlines, defense organizations and other customers, with products and services reaching markets around the world.