Astronics (NASDAQ:ATRO) Stock Rating Lowered by Wall Street Zen

Astronics (NASDAQ:ATRO) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Separately, Truist Financial cut their price target on shares of Astronics from $23.00 to $21.00 and set a “hold” rating on the stock in a report on Thursday, April 17th.

Astronics Trading Down 2.4%

Shares of NASDAQ:ATRO opened at $29.86 on Wednesday. The company has a 50 day moving average of $24.69 and a 200-day moving average of $20.27. The firm has a market cap of $1.06 billion, a P/E ratio of -157.15 and a beta of 1.44. Astronics has a twelve month low of $14.13 and a twelve month high of $31.15. The company has a current ratio of 2.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.72.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings results on Tuesday, May 6th. The aerospace company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.19. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. The company had revenue of $205.94 million during the quarter, compared to analyst estimates of $192.53 million. As a group, analysts anticipate that Astronics will post 0.82 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Robert S. Keane sold 77,099 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $24.55, for a total transaction of $1,892,780.45. Following the sale, the director now owns 6,346 shares in the company, valued at $155,794.30. The trade was a 92.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.83% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Signaturefd LLC boosted its holdings in shares of Astronics by 88.5% during the 1st quarter. Signaturefd LLC now owns 1,446 shares of the aerospace company’s stock worth $35,000 after buying an additional 679 shares during the period. AlphaQuest LLC boosted its holdings in shares of Astronics by 355.5% during the 4th quarter. AlphaQuest LLC now owns 3,576 shares of the aerospace company’s stock worth $57,000 after buying an additional 2,791 shares during the period. CWM LLC boosted its holdings in shares of Astronics by 192.2% during the 1st quarter. CWM LLC now owns 2,592 shares of the aerospace company’s stock worth $63,000 after buying an additional 1,705 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Astronics by 167.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 4,156 shares of the aerospace company’s stock worth $66,000 after buying an additional 2,600 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Astronics during the 4th quarter worth $73,000. Institutional investors and hedge funds own 56.68% of the company’s stock.

About Astronics

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.