Truist Financial Issues Positive Forecast for Astronics (NASDAQ:ATRO) Stock Price

Astronics (NASDAQ:ATRO) had its price objective lifted by Truist Financial from $24.00 to $32.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a hold rating on the aerospace company’s stock.

Separately, Wall Street Zen cut shares of Astronics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 21st.

Astronics Trading Up 6.7%

Shares of ATRO opened at $35.81 on Thursday. The stock has a market capitalization of $1.27 billion, a P/E ratio of -188.46 and a beta of 1.56. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72. The firm has a fifty day simple moving average of $26.95 and a two-hundred day simple moving average of $21.81. Astronics has a twelve month low of $14.13 and a twelve month high of $36.32.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings results on Tuesday, May 6th. The aerospace company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.19. The business had revenue of $205.94 million during the quarter, compared to analysts’ expectations of $192.53 million. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. On average, research analysts anticipate that Astronics will post 0.82 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ATRO. Signaturefd LLC increased its stake in shares of Astronics by 88.5% in the 1st quarter. Signaturefd LLC now owns 1,446 shares of the aerospace company’s stock worth $35,000 after acquiring an additional 679 shares in the last quarter. AlphaQuest LLC increased its stake in shares of Astronics by 355.5% in the 4th quarter. AlphaQuest LLC now owns 3,576 shares of the aerospace company’s stock worth $57,000 after acquiring an additional 2,791 shares in the last quarter. CWM LLC increased its stake in shares of Astronics by 192.2% in the 1st quarter. CWM LLC now owns 2,592 shares of the aerospace company’s stock worth $63,000 after acquiring an additional 1,705 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Astronics by 167.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 4,156 shares of the aerospace company’s stock worth $66,000 after acquiring an additional 2,600 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Astronics in the 4th quarter worth about $73,000. 56.68% of the stock is currently owned by institutional investors.

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.