Astronics (NASDAQ:ATRO) Coverage Initiated at Craig Hallum

Craig Hallum assumed coverage on shares of Astronics (NASDAQ:ATRO) in a research note issued on Friday, MarketBeat reports. The firm set a “buy” rating and a $60.00 price target on the aerospace company’s stock. Craig Hallum’s target price suggests a potential upside of 30.52% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on the stock. Zacks Research cut shares of Astronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a research note on Wednesday. Truist Financial raised shares of Astronics from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Friday, July 11th. Finally, Wall Street Zen lowered shares of Astronics from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 9th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $54.50.

Astronics Price Performance

Astronics stock opened at $45.97 on Friday. Astronics has a 12-month low of $14.13 and a 12-month high of $48.94. The stock has a market cap of $1.63 billion, a P/E ratio of -383.05 and a beta of 1.68. The company has a 50-day moving average price of $39.28 and a 200 day moving average price of $32.81. The company has a current ratio of 3.04, a quick ratio of 1.63 and a debt-to-equity ratio of 0.59.

Astronics (NASDAQ:ATRO) last released its quarterly earnings data on Wednesday, August 6th. The aerospace company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.05. Astronics had a negative net margin of 0.45% and a positive return on equity of 22.89%. The firm had revenue of $204.68 million during the quarter, compared to analysts’ expectations of $208.29 million. Sell-side analysts anticipate that Astronics will post 0.82 earnings per share for the current year.

Insider Transactions at Astronics

In related news, insider James Mulato sold 1,129 shares of Astronics stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $38.16, for a total value of $43,082.64. Following the completion of the transaction, the insider owned 1,066 shares in the company, valued at $40,678.56. The trade was a 51.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.39% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Astronics by 1.7% in the first quarter. Vanguard Group Inc. now owns 1,601,632 shares of the aerospace company’s stock worth $38,711,000 after acquiring an additional 27,025 shares during the last quarter. Millennium Management LLC lifted its position in shares of Astronics by 80.1% during the 1st quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock worth $18,054,000 after buying an additional 332,133 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Astronics by 3.1% during the 2nd quarter. Geode Capital Management LLC now owns 736,327 shares of the aerospace company’s stock worth $24,655,000 after buying an additional 22,134 shares during the last quarter. Senator Investment Group LP lifted its position in shares of Astronics by 7.6% during the 1st quarter. Senator Investment Group LP now owns 708,883 shares of the aerospace company’s stock worth $17,134,000 after buying an additional 50,000 shares during the last quarter. Finally, Earnest Partners LLC purchased a new stake in shares of Astronics during the 1st quarter worth approximately $12,774,000. Hedge funds and other institutional investors 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.