Astronics (NASDAQ:ATRO) Stock Price Expected to Rise, Truist Financial Analyst Says

Astronics (NASDAQ:ATRO) had its price target raised by research analysts at Truist Financial from $49.00 to $58.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the aerospace company’s stock. Truist Financial’s target price suggests a potential upside of 21.09% from the stock’s current price.

A number of other research firms have also commented on ATRO. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a research note on Wednesday, October 8th. Craig Hallum began coverage on Astronics in a research note on Friday, October 10th. They issued a “buy” rating and a $60.00 price objective on the stock. Zacks Research lowered Astronics from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Wall Street Zen lowered Astronics from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 9th. Two equities 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. According to data from MarketBeat.com, Astronics currently has a consensus rating of “Hold” and an average price target of $59.00.

Astronics Stock Performance

Shares of NASDAQ:ATRO opened at $47.90 on Wednesday. The business’s fifty day moving average price is $40.41 and its two-hundred day moving average price is $33.41. Astronics has a fifty-two week low of $14.13 and a fifty-two week high of $49.96. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of -399.13 and a beta of 1.68. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.04 and a quick ratio of 1.63.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings results on Wednesday, August 6th. The aerospace company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. Astronics had a positive return on equity of 22.89% and a negative net margin of 0.45%.The firm had revenue of $204.68 million for the quarter, compared to analysts’ expectations of $208.29 million. As a group, analysts predict that Astronics will post 0.82 EPS for the current fiscal year.

Insider Activity

In other news, insider James Mulato sold 1,129 shares of the company’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $38.16, for a total transaction of $43,082.64. Following the transaction, the insider owned 1,066 shares of the company’s stock, valued at $40,678.56. This represents a 51.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 9.39% of the stock is owned by company insiders.

Hedge Funds Weigh In On Astronics

Several large investors have recently made changes to their positions in the company. Ellsworth Advisors LLC acquired a new position in shares of Astronics during the third quarter valued at $918,000. CWM LLC lifted its stake in shares of Astronics by 57.8% during the third quarter. CWM LLC now owns 11,271 shares of the aerospace company’s stock valued at $514,000 after acquiring an additional 4,129 shares during the period. ARS Investment Partners LLC acquired a new position in shares of Astronics during the third quarter valued at $204,000. Brighton Jones LLC increased its holdings in Astronics by 3.1% in the third 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. Finally, USA Financial Formulas bought a new stake in Astronics in the third quarter valued at about $139,000. 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.