Astronics (NASDAQ:ATRO) Upgraded to “Strong-Buy” at Wall Street Zen

Astronics (NASDAQ:ATRO) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Monday.

A number of other equities analysts also recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a research note on Wednesday, October 8th. Truist Financial increased their price target on Astronics from $49.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Zacks Research raised Astronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Finally, Craig Hallum initiated coverage on Astronics in a research note on Friday, October 10th. They set a “buy” rating and a $60.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.00.

Astronics Stock Performance

NASDAQ ATRO opened at $47.48 on Monday. 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 has a 1-year low of $14.13 and a 1-year high of $53.42. The firm has a market capitalization of $1.69 billion, a P/E ratio of -395.63 and a beta of 1.63. The business’s 50-day simple moving average is $46.91 and its 200-day simple moving average is $38.42.

Astronics (NASDAQ:ATRO) last posted its earnings results on Tuesday, November 4th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.07. The firm had revenue of $211.45 million during the quarter, compared to the consensus estimate of $210.80 million. Astronics had a negative net margin of 0.45% and a positive return on equity of 22.89%. Astronics has set its FY 2025 guidance at EPS. Equities analysts predict that Astronics will post 0.82 EPS for the current year.

Insiders Place Their Bets

In other news, insider James Mulato sold 1,129 shares of the firm’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $38.16, for a total transaction of $43,082.64. Following the completion of the sale, the insider directly owned 1,066 shares in the company, valued at $40,678.56. This trade represents 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 at this hyperlink. 9.39% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Capital International Investors purchased a new stake in Astronics during the 3rd quarter worth approximately $64,173,000. Luxor Capital Group LP acquired a new stake in shares of Astronics during the third quarter worth approximately $52,698,000. Earnest Partners LLC acquired a new stake in shares of Astronics during the first quarter worth approximately $12,774,000. Hennessy Advisors Inc. bought a new stake in shares of Astronics in the second quarter worth $15,046,000. Finally, Millennium Management LLC increased its stake in shares of Astronics by 80.1% in the first 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. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Astronics Company Profile

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.