Astronics (NASDAQ:ATRO) Upgraded at Zacks Research

Zacks Research upgraded shares of Astronics (NASDAQ:ATRO) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts have also weighed in on the stock. Wall Street Zen raised shares of Astronics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 10th. TD Cowen began coverage on Astronics in a research note on Wednesday, November 26th. They set a “buy” rating on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a report on Wednesday, January 21st. CJS Securities raised Astronics to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Craig Hallum reiterated a “buy” rating on shares of Astronics in a report on Friday, January 9th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Astronics has a consensus rating of “Buy” and an average price target of $66.67.

Astronics Price Performance

Shares of NASDAQ ATRO opened at $73.40 on Tuesday. Astronics has a fifty-two week low of $18.28 and a fifty-two week high of $81.89. The company has a market cap of $2.62 billion, a PE ratio of -815.46 and a beta of 1.10. The company has a debt-to-equity ratio of 3.07, a quick ratio of 1.56 and a current ratio of 2.87. The business has a 50-day simple moving average of $62.51 and a two-hundred day simple moving average of $49.37.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings data on Tuesday, November 4th. The aerospace company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.42 by $0.07. The firm had revenue of $211.45 million during the quarter, compared to analyst estimates of $210.80 million. Astronics had a negative net margin of 0.37% and a positive return on equity of 29.65%. As a group, equities analysts expect that Astronics will post 0.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Astronics

A number of hedge funds and other institutional investors have recently made changes to their positions in ATRO. Allworth Financial LP lifted its stake in shares of Astronics by 57.1% in the 4th quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 192 shares during the period. 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 buying an additional 216 shares in the last quarter. Covestor Ltd raised its position in shares of Astronics by 25.4% in the third quarter. Covestor Ltd now owns 1,068 shares of the aerospace company’s stock worth $49,000 after acquiring an additional 216 shares during the period. US Bancorp DE boosted its stake in shares of Astronics by 41.0% during the 3rd quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock worth $44,000 after acquiring an additional 281 shares in the last quarter. Finally, Ameritas Investment Partners Inc. grew its position in shares of Astronics by 13.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,091 shares of the aerospace company’s stock valued at $103,000 after acquiring an additional 369 shares during the period. Institutional investors and hedge funds own 56.68% of the company’s stock.

Astronics Company Profile

Astronics Corporation (NASDAQ: ATRO) is a global leader in the design and manufacture of advanced technologies primarily for the aerospace, defense and semiconductor industries. Headquartered in East Aurora, New York, the company was founded in 1968 and has grown through a combination of internal development and strategic acquisitions. Astronics operates multiple business units focused on power conversion, distribution and control; cabin electronics and connectivity; aircraft lighting and safety solutions; and automated test systems.

The company’s aerospace products include onboard power generation and management systems, in-flight entertainment and connectivity hardware, LED and fluorescent lighting for aircraft cabins and cockpits, and safety equipment such as escape slide power units.