Analysts Set Astronics Corporation (NASDAQ:ATRO) PT at $77.33

Shares of Astronics Corporation (NASDAQ:ATRO) have earned an average recommendation of “Buy” from the six analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $77.3333.

Several equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research report on Wednesday, January 21st. Craig Hallum reissued a “buy” rating on shares of Astronics in a research note on Friday, January 9th. Truist Financial raised their price objective on shares of Astronics from $75.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. CJS Securities raised Astronics to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, TD Cowen initiated coverage on Astronics in a research report on Wednesday, November 26th. They issued a “buy” rating for the company.

Astronics Price Performance

ATRO opened at $75.99 on Friday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.71 and a current ratio of 3.10. The stock has a market capitalization of $2.71 billion, a PE ratio of 98.69 and a beta of 1.06. The stock’s 50 day moving average price is $72.70 and its 200-day moving average price is $56.02. Astronics has a 52-week low of $19.89 and a 52-week high of $83.96.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings results on Tuesday, February 24th. The aerospace company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.12. The company had revenue of $240.07 million during the quarter, compared to analyst estimates of $237.11 million. Astronics had a return on equity of 39.95% and a net margin of 3.41%.The firm’s revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 earnings per share. On average, equities research analysts predict that Astronics will post 0.82 EPS for the current year.

Hedge Funds Weigh In On Astronics

A number of institutional investors have recently added to or reduced their stakes in ATRO. Capital International Investors purchased a new position in Astronics during the third quarter valued at $64,173,000. Luxor Capital Group LP purchased a new stake in shares of Astronics in the 3rd quarter worth about $52,698,000. State Street Corp increased its stake in shares of Astronics by 26.2% in the 4th quarter. State Street Corp now owns 1,832,179 shares of the aerospace company’s stock worth $99,377,000 after acquiring an additional 379,811 shares in the last quarter. Congruence Capital LLC purchased a new position in Astronics during the 4th quarter valued at about $19,658,000. Finally, Millennium Management LLC lifted its position in Astronics by 80.1% during the 1st quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock valued at $18,054,000 after acquiring an additional 332,133 shares during the period. Institutional investors own 56.68% of the company’s stock.

About Astronics

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.