Astronics Corporation (NASDAQ:ATRO) Receives $77.33 Consensus Target Price from Brokerages

Astronics Corporation (NASDAQ:ATRO) has been given a consensus rating of “Buy” by the six ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $77.3333.

A number of research analysts have recently weighed in on ATRO shares. Truist Financial raised their target price on Astronics from $75.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research report on Monday, April 20th. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 28th. Craig Hallum reaffirmed a “buy” rating on shares of Astronics in a research report on Friday, January 9th. Finally, Zacks Research raised Astronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd.

Institutional Trading of Astronics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Sierra Summit Advisors LLC purchased a new stake in shares of Astronics during the first quarter valued at approximately $436,000. Y Intercept Hong Kong Ltd increased its position in shares of Astronics by 41.7% during the first quarter. Y Intercept Hong Kong Ltd now owns 26,683 shares of the aerospace company’s stock valued at $1,781,000 after acquiring an additional 7,849 shares during the last quarter. Peregrine Capital Management LLC purchased a new stake in shares of Astronics during the first quarter valued at approximately $7,575,000. Pictet Asset Management Holding SA increased its position in shares of Astronics by 18.8% during the first quarter. Pictet Asset Management Holding SA now owns 5,051 shares of the aerospace company’s stock valued at $337,000 after acquiring an additional 800 shares during the last quarter. Finally, OP Asset Management Ltd purchased a new stake in Astronics in the first quarter worth $1,389,000. 56.68% of the stock is owned by hedge funds and other institutional investors.

Astronics Stock Up 0.2%

ATRO stock opened at $73.41 on Friday. Astronics has a twelve month low of $21.74 and a twelve month high of $83.96. The company has a quick ratio of 1.71, a current ratio of 3.10 and a debt-to-equity ratio of 2.39. The stock’s 50 day moving average is $72.94 and its 200-day moving average is $63.55. The firm has a market capitalization of $2.62 billion, a PE ratio of 95.34 and a beta of 1.11.

Astronics (NASDAQ:ATRO) last posted its earnings results on Tuesday, February 24th. The aerospace company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.12. Astronics had a return on equity of 39.95% and a net margin of 3.41%.The company had revenue of $240.07 million for the quarter, compared to analyst estimates of $237.11 million. During the same quarter last year, the company earned $0.46 earnings per share. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. Sell-side analysts expect that Astronics will post 2.62 EPS for the current fiscal year.

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.