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 note issued to investors on Monday,Zacks.com reports.

A number of other analysts have also issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a research note on Friday, July 17th. Truist Financial raised shares of Astronics to a “strong-buy” rating in a research note on Monday, May 4th. Wall Street Zen upgraded shares of Astronics from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 21st. Finally, TD Cowen upped their target price on shares of Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Three research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $74.17.

Astronics Trading Up 2.7%

ATRO opened at $70.89 on Monday. Astronics has a 52 week low of $22.73 and a 52 week high of $88.72. The business has a fifty day simple moving average of $73.24 and a 200-day simple moving average of $65.21. The firm has a market cap of $3.05 billion, a P/E ratio of 72.09 and a beta of 1.13. The company has a quick ratio of 1.63, a current ratio of 2.97 and a debt-to-equity ratio of 2.07.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.03. Astronics had a return on equity of 49.34% and a net margin of 5.12%.The firm had revenue of $230.62 million for the quarter, compared to the consensus estimate of $225.52 million. During the same quarter in the previous year, the business earned $0.37 EPS. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, equities analysts expect that Astronics will post 2.62 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Capital International Investors boosted its holdings in Astronics by 31.5% in the fourth quarter. Capital International Investors now owns 1,849,886 shares of the aerospace company’s stock valued at $100,338,000 after purchasing an additional 442,886 shares in the last quarter. State Street Corp increased its stake in Astronics by 26.2% in the fourth quarter. State Street Corp now owns 1,832,179 shares of the aerospace company’s stock valued at $99,377,000 after purchasing an additional 379,811 shares during the last quarter. Congruence Capital LLC acquired a new stake in Astronics during the fourth quarter worth approximately $19,658,000. Millennium Management LLC raised its holdings in Astronics by 80.1% during the first quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock worth $18,054,000 after purchasing an additional 332,133 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of Astronics by 4,791.1% during the 3rd quarter. Lazard Asset Management LLC now owns 236,140 shares of the aerospace company’s stock worth $10,770,000 after buying an additional 231,312 shares during the last quarter. Hedge funds and other 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.