Astronics (NASDAQ:ATRO) Rating Lowered to “Buy” at Wall Street Zen

Astronics (NASDAQ:ATRO) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

ATRO has been the subject of a number of other reports. TD Cowen initiated coverage on Astronics in a research note on Wednesday, November 26th. They set a “buy” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a research report on Wednesday, January 21st. CJS Securities raised shares of Astronics to a “strong-buy” rating in a report on Thursday, December 11th. Craig Hallum restated a “buy” rating on shares of Astronics in a research report on Friday, January 9th. Finally, Truist Financial set a $75.00 price objective on shares of Astronics in a research report on Friday, January 9th. Two 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. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $66.67.

Astronics Trading Up 4.3%

Shares of ATRO opened at $76.58 on Friday. The firm has a market cap of $2.73 billion, a P/E ratio of -850.79 and a beta of 1.10. The company has a debt-to-equity ratio of 3.07, a current ratio of 2.87 and a quick ratio of 1.56. Astronics has a 1 year low of $18.28 and a 1 year high of $81.89. The company has a 50 day simple moving average of $62.96 and a two-hundred day simple moving average of $49.66.

Astronics (NASDAQ:ATRO) last issued its earnings results on Tuesday, November 4th. The aerospace company reported $0.49 earnings per share 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 analyst estimates of $210.80 million. Astronics had a negative net margin of 0.37% and a positive return on equity of 29.65%. On average, equities analysts expect that Astronics will post 0.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ATRO. Nordea Investment Management AB purchased a new position in Astronics in the 3rd quarter worth about $4,137,000. Y Intercept Hong Kong Ltd grew its stake in Astronics by 74.9% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 33,061 shares of the aerospace company’s stock worth $1,508,000 after acquiring an additional 14,160 shares in the last quarter. Ellsworth Advisors LLC bought a new position in Astronics in the 3rd quarter worth about $918,000. Hennion & Walsh Asset Management Inc. increased its position in shares of Astronics by 75.7% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 44,166 shares of the aerospace company’s stock worth $2,014,000 after acquiring an additional 19,029 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of Astronics by 112.1% during the third quarter. Assenagon Asset Management S.A. now owns 84,656 shares of the aerospace company’s stock valued at $3,861,000 after acquiring an additional 44,747 shares in the last quarter. 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.