Astronics Corporation (NASDAQ:ATRO) Receives $77.33 Average PT from Brokerages

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

Several research firms have recently commented on ATRO. CJS Securities upgraded Astronics to a “strong-buy” rating in a report on Thursday, December 11th. Zacks Research upgraded Astronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research note on Wednesday, January 21st. Craig Hallum reiterated a “buy” rating on shares of Astronics in a research report on Friday, January 9th. Finally, Truist Financial increased their price objective on Astronics from $75.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th.

Institutional Investors Weigh In On Astronics

A number of large investors have recently added to or reduced their stakes in ATRO. AQR Capital Management LLC increased its position in shares of Astronics by 20.4% in the first quarter. AQR Capital Management LLC now owns 112,210 shares of the aerospace company’s stock valued at $2,712,000 after acquiring an additional 18,975 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Astronics by 6.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,491 shares of the aerospace company’s stock worth $423,000 after purchasing an additional 1,069 shares during the last quarter. Millennium Management LLC grew its stake in shares of Astronics by 80.1% in 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 during the last quarter. Goldman Sachs Group Inc. increased its holdings in Astronics by 26.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 222,486 shares of the aerospace company’s stock valued at $5,377,000 after purchasing an additional 46,054 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Astronics by 22.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,791 shares of the aerospace company’s stock valued at $1,735,000 after purchasing an additional 13,104 shares during the period. Institutional investors own 56.68% of the company’s stock.

Astronics Price Performance

ATRO stock opened at $69.84 on Tuesday. The firm has a market cap of $2.49 billion, a P/E ratio of 90.70 and a beta of 1.11. The firm’s fifty day moving average is $73.83 and its 200 day moving average is $59.76. Astronics has a 52 week low of $19.89 and a 52 week high of $83.96. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.71 and a current ratio of 3.10.

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