Astronics (NASDAQ:ATRO) Downgraded by StockNews.com to Hold

Astronics (NASDAQ:ATRO) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Separately, Truist Financial decreased their price target on shares of Astronics from $20.00 to $17.00 and set a “hold” rating for the company in a research note on Tuesday.

Astronics Stock Performance

Shares of ATRO stock traded up $0.84 during trading hours on Wednesday, hitting $16.91. The stock had a trading volume of 455,502 shares, compared to its average volume of 260,078. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46. The firm has a market capitalization of $596.28 million, a PE ratio of -89.00 and a beta of 1.79. The stock’s 50 day moving average is $16.34 and its 200 day moving average is $18.76. Astronics has a twelve month low of $14.13 and a twelve month high of $23.74.

Institutional Trading of Astronics

A number of hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC acquired a new position in shares of Astronics in the second quarter valued at approximately $857,000. Barclays PLC increased its stake in Astronics by 328.2% in the 3rd quarter. Barclays PLC now owns 45,313 shares of the aerospace company’s stock valued at $883,000 after buying an additional 34,730 shares during the period. Algert Global LLC raised its position in Astronics by 367.2% during the 3rd quarter. Algert Global LLC now owns 56,072 shares of the aerospace company’s stock worth $1,092,000 after buying an additional 44,070 shares during the last quarter. Black Swift Group LLC acquired a new stake in shares of Astronics in the 3rd quarter worth $756,000. Finally, Stifel Financial Corp purchased a new stake in shares of Astronics in the third quarter valued at about $212,000. 56.68% of the stock is owned by institutional investors and hedge funds.

About Astronics

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.