Astronics (NASDAQ:ATRO) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Astronics (NASDAQ:ATRO) from a hold rating to a buy rating in a report released on Wednesday.

Separately, Truist Financial decreased their price target on Astronics from $20.00 to $17.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th.

Astronics Stock Performance

Shares of Astronics stock opened at $18.59 on Wednesday. Astronics has a one year low of $14.13 and a one year high of $23.74. The company has a 50-day simple moving average of $16.51 and a two-hundred day simple moving average of $18.41. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.46 and a current ratio of 2.83. The company has a market capitalization of $655.52 million, a PE ratio of -97.84 and a beta of 1.79.

Hedge Funds Weigh In On Astronics

A number of institutional investors have recently bought and sold shares of the business. State Street Corp boosted its stake in shares of Astronics by 6.7% in the third quarter. State Street Corp now owns 924,070 shares of the aerospace company’s stock worth $18,001,000 after buying an additional 58,356 shares during the last quarter. Geode Capital Management LLC increased its stake in Astronics by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 691,522 shares of the aerospace company’s stock worth $13,474,000 after buying an additional 13,469 shares in the last quarter. Needham Investment Management LLC increased its position in shares of Astronics by 9.2% during the third quarter. Needham Investment Management LLC now owns 267,500 shares of the aerospace company’s stock worth $5,211,000 after purchasing an additional 22,500 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Astronics by 16.4% in the fourth quarter. Bank of New York Mellon Corp now owns 108,231 shares of the aerospace company’s stock valued at $1,727,000 after buying an additional 15,242 shares during the last quarter. Finally, Skylands Capital LLC acquired a new stake in Astronics in the 4th quarter valued at about $1,622,000. 56.68% of the stock is owned by hedge funds and other institutional investors.

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.