Astronics (NASDAQ:ATRO) Upgraded at StockNews.com

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

Separately, Truist Financial increased their price target on shares of Astronics from $17.00 to $23.00 and gave the company a “hold” rating in a research note on Wednesday.

Astronics Trading Down 0.2 %

Shares of ATRO stock opened at $24.45 on Thursday. Astronics has a 12-month low of $14.13 and a 12-month high of $25.54. The firm has a 50-day moving average price of $18.18 and a 200 day moving average price of $18.35. The company has a market capitalization of $862.16 million, a P/E ratio of -128.68 and a beta of 1.74. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72.

Astronics (NASDAQ:ATRO) last announced its earnings results on Tuesday, March 4th. The aerospace company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.21 by $0.27. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. The business had revenue of $208.54 million during the quarter, compared to analysts’ expectations of $194.91 million. During the same quarter in the prior year, the company posted $0.35 earnings per share. Research analysts forecast that Astronics will post 0.82 earnings per share for the current fiscal year.

Institutional Trading of Astronics

Large investors have recently added to or reduced their stakes in the company. AlphaQuest LLC lifted its stake in Astronics by 355.5% in the fourth quarter. AlphaQuest LLC now owns 3,576 shares of the aerospace company’s stock valued at $57,000 after acquiring an additional 2,791 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Astronics by 167.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 4,156 shares of the aerospace company’s stock valued at $66,000 after acquiring an additional 2,600 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Astronics in the fourth quarter valued at $73,000. Point72 Asset Management L.P. lifted its stake in Astronics by 337.9% in the third quarter. Point72 Asset Management L.P. now owns 5,356 shares of the aerospace company’s stock valued at $104,000 after acquiring an additional 4,133 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Astronics in the third quarter valued at about $106,000. Institutional investors and hedge funds own 56.68% of the company’s stock.

Astronics Company Profile

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.