Truist Financial Lowers Astronics (NASDAQ:ATRO) Price Target to $17.00

Astronics (NASDAQ:ATRO) had its target price reduced by investment analysts at Truist Financial from $20.00 to $17.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the aerospace company’s stock. Truist Financial’s target price suggests a potential upside of 5.33% from the stock’s current price.

Astronics Price Performance

Shares of NASDAQ:ATRO traded down $0.04 during trading on Tuesday, hitting $16.14. 28,869 shares of the company’s stock were exchanged, compared to its average volume of 196,193. The business’s 50-day simple moving average is $16.47 and its 200 day simple moving average is $18.80. The company has a market cap of $569.13 million, a price-to-earnings ratio of -84.94 and a beta of 1.79. Astronics has a 52-week low of $14.13 and a 52-week high of $23.74. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46.

Institutional Inflows and Outflows

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

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.