Truist Financial Cuts Astronics (NASDAQ:ATRO) Price Target to $21.00

Astronics (NASDAQ:ATRO) had its price target decreased by Truist Financial from $23.00 to $21.00 in a research report report published on Thursday morning,Benzinga reports. Truist Financial currently has a hold rating on the aerospace company’s stock.

Separately, StockNews.com raised Astronics from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th.

Astronics Price Performance

Shares of ATRO stock opened at $21.76 on Thursday. The firm’s 50 day moving average price is $22.56 and its two-hundred day moving average price is $19.18. The stock has a market cap of $767.45 million, a PE ratio of -114.52 and a beta of 1.26. Astronics has a 52-week low of $14.13 and a 52-week high of $26.63. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.46 and a current ratio of 2.83.

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

Insiders Place Their Bets

In related news, Director Robert S. Keane sold 77,099 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $24.55, for a total value of $1,892,780.45. Following the completion of the transaction, the director now directly owns 6,346 shares of the company’s stock, valued at approximately $155,794.30. This represents a 92.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.83% of the company’s stock.

Institutional Trading of Astronics

A number of institutional investors have recently modified their holdings of ATRO. Millennium Management LLC raised its position in Astronics by 881.6% in the 4th quarter. Millennium Management LLC now owns 414,823 shares of the aerospace company’s stock valued at $6,621,000 after buying an additional 372,565 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in shares of Astronics by 58.7% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 881,504 shares of the aerospace company’s stock valued at $14,069,000 after purchasing an additional 325,904 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Astronics by 493.7% in the fourth quarter. Ameriprise Financial Inc. now owns 363,286 shares of the aerospace company’s stock worth $5,798,000 after purchasing an additional 302,092 shares in the last quarter. Royce & Associates LP boosted its holdings in Astronics by 18.7% during the fourth quarter. Royce & Associates LP now owns 1,150,355 shares of the aerospace company’s stock worth $18,360,000 after purchasing an additional 181,619 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Astronics by 139.3% during the fourth quarter. Renaissance Technologies LLC now owns 286,700 shares of the aerospace company’s stock worth $4,576,000 after purchasing an additional 166,900 shares during the last quarter. 56.68% of the stock is currently owned by institutional investors.

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.