Astronics (NASDAQ:ATRO) Upgraded at StockNews.com

StockNews.com upgraded shares of Astronics (NASDAQ:ATRO) from a buy rating to a strong-buy rating in a research note issued to investors on Friday.

Separately, Truist Financial lowered their target price on shares of Astronics from $23.00 to $21.00 and set a “hold” rating for the company in a research note on Thursday, April 17th.

Astronics Stock Performance

Shares of NASDAQ ATRO opened at $27.52 on Friday. The company has a current ratio of 2.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.72. The company has a 50 day simple moving average of $23.69 and a two-hundred day simple moving average of $19.55. Astronics has a 12 month low of $14.13 and a 12 month high of $28.39. The stock has a market cap of $970.60 million, a price-to-earnings ratio of -144.83 and a beta of 1.44.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Tuesday, May 6th. The aerospace company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.19. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. The company had revenue of $205.94 million during the quarter, compared to analysts’ expectations of $192.53 million. As a group, analysts predict that Astronics will post 0.82 earnings per share for the current year.

Insider Activity at Astronics

In other news, Director Robert S. Keane sold 77,099 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $24.55, for a total transaction of $1,892,780.45. Following the transaction, the director now directly owns 6,346 shares in the company, valued at approximately $155,794.30. This trade represents a 92.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 9.39% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Astronics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC raised its stake in shares of Astronics by 328.2% during the 3rd quarter. Barclays PLC now owns 45,313 shares of the aerospace company’s stock worth $883,000 after buying an additional 34,730 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Astronics during the 4th quarter worth about $776,000. Royce & Associates LP lifted its position in Astronics by 18.7% during the 4th quarter. Royce & Associates LP now owns 1,150,355 shares of the aerospace company’s stock worth $18,360,000 after acquiring an additional 181,619 shares in the last quarter. Ironwood Investment Management LLC purchased a new position in shares of Astronics during the 4th quarter valued at approximately $439,000. Finally, EntryPoint Capital LLC raised its position in shares of Astronics by 229.7% during the 4th quarter. EntryPoint Capital LLC now owns 33,566 shares of the aerospace company’s stock valued at $536,000 after acquiring an additional 23,386 shares in the last quarter. 56.68% of the stock is currently owned by hedge funds and other 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.