Dougherty & Co Weighs in on Astronics Corp.’s Q3 2016 Earnings (ATRO)
Astronics Corp. (NASDAQ:ATRO) – Dougherty & Co lowered their Q3 2016 EPS estimates for Astronics Corp. in a report issued on Thursday. Dougherty & Co analyst R. Ryan now expects that the brokerage will post earnings of $0.50 per share for the quarter, down from their previous forecast of $0.57. Dougherty & Co also issued estimates for Astronics Corp.’s FY2016 earnings at $1.93 EPS.
Astronics Corp. (NASDAQ:ATRO) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.09. Astronics Corp. had a return on equity of 21.44% and a net margin of 9.55%. The company had revenue of $164.40 million for the quarter, compared to the consensus estimate of $162.17 million. During the same quarter in the prior year, the business earned $0.77 EPS. Astronics Corp.’s revenue was down 5.0% on a year-over-year basis.
A number of other equities research analysts also recently commented on the company. Canaccord Genuity lifted their price objective on Astronics Corp. from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, September 26th. KeyCorp upgraded Astronics Corp. from a “sector weight” rating to an “overweight” rating in a report on Wednesday, June 29th.
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Shares of Astronics Corp. (NASDAQ:ATRO) traded down 3.63% during midday trading on Friday, reaching $36.85. The company’s stock had a trading volume of 71,032 shares. The firm’s 50 day moving average is $43.72 and its 200 day moving average is $38.62. Astronics Corp. has a 52 week low of $24.75 and a 52 week high of $48.00. The firm has a market capitalization of $932.08 million, a price-to-earnings ratio of 14.93 and a beta of 1.18.
Hedge funds and other institutional investors have recently modified their holdings of the company. Columbia Wanger Asset Management LLC bought a new position in shares of Astronics Corp. during the second quarter worth approximately $8,542,000. Royal Bank of Canada boosted its position in Astronics Corp. by 10.2% in the first quarter. Royal Bank of Canada now owns 1,428,005 shares of the company’s stock valued at $54,479,000 after buying an additional 132,410 shares during the period. New Amsterdam Partners LLC NY acquired a new position in Astronics Corp. during the second quarter valued at approximately $4,144,000. Frontier Capital Management Co. LLC acquired a new position in Astronics Corp. during the second quarter valued at approximately $3,802,000. Finally, Fiera Capital Corp acquired a new position in Astronics Corp. during the second quarter valued at approximately $3,191,000. Institutional investors own 65.80% of the company’s stock.
In other Astronics Corp. news, Director John B. Drenning sold 5,000 shares of the business’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $43.47, for a total transaction of $217,350.00. Following the transaction, the director now owns 52,039 shares in the company, valued at $2,262,135.33. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 16.03% of the company’s stock.
About Astronics Corp.
Astronics Corporation is a supplier of products to the aerospace, defense, electronics and semiconductor industries. The Company’s products and services include electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems.
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