Q4 2016 EPS Estimates for Astronics Corp. (ATRO) Decreased by Dougherty & Co
Astronics Corp. (NASDAQ:ATRO) – Stock analysts at Dougherty & Co reduced their Q4 2016 EPS estimates for Astronics Corp. in a research note issued on Thursday. Dougherty & Co analyst R. Ryan now anticipates that the firm will post earnings per share of $0.55 for the quarter, down from their previous forecast of $0.64. Dougherty & Co also issued estimates for Astronics Corp.’s FY2017 earnings at $2.23 EPS.
Several other brokerages have also recently commented on ATRO. KeyCorp upgraded shares of Astronics Corp. from a “sector weight” rating to an “overweight” rating in a research report on Wednesday, June 29th. Canaccord Genuity upped their target price on shares of Astronics Corp. from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, September 26th.
Shares of Astronics Corp. (NASDAQ:ATRO) opened at 36.62 on Monday. The firm has a market cap of $1.07 billion, a PE ratio of 17.06 and a beta of 1.18. Astronics Corp. has a 12 month low of $24.75 and a 12 month high of $48.00. The firm has a 50 day moving average price of $43.53 and a 200-day moving average price of $38.61.
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Astronics Corp. (NASDAQ:ATRO) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates 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 earned $164.40 million during the quarter, compared to analysts’ expectations of $162.17 million. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The business’s quarterly revenue was down 5.0% compared to the same quarter last year.
In related news, Director John B. Drenning sold 5,000 shares of the company’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $43.47, for a total value of $217,350.00. Following the completion of the sale, the director now owns 52,039 shares in the company, valued at approximately $2,262,135.33. The transaction was disclosed in a filing with the SEC, which is available through this link. 16.03% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its position in Astronics Corp. by 25.3% in the third quarter. BNP Paribas Arbitrage SA now owns 3,581 shares of the company’s stock worth $161,000 after buying an additional 723 shares during the period. Royal Bank of Canada boosted its position in Astronics Corp. by 1.1% in the second quarter. Royal Bank of Canada now owns 1,443,970 shares of the company’s stock worth $48,027,000 after buying an additional 15,965 shares during the period. Balter Liquid Alternatives LLC purchased a new position in Astronics Corp. during the second quarter worth about $248,000. Fiera Capital Corp purchased a new position in Astronics Corp. during the second quarter worth about $3,191,000. Finally, Paloma Partners Management Co purchased a new position in Astronics Corp. during the second quarter worth about $520,000. Hedge funds and other institutional investors own 65.80% of the company’s stock.
Astronics Corp. Company Profile
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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