Dougherty & Co Research Analysts Lower Earnings Estimates for Astronics Corp. (ATRO)
Astronics Corp. (NASDAQ:ATRO) – Research analysts at Dougherty & Co reduced their Q3 2016 EPS estimates for Astronics Corp. in a research note issued to investors on Monday. Dougherty & Co analyst R. Ryan now expects that the brokerage will post earnings of $0.45 per share for the quarter, down from their prior estimate of $0.50. Dougherty & Co also issued estimates for Astronics Corp.’s Q4 2016 earnings at $0.50 EPS and FY2017 earnings at $2.14 EPS.
Astronics Corp. (NASDAQ:ATRO) last announced its 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. The business had revenue of $164.40 million for the quarter, compared to analyst estimates of $162.17 million. Astronics Corp. had a return on equity of 21.44% and a net margin of 9.55%. The company’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.77 EPS.
Several other brokerages have also commented on ATRO. Canaccord Genuity lifted their price objective on Astronics Corp. from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, September 26th. Zacks Investment Research lowered Astronics Corp. from a “hold” rating to a “strong sell” rating in a report on Monday. Finally, KeyCorp raised Astronics Corp. from a “sector weight” rating to an “overweight” rating in a report on Wednesday, June 29th.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/11/dougherty-co-research-analysts-lower-earnings-estimates-for-astronics-corp-atro.html
Shares of Astronics Corp. (NASDAQ:ATRO) traded down 1.49% during trading on Tuesday, reaching $35.81. The company’s stock had a trading volume of 41,763 shares. The company has a 50 day moving average of $43.32 and a 200 day moving average of $38.63. The company has a market cap of $1.04 billion, a PE ratio of 16.68 and a beta of 1.18. Astronics Corp. has a 12-month low of $24.75 and a 12-month high of $48.00.
A number of institutional investors have recently added to or reduced their stakes in ATRO. TIAA CREF Investment Management LLC increased its position in Astronics Corp. by 20.4% in the first quarter. TIAA CREF Investment Management LLC now owns 93,983 shares of the company’s stock valued at $3,585,000 after buying an additional 15,897 shares during the period. Teachers Advisors Inc. increased its position in shares of Astronics Corp. by 9.4% in the first quarter. Teachers Advisors Inc. now owns 33,633 shares of the company’s stock valued at $1,283,000 after buying an additional 2,900 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Astronics Corp. by 1.3% in the first quarter. Franklin Resources Inc. now owns 1,241,528 shares of the company’s stock valued at $47,364,000 after buying an additional 16,294 shares during the last quarter. Mesirow Financial Investment Management US Value Equity increased its position in shares of Astronics Corp. by 62.0% in the first quarter. Mesirow Financial Investment Management US Value Equity now owns 8,374 shares of the company’s stock valued at $319,000 after buying an additional 3,206 shares during the last quarter. Finally, Royce & Associates LP acquired a new position in shares of Astronics Corp. during the first quarter valued at approximately $2,358,000. Institutional investors own 65.80% of the company’s stock.
In related news, Director John B. Drenning sold 5,000 shares of Astronics Corp. stock in a transaction on 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 directly owns 52,039 shares in the company, valued at $2,262,135.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 16.03% 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.
Receive News & Ratings for Astronics Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Astronics Corp. and related companies with MarketBeat.com's FREE daily email newsletter.