Astronics Corporation (ATRO) Receives “Buy” Rating from Canaccord Genuity
Astronics Corporation (NASDAQ:ATRO)‘s stock had its “buy” rating reiterated by analysts at Canaccord Genuity in a research note issued on Thursday. They presently have a $36.00 price target on the aerospace company’s stock. Canaccord Genuity’s price target points to a potential upside of 17.21% from the company’s previous close.
ATRO has been the subject of several other research reports. TheStreet lowered shares of Astronics Corporation from a “b-” rating to a “c+” rating in a research report on Wednesday, June 7th. Zacks Investment Research upgraded shares of Astronics Corporation from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Tuesday, July 4th. Finally, BidaskClub lowered shares of Astronics Corporation from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $35.00.
Astronics Corporation (ATRO) traded up 2.96% during mid-day trading on Thursday, hitting $31.63. 111,140 shares of the stock were exchanged. The stock has a market capitalization of $907.81 million, a PE ratio of 22.95 and a beta of 1.17. Astronics Corporation has a 52 week low of $23.95 and a 52 week high of $41.03. The company has a 50-day moving average of $27.74 and a 200-day moving average of $29.61.
Astronics Corporation (NASDAQ:ATRO) last posted its earnings results on Wednesday, August 2nd. The aerospace company reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.14). The company had revenue of $151.11 million for the quarter, compared to analysts’ expectations of $162.33 million. Astronics Corporation had a net margin of 6.73% and a return on equity of 12.12%. The business’s revenue was down 8.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.50 earnings per share. On average, equities analysts predict that Astronics Corporation will post $1.42 EPS for the current fiscal year.
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Institutional investors have recently added to or reduced their stakes in the company. Scout Investments Inc. bought a new stake in shares of Astronics Corporation in the 2nd quarter worth about $1,276,000. Bank of New York Mellon Corp lifted its holdings in shares of Astronics Corporation by 2.0% in the 1st quarter. Bank of New York Mellon Corp now owns 98,920 shares of the aerospace company’s stock worth $3,139,000 after acquiring an additional 1,915 shares during the last quarter. Teachers Advisors LLC lifted its holdings in shares of Astronics Corporation by 2.0% in the 1st quarter. Teachers Advisors LLC now owns 37,532 shares of the aerospace company’s stock worth $1,191,000 after acquiring an additional 732 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Astronics Corporation by 10.9% in the 1st quarter. Geode Capital Management LLC now owns 345,325 shares of the aerospace company’s stock worth $10,956,000 after acquiring an additional 34,078 shares during the last quarter. Finally, Tudor Investment Corp ET AL bought a new stake in shares of Astronics Corporation in the 1st quarter worth about $240,000. Hedge funds and other institutional investors own 65.59% of the company’s stock.
Astronics Corporation 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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