SunTrust Banks, Inc. Reiterates “Hold” Rating for Astronics Corporation (ATRO)
Astronics Corporation (NASDAQ:ATRO)‘s stock had its “hold” rating reissued by investment analysts at SunTrust Banks, Inc. in a report issued on Thursday. They presently have a $30.00 price objective on the aerospace company’s stock. SunTrust Banks, Inc.’s target price points to a potential downside of 3.26% from the stock’s current price.
Other research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Astronics Corporation from a “hold” rating to a “strong sell” rating in a research note on Friday, August 4th. BidaskClub lowered shares of Astronics Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $36.00 price objective on shares of Astronics Corporation in a research note on Thursday, October 5th. Two equities research 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 company presently has an average rating of “Hold” and an average price target of $33.33.
Shares of Astronics Corporation (ATRO) traded up 0.75% during midday trading on Thursday, reaching $31.01. The company’s stock had a trading volume of 65,940 shares. The company has a market capitalization of $890.02 million, a P/E ratio of 22.50 and a beta of 1.17. Astronics Corporation has a 1-year low of $23.95 and a 1-year high of $41.03. The stock has a 50 day moving average of $28.44 and a 200-day moving average of $29.67.
Astronics Corporation (NASDAQ:ATRO) last announced its quarterly earnings results on Wednesday, August 2nd. The aerospace company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.14). Astronics Corporation had a net margin of 6.73% and a return on equity of 12.12%. The firm had revenue of $151.11 million during the quarter, compared to analyst estimates of $162.33 million. During the same quarter in the previous year, the business posted $0.50 EPS. Astronics Corporation’s revenue for the quarter was down 8.1% compared to the same quarter last year. On average, equities research analysts anticipate that Astronics Corporation will post $1.41 earnings per share for the current year.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA increased its stake in shares of Astronics Corporation by 11.0% during the first quarter. BNP Paribas Arbitrage SA now owns 4,745 shares of the aerospace company’s stock valued at $151,000 after acquiring an additional 472 shares during the period. Legal & General Group Plc increased its stake in shares of Astronics Corporation by 12.0% during the first quarter. Legal & General Group Plc now owns 5,084 shares of the aerospace company’s stock valued at $161,000 after acquiring an additional 543 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Astronics Corporation by 37.9% during the first quarter. JPMorgan Chase & Co. now owns 7,534 shares of the aerospace company’s stock valued at $239,000 after acquiring an additional 2,069 shares during the period. Tudor Investment Corp ET AL acquired a new position in shares of Astronics Corporation during the first quarter valued at approximately $240,000. Finally, Marshall Wace North America L.P. acquired a new position in shares of Astronics Corporation during the second quarter valued at approximately $294,000. Institutional investors and hedge funds own 65.59% of the company’s stock.
About Astronics Corporation
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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