FY2018 EPS Estimates for Astronics Co. Lifted by Analyst (ATRO)

Astronics Co. (NASDAQ:ATRO) – Equities researchers at SunTrust Banks lifted their FY2018 EPS estimates for shares of Astronics in a research note issued on Monday. SunTrust Banks analyst M. Ciarmoli now forecasts that the aerospace company will earn $2.22 per share for the year, up from their prior forecast of $1.96. SunTrust Banks has a “Hold” rating and a $44.00 price target on the stock. SunTrust Banks also issued estimates for Astronics’ FY2019 earnings at $2.43 EPS.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings results on Tuesday, November 7th. The aerospace company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.14). Astronics had a net margin of 5.80% and a return on equity of 10.29%. The company had revenue of $149.64 million for the quarter, compared to analyst estimates of $154.90 million. During the same quarter last year, the business earned $0.41 EPS. The company’s revenue for the quarter was down 3.5% on a year-over-year basis.

Several other brokerages also recently commented on ATRO. Zacks Investment Research upgraded Astronics from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 17th. Canaccord Genuity reiterated a “buy” rating and set a $46.00 price target on shares of Astronics in a report on Tuesday, December 12th. BidaskClub downgraded Astronics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 12th. Finally, Dougherty & Co increased their price target on Astronics from $40.00 to $45.00 and gave the company a “buy” rating in a report on Monday, December 4th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $45.25.

Shares of Astronics (ATRO) traded down $0.13 during mid-day trading on Tuesday, reaching $40.94. The company’s stock had a trading volume of 94,600 shares, compared to its average volume of 121,920. Astronics has a one year low of $23.95 and a one year high of $44.19. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.57 and a current ratio of 3.07. The firm has a market capitalization of $1,150.00, a P/E ratio of 34.70, a PEG ratio of 2.13 and a beta of 1.10.

Astronics declared that its Board of Directors has approved a stock repurchase program on Monday, December 18th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the aerospace company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

In other news, Director Robert J. Mckenna sold 45,000 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $39.00, for a total value of $1,755,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 16.45% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Swiss National Bank boosted its position in shares of Astronics by 12.8% in the second quarter. Swiss National Bank now owns 36,200 shares of the aerospace company’s stock valued at $1,103,000 after acquiring an additional 4,100 shares during the period. Sei Investments Co. boosted its position in shares of Astronics by 7,291,550.0% in the third quarter. Sei Investments Co. now owns 145,833 shares of the aerospace company’s stock valued at $8,953,000 after acquiring an additional 145,831 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Astronics by 8.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 87,636 shares of the aerospace company’s stock valued at $2,671,000 after acquiring an additional 6,922 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Astronics by 69.7% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 36,068 shares of the aerospace company’s stock valued at $1,073,000 after acquiring an additional 14,810 shares during the period. Finally, State Street Corp boosted its position in shares of Astronics by 24.7% in the second quarter. State Street Corp now owns 641,261 shares of the aerospace company’s stock valued at $19,543,000 after acquiring an additional 127,165 shares during the period. 65.77% of the stock is owned by institutional investors.

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About Astronics

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.

Earnings History and Estimates for Astronics (NASDAQ:ATRO)

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