Astronics Co. (ATRO) Receives Consensus Rating of “Buy” from Brokerages

Astronics Co. (NASDAQ:ATRO) has earned an average recommendation of “Buy” from the six ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $46.25.

A number of research firms have issued reports on ATRO. BidaskClub downgraded Astronics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 12th. SunTrust Banks reiterated a “hold” rating and issued a $48.00 price objective on shares of Astronics in a report on Friday. Zacks Investment Research upgraded Astronics from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 17th. Canaccord Genuity restated a “buy” rating and set a $46.00 price target on shares of Astronics in a report on Tuesday, December 12th. Finally, Dougherty & Co raised their price target on Astronics from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, November 8th.

Astronics (ATRO) opened at $46.22 on Monday. 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 company has a market capitalization of $1,294.21, a P/E ratio of 39.17, a P/E/G ratio of 2.24 and a beta of 1.10. Astronics has a twelve month low of $23.95 and a twelve month high of $49.45.

Astronics (NASDAQ:ATRO) last announced its earnings results on Tuesday, November 7th. The aerospace company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.14). The business had revenue of $149.64 million for the quarter, compared to the consensus estimate of $154.90 million. Astronics had a net margin of 5.80% and a return on equity of 10.29%. Astronics’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.41 EPS. research analysts expect that Astronics will post 1.28 EPS for the current year.

Astronics declared that its Board of Directors has authorized a stock repurchase plan on Monday, December 18th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the aerospace company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically a sign 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 firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $39.00, for a total transaction of $1,755,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.45% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. boosted its position in shares of Astronics by 18.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 102,881 shares of the aerospace company’s stock valued at $4,267,000 after buying an additional 15,984 shares during the last quarter. 22NW LP purchased a new stake in shares of Astronics during the third quarter valued at $657,000. Royce & Associates LP boosted its position in Astronics by 12.9% in the third quarter. Royce & Associates LP now owns 95,145 shares of the aerospace company’s stock worth $2,831,000 after purchasing an additional 10,845 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Astronics by 2.2% in the third quarter. Dimensional Fund Advisors LP now owns 770,713 shares of the aerospace company’s stock worth $22,929,000 after purchasing an additional 16,881 shares during the last quarter. Finally, International Value Advisers LLC purchased a new position in Astronics in the third quarter worth about $12,133,000. 65.77% of the stock is currently owned by institutional investors.

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Astronics 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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