Astronics (ATRO) Downgraded by BidaskClub

Astronics (NASDAQ:ATRO) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other research firms also recently commented on ATRO. SunTrust Banks reissued a “hold” rating and issued a $48.00 price objective on shares of Astronics in a research note on Friday, January 19th. Zacks Investment Research raised Astronics from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Tuesday, January 2nd. Canaccord Genuity reissued a “buy” rating and issued a $46.00 price objective on shares of Astronics in a research note on Tuesday, December 12th. Finally, Dougherty & Co increased their price objective on Astronics from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, December 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Astronics has a consensus rating of “Hold” and an average target price of $46.25.

Astronics (NASDAQ ATRO) traded up $0.19 during midday trading on Thursday, reaching $39.09. Astronics has a fifty-two week low of $23.95 and a fifty-two week high of $49.45. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.07 and a quick ratio of 1.57. The company has a market capitalization of $1,130.00, a PE ratio of 33.13, a PEG ratio of 1.96 and a beta of 1.58.

Astronics announced that its Board of Directors has initiated a share repurchase program on Monday, December 18th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

In other Astronics news, CEO Peter J. Gundermann sold 2,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $43.48, for a total value of $86,960.00. Following the completion of the sale, the chief executive officer now directly owns 31,595 shares of the company’s stock, valued at approximately $1,373,750.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $1,755,000.00. The disclosure for this sale can be found here. 16.45% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc increased its stake in shares of Astronics by 10.7% in the 2nd quarter. Legal & General Group Plc now owns 5,630 shares of the aerospace company’s stock worth $172,000 after acquiring an additional 546 shares during the last quarter. Aperio Group LLC purchased a new position in shares of Astronics during the 4th quarter worth $283,000. Tudor Investment Corp ET AL grew its holdings in shares of Astronics by 28.5% during the 2nd quarter. Tudor Investment Corp ET AL now owns 9,727 shares of the aerospace company’s stock worth $296,000 after purchasing an additional 2,158 shares during the period. Teacher Retirement System of Texas purchased a new position in shares of Astronics during the 4th quarter worth $308,000. Finally, Unison Advisors LLC purchased a new position in shares of Astronics during the 4th quarter worth $313,000. 65.57% of the stock is owned by institutional investors and hedge funds.

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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.

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