Astronics Co. (NASDAQ:ATRO) – Investment analysts at SunTrust Banks cut their FY2019 earnings estimates for shares of Astronics in a report issued on Tuesday, November 5th. SunTrust Banks analyst M. Ciarmoli now expects that the aerospace company will post earnings per share of $0.95 for the year, down from their prior forecast of $1.27. SunTrust Banks has a “Sell” rating and a $26.00 price objective on the stock. SunTrust Banks also issued estimates for Astronics’ Q4 2019 earnings at $0.27 EPS, Q1 2020 earnings at $0.40 EPS, Q2 2020 earnings at $0.41 EPS, Q3 2020 earnings at $0.39 EPS, Q4 2020 earnings at $0.45 EPS and FY2020 earnings at $1.64 EPS.
Several other brokerages also recently commented on ATRO. TheStreet downgraded shares of Astronics from a “b-” rating to a “c+” rating in a research note on Monday, August 26th. Zacks Investment Research downgraded shares of Astronics from a “hold” rating to a “sell” rating in a research report on Wednesday, October 16th. Dougherty & Co lowered their price objective on shares of Astronics from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday. BidaskClub downgraded shares of Astronics from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Finally, ValuEngine downgraded shares of Astronics from a “hold” rating to a “sell” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. Astronics currently has an average rating of “Hold” and an average price target of $37.75.
NASDAQ:ATRO traded up $0.16 during trading hours on Friday, hitting $31.07. The stock had a trading volume of 172,424 shares, compared to its average volume of 240,472. Astronics has a one year low of $25.85 and a one year high of $44.34. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.77 and a current ratio of 2.97. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 22.04, a P/E/G ratio of 2.42 and a beta of 1.40. The business’s 50 day moving average is $29.84 and its 200-day moving average is $34.21.
Astronics (NASDAQ:ATRO) last issued its earnings results on Monday, August 5th. The aerospace company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.16). Astronics had a net margin of 12.68% and a return on equity of 7.90%. The firm had revenue of $189.10 million during the quarter, compared to the consensus estimate of $188.80 million. During the same period in the previous year, the company posted $0.49 EPS. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis.
Several hedge funds have recently modified their holdings of the company. Systematic Financial Management LP bought a new stake in shares of Astronics during the third quarter worth $551,000. Reinhart Partners Inc. increased its position in shares of Astronics by 31.7% during the third quarter. Reinhart Partners Inc. now owns 141,248 shares of the aerospace company’s stock worth $4,150,000 after acquiring an additional 34,030 shares in the last quarter. Paradice Investment Management LLC bought a new stake in shares of Astronics during the third quarter worth $2,394,000. SG Americas Securities LLC increased its position in shares of Astronics by 684.1% during the third quarter. SG Americas Securities LLC now owns 28,690 shares of the aerospace company’s stock worth $843,000 after acquiring an additional 25,031 shares in the last quarter. Finally, Mondrian Investment Partners LTD increased its position in shares of Astronics by 27.4% during the third quarter. Mondrian Investment Partners LTD now owns 123,918 shares of the aerospace company’s stock worth $3,641,000 after acquiring an additional 26,615 shares in the last quarter. 66.82% of the stock is owned by institutional investors.
In other news, CFO David C. Burney sold 4,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $26.20, for a total transaction of $104,800.00. Following the completion of the sale, the chief financial officer now owns 33,434 shares of the company’s stock, valued at $875,970.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.80% of the stock is owned by corporate insiders.
Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, electronics, and semiconductor industries worldwide. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems; electrical power generation, distribution, and motions systems; aircraft structures; avionics products; system certification; and connectivity and other products.
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