Astronics (NASDAQ:ATRO) Price Target Raised to $32.00

Astronics (NASDAQ:ATRO) had its price objective raised by Truist Financial from $24.00 to $32.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a hold rating on the aerospace company’s stock.

Separately, Wall Street Zen cut shares of Astronics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 21st.

Astronics Stock Up 6.7%

Shares of Astronics stock opened at $35.81 on Thursday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.46 and a current ratio of 2.83. The stock has a market capitalization of $1.27 billion, a PE ratio of -188.46 and a beta of 1.56. Astronics has a 52-week low of $14.13 and a 52-week high of $36.32. The company has a 50-day simple moving average of $26.95 and a two-hundred day simple moving average of $21.81.

Astronics (NASDAQ:ATRO) last issued its earnings results on Tuesday, May 6th. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.19. The business had revenue of $205.94 million during the quarter, compared to analysts’ expectations of $192.53 million. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. On average, analysts anticipate that Astronics will post 0.82 EPS for the current fiscal year.

Institutional Trading of Astronics

A number of large investors have recently made changes to their positions in ATRO. Earnest Partners LLC bought a new stake in shares of Astronics in the first quarter worth approximately $12,774,000. Millennium Management LLC grew its stake in shares of Astronics by 881.6% in the fourth quarter. Millennium Management LLC now owns 414,823 shares of the aerospace company’s stock worth $6,621,000 after acquiring an additional 372,565 shares during the period. Schonfeld Strategic Advisors LLC grew its stake in shares of Astronics by 58.7% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 881,504 shares of the aerospace company’s stock worth $14,069,000 after acquiring an additional 325,904 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Astronics by 493.7% in the fourth quarter. Ameriprise Financial Inc. now owns 363,286 shares of the aerospace company’s stock worth $5,798,000 after acquiring an additional 302,092 shares during the period. Finally, Envestnet Asset Management Inc. bought a new stake in shares of Astronics in the first quarter worth approximately $5,521,000. 56.68% of the stock is currently owned by institutional investors.

Astronics Company Profile

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.