Astronics (NASDAQ:ATRO) Research Coverage Started at TD Cowen

TD Cowen initiated coverage on shares of Astronics (NASDAQ:ATRO) in a research note published on Wednesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $65.00 price objective on the aerospace company’s stock.

Other research analysts have also recently issued reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a report on Wednesday, October 8th. Zacks Research upgraded shares of Astronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Cowen began coverage on shares of Astronics in a research report on Wednesday. They set a “buy” rating on the stock. Truist Financial lifted their price target on shares of Astronics from $49.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Finally, Craig Hallum assumed coverage on Astronics in a report on Friday, October 10th. They issued a “buy” rating and a $60.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Astronics presently has an average rating of “Moderate Buy” and an average target price of $61.00.

Astronics Trading Down 0.5%

ATRO opened at $54.35 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.63 and a current ratio of 3.04. The stock’s 50 day moving average price is $48.13 and its 200-day moving average price is $39.15. Astronics has a one year low of $15.41 and a one year high of $55.29. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of -452.88 and a beta of 1.63.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Tuesday, November 4th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07. Astronics had a positive return on equity of 22.89% and a negative net margin of 0.45%.The company had revenue of $211.45 million during the quarter, compared to analysts’ expectations of $210.80 million. Astronics has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Astronics will post 0.82 EPS for the current year.

Insider Activity

In other news, insider James Mulato sold 1,129 shares of the business’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $38.16, for a total value of $43,082.64. Following the completion of the transaction, the insider directly owned 1,066 shares of the company’s stock, valued at approximately $40,678.56. The trade was a 51.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 9.39% of the company’s stock.

Hedge Funds Weigh In On Astronics

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATRO. Jones Financial Companies Lllp lifted its position in shares of Astronics by 166.7% during the third quarter. Jones Financial Companies Lllp now owns 752 shares of the aerospace company’s stock valued at $34,000 after buying an additional 470 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Astronics by 147.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock worth $30,000 after acquiring an additional 533 shares in the last quarter. US Bancorp DE lifted its position in Astronics by 41.0% during the third quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock valued at $44,000 after acquiring an additional 281 shares during the last quarter. Covestor Ltd boosted its stake in Astronics by 25.4% in the third quarter. Covestor Ltd now owns 1,068 shares of the aerospace company’s stock valued at $49,000 after acquiring an additional 216 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. grew its holdings in Astronics by 250.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,225 shares of the aerospace company’s stock worth $56,000 after purchasing an additional 875 shares during the last quarter. Hedge funds and other institutional investors own 56.68% of the company’s stock.

About Astronics

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.