Wall Street Zen Upgrades Astronics (NASDAQ:ATRO) to “Strong-Buy”

Astronics (NASDAQ:ATRO) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Wednesday.

Other equities research analysts also recently issued reports about the stock. Cowen began coverage on shares of Astronics in a report on Wednesday, November 26th. They issued a “buy” rating for the company. TD Cowen began coverage on shares of Astronics in a report on Wednesday, November 26th. They issued a “buy” rating and a $65.00 target price on the stock. Truist Financial raised their target price on shares of Astronics from $49.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded Astronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.00.

Astronics Stock Performance

Shares of NASDAQ ATRO opened at $53.15 on Wednesday. Astronics has a 1 year low of $15.41 and a 1 year high of $55.28. The firm has a market cap of $1.89 billion, a P/E ratio of -590.49 and a beta of 1.12. The stock has a fifty day moving average price of $49.33 and a two-hundred day moving average price of $40.37. The company has a debt-to-equity ratio of 3.07, a quick ratio of 1.56 and a current ratio of 2.87.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings data on Tuesday, November 4th. The aerospace company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.07. Astronics had a positive return on equity of 29.65% and a negative net margin of 0.37%.The business had revenue of $211.45 million during the quarter, compared to analyst estimates of $210.80 million. Research analysts forecast that Astronics will post 0.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. IFP Advisors Inc lifted its holdings in shares of Astronics by 389.6% during the 3rd quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock valued at $26,000 after buying an additional 448 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Astronics by 147.6% during the second quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock valued at $30,000 after acquiring an additional 533 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Astronics by 166.7% in the third quarter. Jones Financial Companies Lllp now owns 752 shares of the aerospace company’s stock valued at $34,000 after acquiring an additional 470 shares during the last quarter. US Bancorp DE grew its position in Astronics by 41.0% in the third quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock worth $44,000 after acquiring an additional 281 shares in the last quarter. Finally, Covestor Ltd increased its stake in shares of Astronics by 25.4% during the 3rd quarter. Covestor Ltd now owns 1,068 shares of the aerospace company’s stock worth $49,000 after purchasing an additional 216 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.