Astronics Corporation (NASDAQ:ATRO) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Astronics Corporation (NASDAQ:ATRO) have been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $66.6667.

Several research analysts have recently weighed in on the stock. Truist Financial set a $75.00 price target on shares of Astronics in a research report on Friday, January 9th. Cowen assumed coverage on Astronics in a research report on Wednesday, November 26th. They set a “buy” rating for the company. Craig Hallum restated a “buy” rating on shares of Astronics in a report on Friday, January 9th. CJS Securities upgraded Astronics to a “strong-buy” rating in a report on Thursday, December 11th. Finally, TD Cowen started coverage on shares of Astronics in a research report on Wednesday, November 26th. They issued a “buy” rating and a $65.00 price objective on the stock.

Astronics Stock Performance

ATRO opened at $74.71 on Thursday. The company has a market cap of $2.66 billion, a price-to-earnings ratio of -830.02 and a beta of 1.10. Astronics has a 52-week low of $16.69 and a 52-week high of $75.80. The firm’s fifty day simple moving average is $55.70 and its two-hundred day simple moving average is $45.69. The company has a quick ratio of 1.56, a current ratio of 2.87 and a debt-to-equity ratio of 3.07.

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

Institutional Investors Weigh In On Astronics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital International Investors purchased a new stake in Astronics in the third quarter valued at approximately $64,173,000. Luxor Capital Group LP acquired a new position in Astronics during the 3rd quarter worth approximately $52,698,000. Hennessy Advisors Inc. purchased a new position in Astronics in the second quarter worth $15,046,000. Millennium Management LLC boosted its holdings in Astronics by 80.1% during the first quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock worth $18,054,000 after buying an additional 332,133 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Astronics by 659.8% during the 2nd quarter. American Century Companies Inc. now owns 339,947 shares of the aerospace company’s stock worth $11,381,000 after acquiring an additional 295,208 shares in the last quarter. 56.68% of the stock is currently owned by institutional investors and hedge funds.

Astronics Company Profile

Astronics Corporation (NASDAQ: ATRO) is a global leader in the design and manufacture of advanced technologies primarily for the aerospace, defense and semiconductor industries. Headquartered in East Aurora, New York, the company was founded in 1968 and has grown through a combination of internal development and strategic acquisitions. Astronics operates multiple business units focused on power conversion, distribution and control; cabin electronics and connectivity; aircraft lighting and safety solutions; and automated test systems.

The company’s aerospace products include onboard power generation and management systems, in-flight entertainment and connectivity hardware, LED and fluorescent lighting for aircraft cabins and cockpits, and safety equipment such as escape slide power units.