Astronics (NASDAQ:ATRO) Lowered to “Buy” Rating by Wall Street Zen

Astronics (NASDAQ:ATRO) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

ATRO has been the topic of a number of other reports. CJS Securities upgraded shares of Astronics to a “strong-buy” rating in a research note on Thursday, December 11th. Craig Hallum reaffirmed a “buy” rating on shares of Astronics in a research report on Friday, January 9th. Zacks Research raised Astronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research report on Wednesday, January 21st. Finally, TD Cowen initiated coverage on Astronics in a research note on Wednesday, November 26th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $66.67.

Astronics Stock Performance

ATRO stock opened at $76.58 on Friday. Astronics has a 1-year low of $18.28 and a 1-year high of $81.89. The business has a 50-day moving average price of $62.96 and a 200 day moving average price of $49.66. The company has a market capitalization of $2.73 billion, a P/E ratio of -850.79 and a beta of 1.10. The company has a debt-to-equity ratio of 3.07, a current ratio of 2.87 and a quick ratio of 1.56.

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

Institutional Investors Weigh In On Astronics

Large investors have recently modified their holdings of the business. Capital International Investors acquired a new position in shares of Astronics during the third quarter valued at about $64,173,000. Luxor Capital Group LP purchased a new stake in Astronics during the 3rd quarter worth approximately $52,698,000. Millennium Management LLC increased its stake in Astronics by 80.1% during the 1st quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock valued at $18,054,000 after purchasing an additional 332,133 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Astronics by 659.8% in the second quarter. American Century Companies Inc. now owns 339,947 shares of the aerospace company’s stock worth $11,381,000 after buying an additional 295,208 shares during the last quarter. Finally, SG Capital Management LLC acquired a new stake in shares of Astronics during the third quarter worth $11,617,000. Hedge funds and other institutional investors own 56.68% of the company’s stock.

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.