AlphaQuest LLC Takes $351,000 Position in Astronics Corporation $ATRO

AlphaQuest LLC acquired a new stake in Astronics Corporation (NASDAQ:ATRO) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 7,698 shares of the aerospace company’s stock, valued at approximately $351,000.

Other large investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its stake in shares of Astronics by 147.6% in the second quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock worth $30,000 after purchasing an additional 533 shares during the period. Covestor Ltd lifted its position in Astronics by 25.4% in the third 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 period. Tripletail Wealth Management LLC acquired a new position in Astronics in the third quarter worth about $64,000. Penserra Capital Management LLC bought a new position in Astronics during the second quarter worth about $66,000. Finally, Osaic Holdings Inc. grew its stake in shares of Astronics by 30.0% in the 2nd quarter. Osaic Holdings Inc. now owns 2,294 shares of the aerospace company’s stock valued at $77,000 after purchasing an additional 529 shares during the period. Institutional investors own 56.68% of the company’s stock.

Astronics Trading Up 4.3%

ATRO stock opened at $76.58 on Friday. 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 Corporation has a twelve month low of $18.28 and a twelve month high of $81.89. The company has a market cap of $2.73 billion, a P/E ratio of -850.79 and a beta of 1.10. The business has a fifty day moving average of $62.96 and a 200-day moving average of $49.77.

Analyst Ratings Changes

Several equities analysts recently commented on ATRO shares. CJS Securities upgraded Astronics to a “strong-buy” rating in a research report on Thursday, December 11th. Craig Hallum reissued a “buy” rating on shares of Astronics in a report on Friday, January 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research note on Wednesday, January 21st. Truist Financial set a $75.00 target price on shares of Astronics in a research report on Friday, January 9th. Finally, TD Cowen began coverage on shares of Astronics in a report on Wednesday, November 26th. They set a “buy” rating for the company. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $66.67.

Astronics 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.