Astronics Corporation (NASDAQ:ATRO) Receives $66.67 Average PT from Brokerages

Astronics Corporation (NASDAQ:ATRO) has been given a consensus rating of “Buy” by the six analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $66.6667.

A number of equities research analysts have recently issued reports on ATRO shares. Zacks Research raised shares of Astronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Wall Street Zen cut shares of Astronics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 7th. Craig Hallum restated a “buy” rating on shares of Astronics in a research report on Friday, January 9th. CJS Securities raised Astronics to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, TD Cowen started coverage on Astronics in a report on Wednesday, November 26th. They issued a “buy” rating on the stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC increased its stake in shares of Astronics by 20.4% in the first quarter. AQR Capital Management LLC now owns 112,210 shares of the aerospace company’s stock worth $2,712,000 after buying an additional 18,975 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Astronics by 6.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,491 shares of the aerospace company’s stock worth $423,000 after acquiring an additional 1,069 shares during the last quarter. Millennium Management LLC increased its position in shares of Astronics by 80.1% in the first quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock valued at $18,054,000 after acquiring an additional 332,133 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Astronics by 26.1% during the first quarter. Goldman Sachs Group Inc. now owns 222,486 shares of the aerospace company’s stock valued at $5,377,000 after acquiring an additional 46,054 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Astronics by 22.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,791 shares of the aerospace company’s stock valued at $1,735,000 after acquiring an additional 13,104 shares during the last quarter. Institutional investors own 56.68% of the company’s stock.

Astronics Stock Up 1.4%

ATRO opened at $76.94 on Monday. The business’s fifty day simple moving average is $65.36 and its 200 day simple moving average is $51.11. Astronics has a 52 week low of $18.28 and a 52 week high of $81.89. The company has a quick ratio of 1.56, a current ratio of 2.87 and a debt-to-equity ratio of 3.07. The stock has a market cap of $2.74 billion, a PE ratio of -854.79 and a beta of 1.10.

About Astronics

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.