Astronics (NASDAQ:ATRO) Stock Rating Lowered by Wall Street Zen

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

Several other analysts have also recently issued reports on ATRO. Zacks Research cut shares of Astronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Truist Financial raised shares of Astronics to a “strong-buy” rating in a research report on Monday, May 4th. TD Cowen upped their target price on shares of Astronics from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.00.

Astronics Trading Up 1.3%

Shares of Astronics stock opened at $96.00 on Friday. The company has a debt-to-equity ratio of 2.07, a current ratio of 2.97 and a quick ratio of 1.63. Astronics has a 1 year low of $27.27 and a 1 year high of $99.89. The company has a market capitalization of $3.44 billion, a P/E ratio of 81.36 and a beta of 1.15. The business has a 50 day moving average price of $78.72 and a 200 day moving average price of $70.82.

Astronics’s stock is set to split before the market opens on Monday, June 15th. The 6-5 split was recently announced. The newly minted shares will be payable to shareholders after the closing bell on Sunday, June 14th.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.04. The firm had revenue of $230.62 million during the quarter, compared to the consensus estimate of $225.52 million. Astronics had a return on equity of 49.34% and a net margin of 5.12%.The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 EPS. Sell-side analysts anticipate that Astronics will post 2.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Astronics

Several hedge funds have recently made changes to their positions in ATRO. AQR Capital Management LLC lifted its position in shares of Astronics by 20.4% in the 1st quarter. AQR Capital Management LLC now owns 112,210 shares of the aerospace company’s stock valued at $2,712,000 after acquiring an additional 18,975 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 buying an additional 1,069 shares in the last quarter. Millennium Management LLC raised its holdings in shares of 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. Goldman Sachs Group Inc. raised its holdings in shares of Astronics by 26.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 222,486 shares of the aerospace company’s stock valued at $5,377,000 after purchasing an additional 46,054 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Astronics by 22.3% during the 1st 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 purchasing an additional 13,104 shares in the last quarter. Hedge funds and other institutional investors own 56.68% of the company’s stock.

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.