Analysts Set Astronics Corporation (NASDAQ:ATRO) Target Price at $89.00

Astronics Corporation (NASDAQ:ATRO) has received a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $74.1667.

Several equities analysts have recently issued reports on the company. Wall Street Zen lowered Astronics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 13th. TD Cowen upped their price objective on Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research note on Monday, April 20th. Truist Financial upgraded Astronics to a “strong-buy” rating in a research report on Monday, May 4th. Finally, Zacks Research downgraded Astronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th.

Hedge Funds Weigh In On Astronics

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATRO. NewEdge Advisors LLC increased its holdings in shares of Astronics by 5.2% during the first quarter. NewEdge Advisors LLC now owns 19,276 shares of the aerospace company’s stock worth $1,286,000 after buying an additional 945 shares in the last quarter. Optiver Holding B.V. lifted its stake in shares of Astronics by 3,921.4% in the 1st quarter. Optiver Holding B.V. now owns 563 shares of the aerospace company’s stock valued at $38,000 after acquiring an additional 549 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Astronics by 81.9% in the 1st quarter. Bank of America Corp DE now owns 199,722 shares of the aerospace company’s stock valued at $13,327,000 after acquiring an additional 89,950 shares during the last quarter. RBF Capital LLC acquired a new stake in shares of Astronics during the 1st quarter valued at $6,698,000. Finally, Sunbelt Securities Inc. boosted its holdings in shares of Astronics by 8,950.0% during the 1st quarter. Sunbelt Securities Inc. now owns 1,086 shares of the aerospace company’s stock valued at $72,000 after acquiring an additional 1,074 shares in the last quarter. Institutional investors own 56.68% of the company’s stock.

Astronics Price Performance

ATRO stock opened at $80.56 on Friday. The company’s 50-day moving average price is $67.12 and its two-hundred day moving average price is $60.07. The firm has a market cap of $3.46 billion, a P/E ratio of 81.93 and a beta of 1.15. The company has a quick ratio of 1.63, a current ratio of 2.97 and a debt-to-equity ratio of 2.07. Astronics has a 12 month low of $22.73 and a 12 month high of $83.78.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings results on Tuesday, May 12th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The business had revenue of $230.62 million for the quarter, compared to analyst estimates of $225.52 million. During the same quarter last year, the business posted $0.37 EPS. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, analysts anticipate that Astronics will post 2.23 earnings per share for the current fiscal year.

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.