Truist Financial Lowers Astronics (NASDAQ:ATRO) Price Target to $19.00

Astronics (NASDAQ:ATRO) had its price objective cut by equities researchers at Truist Financial from $21.00 to $19.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “hold” rating on the aerospace company’s stock. Truist Financial’s target price would indicate a potential upside of 3.43% from the stock’s previous close.

Separately, StockNews.com raised Astronics from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th.

Astronics Price Performance

Shares of NASDAQ:ATRO opened at $18.37 on Friday. The business has a fifty day moving average price of $17.75 and a 200-day moving average price of $16.93. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.72 and a quick ratio of 1.38. The company has a market capitalization of $634.13 million, a PE ratio of -23.86 and a beta of 1.64. Astronics has a 1-year low of $14.06 and a 1-year high of $22.44.

Astronics (NASDAQ:ATRO) last released its quarterly earnings data on Thursday, May 2nd. The aerospace company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.14). The firm had revenue of $185.07 million for the quarter, compared to the consensus estimate of $172.74 million. Astronics had a negative net margin of 3.51% and a negative return on equity of 6.02%. During the same quarter in the prior year, the business posted ($0.14) earnings per share. As a group, equities analysts expect that Astronics will post 0.71 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Michael C. Kuehn sold 7,074 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $17.72, for a total transaction of $125,351.28. Following the sale, the executive vice president now owns 12,875 shares of the company’s stock, valued at approximately $228,145. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Michael C. Kuehn sold 7,074 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $17.72, for a total transaction of $125,351.28. Following the transaction, the executive vice president now owns 12,875 shares in the company, valued at $228,145. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael C. Kuehn sold 2,209 shares of Astronics stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $20.16, for a total transaction of $44,533.44. Following the completion of the sale, the executive vice president now directly owns 14,248 shares of the company’s stock, valued at approximately $287,239.68. The disclosure for this sale can be found here. 10.86% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. BKM Wealth Management LLC purchased a new position in shares of Astronics in the fourth quarter worth approximately $64,000. RiverPark Advisors LLC purchased a new position in shares of Astronics during the 3rd quarter worth $75,000. Psagot Value Holdings Ltd. Israel grew its position in shares of Astronics by 856.5% during the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 4,352 shares of the aerospace company’s stock valued at $77,000 after acquiring an additional 3,897 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of Astronics in the 3rd quarter worth $178,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Astronics in the 3rd quarter worth $185,000. Institutional investors own 56.68% of the company’s stock.

About Astronics

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.