Astronics (NASDAQ:ATRO) Trading 3.4% Higher on Analyst Upgrade

Shares of Astronics Co. (NASDAQ:ATROGet Free Report) rose 3.4% on Thursday after Truist Financial raised their price target on the stock from $24.00 to $32.00. Truist Financial currently has a hold rating on the stock. Astronics traded as high as $34.74 and last traded at $34.69. Approximately 128,690 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 447,779 shares. The stock had previously closed at $33.56.

Separately, Wall Street Zen lowered Astronics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 21st.

Read Our Latest Stock Analysis on Astronics

Institutional Trading of Astronics

A number of hedge funds have recently added to or reduced their stakes in ATRO. Signaturefd LLC boosted its position in Astronics by 88.5% in the first quarter. Signaturefd LLC now owns 1,446 shares of the aerospace company’s stock valued at $35,000 after buying an additional 679 shares in the last quarter. AlphaQuest LLC boosted its holdings in shares of Astronics by 355.5% during the 4th quarter. AlphaQuest LLC now owns 3,576 shares of the aerospace company’s stock valued at $57,000 after acquiring an additional 2,791 shares in the last quarter. CWM LLC boosted its stake in shares of Astronics by 192.2% during the first quarter. CWM LLC now owns 2,592 shares of the aerospace company’s stock valued at $63,000 after purchasing an additional 1,705 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Astronics by 167.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 4,156 shares of the aerospace company’s stock valued at $66,000 after purchasing an additional 2,600 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Astronics during the fourth quarter valued at about $73,000. Institutional investors and hedge funds own 56.68% of the company’s stock.

Astronics Stock Down 2.7%

The stock has a 50 day moving average price of $27.22 and a 200 day moving average price of $21.94. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -183.41 and a beta of 1.56.

Astronics (NASDAQ:ATROGet Free Report) last posted its earnings results on Tuesday, May 6th. The aerospace company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.25 by $0.19. The business had revenue of $205.94 million for the quarter, compared to the consensus estimate of $192.53 million. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. As a group, analysts forecast that Astronics Co. will post 0.82 EPS for the current year.

Astronics Company Profile

(Get Free Report)

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.

Further Reading

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