Atom Investors LP Acquires Shares of 188,492 Astronics Corporation $ATRO

Atom Investors LP acquired a new stake in shares of Astronics Corporation (NASDAQ:ATRO) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 188,492 shares of the aerospace company’s stock, valued at approximately $10,224,000. Astronics makes up about 0.8% of Atom Investors LP’s portfolio, making the stock its 12th biggest position. Atom Investors LP owned approximately 0.53% of Astronics at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Allworth Financial LP boosted its position in Astronics by 57.1% during the 4th quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 192 shares in the last quarter. IFP Advisors Inc boosted its position in Astronics by 389.6% during the 3rd quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 448 shares in the last quarter. Quarry LP boosted its position in Astronics by 33.6% during the 4th quarter. Quarry LP now owns 568 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 143 shares in the last quarter. Leonteq Securities AG bought a new stake in Astronics during the 4th quarter valued at approximately $33,000. Finally, Jones Financial Companies Lllp boosted its position in Astronics by 166.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 752 shares of the aerospace company’s stock valued at $34,000 after acquiring an additional 470 shares in the last quarter. 56.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ATRO. Truist Financial raised Astronics to a “strong-buy” rating in a research report on Monday, May 4th. TD Cowen lifted their price objective on Astronics from $70.83 to $83.33 and gave the company a “buy” rating in a research report on Thursday, May 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a research report on Monday, April 20th. Wall Street Zen cut Astronics from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Zacks Research cut Astronics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Two 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 given a Sell rating to the company’s stock. According to data from MarketBeat, Astronics presently has a consensus rating of “Moderate Buy” and an average target price of $74.17.

Astronics Stock Performance

Shares of ATRO opened at $75.50 on Wednesday. The company has a quick ratio of 1.63, a current ratio of 2.97 and a debt-to-equity ratio of 2.07. The business’s 50 day moving average price is $66.30 and its 200-day moving average price is $59.58. Astronics Corporation has a 52 week low of $22.73 and a 52 week high of $83.24. The stock has a market cap of $3.25 billion, a P/E ratio of 76.78 and a beta of 1.15.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings results on Tuesday, May 12th. The aerospace company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Astronics had a return on equity of 49.34% and a net margin of 5.12%.The firm had revenue of $230.62 million for the quarter, compared to analysts’ expectations of $225.52 million. During the same period in the previous year, the firm posted $0.37 EPS. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. Equities research analysts anticipate that Astronics Corporation 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.