Astronics (NASDAQ:ATRO) Rating Increased to Strong-Buy at Wall Street Zen

Astronics (NASDAQ:ATRO) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Sunday.

Several other analysts also recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research report on Monday, April 20th. Zacks Research cut Astronics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. TD Cowen boosted their target price on Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Finally, Truist Financial raised shares of Astronics to a “strong-buy” rating in a report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.17.

Astronics Price Performance

Shares of ATRO opened at $80.56 on Friday. The firm has a 50 day simple moving average of $67.52 and a two-hundred day simple moving average of $60.21. 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 one year low of $22.73 and a one year high of $83.78. The company has a market cap of $3.46 billion, a P/E ratio of 81.93 and a beta of 1.15.

Astronics (NASDAQ:ATRO) last issued its earnings results on Tuesday, May 12th. The aerospace company reported $0.49 earnings per share for the quarter, beating 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 the consensus estimate of $225.52 million. During the same quarter last year, the business posted $0.37 EPS. The company’s revenue was up 12.0% compared to the same quarter last year. Research analysts forecast that Astronics will post 2.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ATRO. NewEdge Advisors LLC boosted its holdings in shares of Astronics by 5.2% during the 1st quarter. NewEdge Advisors LLC now owns 19,276 shares of the aerospace company’s stock valued at $1,286,000 after acquiring an additional 945 shares in the last quarter. Optiver Holding B.V. increased its holdings in Astronics by 3,921.4% in the 1st quarter. Optiver Holding B.V. now owns 563 shares of the aerospace company’s stock worth $38,000 after purchasing an additional 549 shares in the last quarter. Bank of America Corp DE raised its position in Astronics by 81.9% in the first quarter. Bank of America Corp DE now owns 199,722 shares of the aerospace company’s stock valued at $13,327,000 after purchasing an additional 89,950 shares during the last quarter. RBF Capital LLC bought a new position in Astronics in the first quarter valued at about $6,698,000. Finally, Sunbelt Securities Inc. boosted its stake in shares of Astronics by 8,950.0% during the first quarter. Sunbelt Securities Inc. now owns 1,086 shares of the aerospace company’s stock valued at $72,000 after purchasing an additional 1,074 shares in the last quarter. 56.68% of the stock is currently owned by institutional investors.

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.