Astronics Corporation (NASDAQ:ATRO) Receives $74.17 Average PT from Brokerages

Astronics Corporation (NASDAQ:ATRO) has received a consensus rating of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $74.1667.

Several brokerages have recently weighed in on ATRO. Truist Financial upgraded Astronics to a “strong-buy” rating in a report on Monday, May 4th. TD Cowen boosted their price objective on Astronics from $70.83 to $83.33 and gave the company a “buy” rating in a report on Thursday, May 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research report on Monday, April 20th. Zacks Research lowered Astronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 21st.

Astronics Stock Performance

Shares of NASDAQ:ATRO opened at $71.46 on Thursday. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 72.67 and a beta of 1.13. Astronics has a 12 month low of $22.73 and a 12 month high of $88.72. The firm’s 50-day moving average is $72.89 and its 200 day moving average is $64.42. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 2.07.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The company had revenue of $230.62 million for the quarter, compared to analyst estimates of $225.52 million. During the same period in the prior year, the company posted $0.37 EPS. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. Research analysts predict that Astronics will post 2.38 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ATRO. Quarry LP increased its stake in shares of Astronics by 33.6% during the fourth quarter. Quarry LP now owns 568 shares of the aerospace company’s stock valued at $31,000 after buying an additional 143 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Astronics by 19.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,137 shares of the aerospace company’s stock worth $62,000 after acquiring an additional 188 shares during the period. Allworth Financial LP lifted its stake in Astronics by 57.1% in the fourth quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 192 shares during the period. US Bancorp DE lifted its stake in Astronics by 41.0% in the third quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock worth $44,000 after acquiring an additional 281 shares during the period. Finally, Hazlett Burt & Watson Inc. grew its holdings in Astronics by 24.5% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 1,525 shares of the aerospace company’s stock worth $83,000 after acquiring an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 56.68% of the company’s stock.

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.