Q4 2016 EPS Estimates for Astronics Corp. Cut by Dougherty & Co (ATRO)
Astronics Corp. (NASDAQ:ATRO) – Stock analysts at Dougherty & Co dropped their Q4 2016 EPS estimates for shares of Astronics Corp. in a research note issued on Thursday. Dougherty & Co analyst R. Ryan now forecasts that the brokerage will post earnings per share of $0.55 for the quarter, down from their prior estimate of $0.64. Dougherty & Co also issued estimates for Astronics Corp.’s FY2017 earnings at $2.23 EPS.
A number of other equities analysts have also commented on ATRO. Canaccord Genuity lifted their price target on shares of Astronics Corp. from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, September 26th. Zacks Investment Research lowered shares of Astronics Corp. from a “hold” rating to a “strong sell” rating in a research report on Monday. Finally, KeyCorp raised shares of Astronics Corp. from a “sector weight” rating to an “overweight” rating in a research report on Wednesday, June 29th.
Astronics Corp. (NASDAQ:ATRO) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.09. The firm earned $164.40 million during the quarter, compared to analysts’ expectations of $162.17 million. Astronics Corp. had a return on equity of 21.44% and a net margin of 9.55%. The company’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.77 EPS.
A number of institutional investors have recently made changes to their positions in the company. Columbia Wanger Asset Management LLC bought a new position in shares of Astronics Corp. during the second quarter worth about $8,542,000. Royal Bank of Canada raised its position in shares of Astronics Corp. by 10.2% in the first quarter. Royal Bank of Canada now owns 1,428,005 shares of the company’s stock worth $54,479,000 after buying an additional 132,410 shares during the period. New Amsterdam Partners LLC NY bought a new position in shares of Astronics Corp. during the second quarter worth about $4,144,000. Frontier Capital Management Co. LLC bought a new position in shares of Astronics Corp. during the second quarter worth about $3,802,000. Finally, Fiera Capital Corp bought a new position in shares of Astronics Corp. during the second quarter worth about $3,191,000. 65.80% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director John B. Drenning sold 5,000 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $43.47, for a total transaction of $217,350.00. Following the transaction, the director now owns 52,039 shares of the company’s stock, valued at $2,262,135.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 16.03% of the company’s stock.
About Astronics Corp.
Astronics Corporation is a supplier of products to the aerospace, defense, electronics and semiconductor industries. The Company’s products and services include electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems.
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