Dougherty & Co Equities Analysts Reduce Earnings Estimates for Astronics Corp. (ATRO)
Astronics Corp. (NASDAQ:ATRO) – Equities researchers at Dougherty & Co cut their Q3 2016 EPS estimates for Astronics Corp. in a research note issued to investors on Monday. Dougherty & Co analyst R. Ryan now anticipates that the firm will post earnings of $0.45 per share for the quarter, down from their prior forecast of $0.50. Dougherty & Co also issued estimates for Astronics Corp.’s Q4 2016 earnings at $0.50 EPS and FY2017 earnings at $2.14 EPS.
Astronics Corp. (NASDAQ:ATRO) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.09. Astronics Corp. had a net margin of 9.55% and a return on equity of 21.44%. The firm had revenue of $164.40 million for the quarter, compared to analyst estimates of $162.17 million. During the same period last year, the business earned $0.77 EPS. Astronics Corp.’s revenue for the quarter was down 5.0% compared to the same quarter last year.
ATRO has been the subject of several other research reports. Zacks Investment Research lowered shares of Astronics Corp. from a “hold” rating to a “strong sell” rating in a research report on Monday. Canaccord Genuity reissued a “buy” rating on shares of Astronics Corp. in a research report on Thursday, August 4th. Finally, KeyCorp raised shares of Astronics Corp. from a “sector weight” rating to an “overweight” rating in a research report on Wednesday, June 29th.
Shares of Astronics Corp. (NASDAQ:ATRO) opened at 35.57 on Tuesday. The company’s 50-day moving average is $43.09 and its 200 day moving average is $38.61. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 16.57 and a beta of 1.18. Astronics Corp. has a 52 week low of $24.75 and a 52 week high of $48.00.
In other news, Director John B. Drenning sold 5,000 shares of the company’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $43.47, for a total value of $217,350.00. Following the completion of the transaction, the director now directly owns 52,039 shares in the company, valued at $2,262,135.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 16.03% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA increased its position in shares of Astronics Corp. by 25.3% in the third quarter. BNP Paribas Arbitrage SA now owns 3,581 shares of the company’s stock valued at $161,000 after buying an additional 723 shares during the period. Royal Bank of Canada increased its position in shares of Astronics Corp. by 1.1% in the second quarter. Royal Bank of Canada now owns 1,443,970 shares of the company’s stock valued at $48,027,000 after buying an additional 15,965 shares during the period. Balter Liquid Alternatives LLC purchased a new position in shares of Astronics Corp. during the second quarter valued at $248,000. Fiera Capital Corp purchased a new position in shares of Astronics Corp. during the second quarter valued at $3,191,000. Finally, Paloma Partners Management Co purchased a new position in shares of Astronics Corp. during the second quarter valued at $520,000. Institutional investors and hedge funds own 65.80% of the company’s stock.
Astronics Corp. Company Profile
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.
Receive News & Stock Ratings for Astronics Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Astronics Corp. and related stocks with our FREE daily email newsletter.