Astronics Corporation (ATRO) Receives Buy Rating from Canaccord Genuity
Astronics Corporation (NASDAQ:ATRO)‘s stock had its “buy” rating reiterated by stock analysts at Canaccord Genuity in a research report issued on Thursday. They presently have a $36.00 price target on the aerospace company’s stock. Canaccord Genuity’s target price would suggest a potential upside of 17.21% from the stock’s previous close.
Other equities analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Astronics Corporation from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Tuesday, July 4th. TheStreet downgraded shares of Astronics Corporation from a “b-” rating to a “c+” rating in a research note on Wednesday, June 7th. Finally, BidaskClub downgraded shares of Astronics Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. Astronics Corporation has an average rating of “Hold” and a consensus target price of $35.00.
Shares of Astronics Corporation (NASDAQ:ATRO) traded up 2.80% during mid-day trading on Thursday, reaching $31.58. 101,740 shares of the company’s stock traded hands. Astronics Corporation has a 12-month low of $23.95 and a 12-month high of $41.03. The company’s 50 day moving average is $27.74 and its 200 day moving average is $29.61. The company has a market cap of $906.38 million, a P/E ratio of 22.92 and a beta of 1.17.
Astronics Corporation (NASDAQ:ATRO) last posted its quarterly earnings data on Wednesday, August 2nd. The aerospace company reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.14). The company had revenue of $151.11 million for the quarter, compared to analysts’ expectations of $162.33 million. Astronics Corporation had a net margin of 6.73% and a return on equity of 12.12%. The business’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.50 earnings per share. On average, analysts predict that Astronics Corporation will post $1.42 EPS for the current fiscal year.
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Large investors have recently bought and sold shares of the company. Scout Investments Inc. purchased a new position in Astronics Corporation during the second quarter worth about $1,276,000. Bank of New York Mellon Corp raised its stake in Astronics Corporation by 2.0% during the first quarter. Bank of New York Mellon Corp now owns 98,920 shares of the aerospace company’s stock worth $3,139,000 after purchasing an additional 1,915 shares during the period. Teachers Advisors LLC raised its stake in Astronics Corporation by 2.0% during the first quarter. Teachers Advisors LLC now owns 37,532 shares of the aerospace company’s stock worth $1,191,000 after purchasing an additional 732 shares during the period. Geode Capital Management LLC raised its stake in Astronics Corporation by 10.9% during the first quarter. Geode Capital Management LLC now owns 345,325 shares of the aerospace company’s stock worth $10,956,000 after purchasing an additional 34,078 shares during the period. Finally, Tudor Investment Corp ET AL purchased a new position in Astronics Corporation during the first quarter worth about $240,000. 65.59% of the stock is currently owned by hedge funds and other institutional investors.
About Astronics Corporation
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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