Astronics (NASDAQ:ATRO) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Friday.

A number of other research firms also recently weighed in on ATRO. Zacks Investment Research raised shares of Astronics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Canaccord Genuity reissued a “buy” rating and set a $46.00 target price on shares of Astronics in a research report on Tuesday, December 12th. Dougherty & Co increased their target price on shares of Astronics from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, December 4th. Finally, SunTrust Banks reissued a “hold” rating and set a $35.00 target price on shares of Astronics in a research report on Friday, November 10th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $40.00.

Shares of Astronics (NASDAQ:ATRO) opened at $41.99 on Friday. The firm has a market cap of $1,184.72, a P/E ratio of 35.59, a price-to-earnings-growth ratio of 3.29 and a beta of 1.09. The company has a current ratio of 3.07, a quick ratio of 1.57 and a debt-to-equity ratio of 0.52. Astronics has a 52-week low of $23.95 and a 52-week high of $44.19.

Astronics (NASDAQ:ATRO) last released its earnings results on Tuesday, November 7th. The aerospace company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.14). The firm had revenue of $149.64 million for the quarter, compared to analyst estimates of $154.90 million. Astronics had a net margin of 5.80% and a return on equity of 10.29%. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 EPS. equities research analysts forecast that Astronics will post 1.29 earnings per share for the current fiscal year.

Astronics announced that its Board of Directors has approved a stock repurchase program on Monday, December 18th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

In other news, Director Robert J. Mckenna sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $39.00, for a total transaction of $1,755,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 16.45% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Legal & General Group Plc grew its position in shares of Astronics by 10.7% during the 2nd quarter. Legal & General Group Plc now owns 5,630 shares of the aerospace company’s stock worth $172,000 after buying an additional 546 shares during the period. Connors Investor Services Inc. grew its position in shares of Astronics by 1.8% during the 2nd quarter. Connors Investor Services Inc. now owns 58,465 shares of the aerospace company’s stock worth $1,781,000 after buying an additional 1,045 shares during the period. Voya Investment Management LLC grew its position in shares of Astronics by 11.2% during the 2nd quarter. Voya Investment Management LLC now owns 10,719 shares of the aerospace company’s stock worth $327,000 after buying an additional 1,078 shares during the period. Victory Capital Management Inc. grew its position in shares of Astronics by 0.7% during the 2nd quarter. Victory Capital Management Inc. now owns 177,611 shares of the aerospace company’s stock worth $5,412,000 after buying an additional 1,221 shares during the period. Finally, BNP Paribas Arbitrage SA grew its position in shares of Astronics by 26.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,999 shares of the aerospace company’s stock worth $183,000 after buying an additional 1,254 shares during the period. 65.77% of the stock is owned by institutional investors.

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About Astronics

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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