Astronics (NASDAQ:ATRO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

According to Zacks, “Astronics Corporation is a manufacturer of specialized lighting and electronics for the cockpit, cabin and exteriors of military, commercial transport and private business jet aircraft. A major lighting and electronics supplier to the aircraft industry, its strategy is to expand from a components and subsystems supplier to an aircraft lighting systems integrator, increasing the value and content it provides to various aircraft platforms. Luminescent Systems Inc. is Astronics’ primary operating subsidiary which produces its aerospace and defense products. “

ATRO has been the subject of a number of other research reports. BidaskClub raised Astronics from a “sell” rating to a “hold” rating in a report on Thursday, November 29th. ValuEngine raised Astronics from a “sell” rating to a “hold” rating in a report on Friday, November 16th. Canaccord Genuity reduced their price target on Astronics from $44.00 to $38.00 and set a “hold” rating for the company in a report on Tuesday, October 16th. Finally, TheStreet raised Astronics from a “c+” rating to a “b-” rating in a report on Tuesday, October 9th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Astronics currently has a consensus rating of “Hold” and a consensus target price of $41.33.

Shares of ATRO stock traded up $0.39 on Wednesday, hitting $30.24. The company had a trading volume of 81,849 shares, compared to its average volume of 110,017. The stock has a market cap of $991.07 million, a PE ratio of 24.19, a price-to-earnings-growth ratio of 1.83 and a beta of 1.78. The company has a quick ratio of 1.79, a current ratio of 3.11 and a debt-to-equity ratio of 0.70. Astronics has a twelve month low of $27.56 and a twelve month high of $47.55.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings data on Thursday, November 8th. The aerospace company reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.05. The business had revenue of $212.67 million during the quarter, compared to analysts’ expectations of $208.59 million. Astronics had a return on equity of 13.19% and a net margin of 3.71%. The company’s revenue for the quarter was up 42.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 EPS. Sell-side analysts anticipate that Astronics will post 1.43 earnings per share for the current fiscal year.

In other news, EVP James S. Kramer sold 3,200 shares of the company’s stock in a transaction that occurred on Wednesday, November 21st. The stock was sold at an average price of $30.06, for a total value of $96,192.00. Following the completion of the sale, the executive vice president now directly owns 39,632 shares in the company, valued at $1,191,337.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 16.57% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of ATRO. Jane Street Group LLC acquired a new position in Astronics during the third quarter worth $230,000. Trexquant Investment LP acquired a new stake in shares of Astronics in the third quarter valued at $325,000. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Astronics in the third quarter valued at $353,000. Engineers Gate Manager LP acquired a new stake in shares of Astronics in the third quarter valued at $355,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Astronics in the third quarter valued at $412,000. Institutional investors own 57.65% of the company’s stock.

About Astronics

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, electronics, and semiconductor industries worldwide. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems; electrical power generation, distribution, and motions systems; aircraft structures; avionics products; system certification; and connectivity and other products.

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