Zacks Investment Research upgraded shares of Astronics (NASDAQ:ATRO) from a hold rating to a buy rating in a research note released on Wednesday morning. The brokerage currently has $36.00 price objective on the aerospace company’s stock.

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. “

Separately, BidaskClub upgraded Astronics from a hold rating to a buy rating in a research note on Tuesday, December 18th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Astronics presently has an average rating of Hold and an average price target of $37.00.

Shares of ATRO stock opened at $31.37 on Wednesday. Astronics has a 1-year low of $27.56 and a 1-year high of $46.56. The stock has a market cap of $1.04 billion, a P/E ratio of 22.25, a P/E/G ratio of 1.87 and a beta of 1.84. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.84 and a current ratio of 2.92.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings data on Thursday, February 21st. The aerospace company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.03. Astronics had a return on equity of 12.95% and a net margin of 5.83%. The company had revenue of $202.92 million for the quarter, compared to the consensus estimate of $195.09 million. During the same quarter last year, the company earned ($0.18) earnings per share. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. On average, equities analysts anticipate that Astronics will post 1.71 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the company. CNB Bank purchased a new position in shares of Astronics in the fourth quarter worth about $33,000. Bremer Trust National Association purchased a new position in shares of Astronics in the fourth quarter worth about $61,000. Advisor Group Inc. raised its stake in shares of Astronics by 378.6% in the fourth quarter. Advisor Group Inc. now owns 2,307 shares of the aerospace company’s stock worth $70,000 after purchasing an additional 1,825 shares during the last quarter. First Interstate Bank raised its position in Astronics by 17.5% during the fourth quarter. First Interstate Bank now owns 3,555 shares of the aerospace company’s stock valued at $108,000 after acquiring an additional 530 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its position in Astronics by 87.9% during the fourth quarter. Great West Life Assurance Co. Can now owns 3,728 shares of the aerospace company’s stock valued at $110,000 after acquiring an additional 1,744 shares in the last quarter. Hedge funds and other institutional investors own 66.48% 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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