Zacks Investment Research cut shares of Astronics (NASDAQ:ATRO) from a strong-buy rating to a hold rating in a report published on Tuesday morning, Zacks.com reports.

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. “

Several other research analysts have also recently weighed in on ATRO. SunTrust Banks reduced their price target on shares of Broadcom to $307.00 and set a buy rating for the company in a report on Friday, June 14th. Seaport Global Securities upgraded shares of Saia from a neutral rating to a buy rating in a report on Wednesday, May 1st. ValuEngine lowered shares of Valero Energy from a hold rating to a sell rating in a research report on Wednesday, May 8th. Finally, BidaskClub lowered shares of Xencor from a sell rating to a strong sell rating in a research report on Tuesday, June 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $40.25.

Astronics stock opened at $38.55 on Tuesday. The firm has a market capitalization of $1.25 billion, a PE ratio of 27.34, a PEG ratio of 2.07 and a beta of 1.35. Astronics has a twelve month low of $27.56 and a twelve month high of $46.56. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.44 and a quick ratio of 1.50. The firm has a 50 day moving average of $40.87.

Astronics (NASDAQ:ATRO) last released its quarterly earnings results on Wednesday, May 8th. The aerospace company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.11. The company had revenue of $208.20 million during the quarter, compared to analysts’ expectations of $192.10 million. Astronics had a net margin of 14.61% and a return on equity of 15.16%. The business’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.11 earnings per share. On average, equities research analysts forecast that Astronics will post 1.89 EPS for the current fiscal year.

In other news, VP Mark Peabody sold 2,000 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $43.78, for a total value of $87,560.00. Following the sale, the vice president now owns 18,761 shares of the company’s stock, valued at $821,356.58. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last three months, insiders sold 9,000 shares of company stock worth $369,130. 15.80% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its position in Astronics by 196.6% during the first quarter. PNC Financial Services Group Inc. now owns 872 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 578 shares in the last quarter. Optimum Investment Advisors bought a new stake in Astronics during the first quarter worth $33,000. Quantamental Technologies LLC bought a new stake in Astronics during the first quarter worth $50,000. Bremer Bank National Association bought a new stake in Astronics during the first quarter worth $67,000. Finally, Advisor Group Inc. raised its position in Astronics by 378.6% during the fourth quarter. Advisor Group Inc. now owns 2,307 shares of the aerospace company’s stock worth $70,000 after acquiring an additional 1,825 shares in the last quarter. 64.92% of the stock is currently owned by institutional investors and hedge funds.

Astronics Company Profile

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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