Astronics (NASDAQ:ATRO) Price Target Cut to $19.00

Astronics (NASDAQ:ATRO) had its target price dropped by research analysts at Truist Financial from $21.00 to $19.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “hold” rating on the aerospace company’s stock. Truist Financial’s price objective would indicate a potential upside of 8.88% from the stock’s current price.

Separately, StockNews.com raised Astronics from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th.

Astronics Stock Up 1.3 %

Shares of ATRO stock traded up $0.23 on Friday, reaching $17.45. 58,197 shares of the company’s stock traded hands, compared to its average volume of 125,245. The business’s 50 day moving average price is $17.76 and its two-hundred day moving average price is $16.89. The company has a market capitalization of $602.37 million, a P/E ratio of -21.28 and a beta of 1.64. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.38 and a current ratio of 2.72. Astronics has a 12-month low of $14.06 and a 12-month high of $22.44.

Astronics (NASDAQ:ATRO) last issued its earnings results on Thursday, May 2nd. The aerospace company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.14). Astronics had a negative return on equity of 6.53% and a negative net margin of 3.83%. During the same period last year, the business earned ($0.14) earnings per share. On average, equities analysts forecast that Astronics will post 0.71 earnings per share for the current year.

Insider Activity at Astronics

In other news, EVP Michael C. Kuehn sold 2,209 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $20.16, for a total transaction of $44,533.44. Following the transaction, the executive vice president now owns 14,248 shares in the company, valued at approximately $287,239.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Astronics news, EVP Michael C. Kuehn sold 2,209 shares of Astronics stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $20.16, for a total transaction of $44,533.44. Following the completion of the transaction, the executive vice president now directly owns 14,248 shares of the company’s stock, valued at $287,239.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael C. Kuehn sold 7,074 shares of Astronics stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $17.72, for a total transaction of $125,351.28. Following the completion of the transaction, the executive vice president now owns 12,875 shares of the company’s stock, valued at approximately $228,145. The disclosure for this sale can be found here. Corporate insiders own 10.86% of the company’s stock.

Institutional Investors Weigh In On Astronics

Several hedge funds and other institutional investors have recently made changes to their positions in ATRO. BKM Wealth Management LLC acquired a new position in Astronics in the fourth quarter valued at approximately $64,000. RiverPark Advisors LLC acquired a new stake in Astronics in the third quarter worth $75,000. Psagot Value Holdings Ltd. Israel increased its position in shares of Astronics by 856.5% in the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 4,352 shares of the aerospace company’s stock valued at $77,000 after buying an additional 3,897 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Astronics during the 3rd quarter worth $178,000. Finally, SG Americas Securities LLC bought a new position in Astronics during the third quarter worth about $185,000. 56.68% of the stock is owned by institutional investors and hedge funds.

Astronics Company Profile

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.