Astronics (NASDAQ:ATRO) Stock Rating Upgraded by Zacks Research

Astronics (NASDAQ:ATRO) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other equities analysts have also weighed in on ATRO. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a report on Wednesday, January 21st. Truist Financial set a $75.00 price objective on shares of Astronics in a research report on Friday, January 9th. CJS Securities upgraded shares of Astronics to a “strong-buy” rating in a research note on Thursday, December 11th. Craig Hallum reissued a “buy” rating on shares of Astronics in a report on Friday, January 9th. Finally, Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 10th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Astronics has a consensus rating of “Buy” and an average target price of $66.67.

Astronics Trading Down 7.5%

Astronics stock opened at $74.37 on Tuesday. Astronics has a 12 month low of $18.28 and a 12 month high of $81.89. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of -826.24 and a beta of 1.10. The business’s fifty day simple moving average is $62.14 and its two-hundred day simple moving average is $49.20. The company has a current ratio of 2.87, a quick ratio of 1.56 and a debt-to-equity ratio of 3.07.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings results on Tuesday, November 4th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.07. Astronics had a positive return on equity of 29.65% and a negative net margin of 0.37%.The firm had revenue of $211.45 million during the quarter, compared to analyst estimates of $210.80 million. As a group, equities analysts predict that Astronics will post 0.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Astronics

Institutional investors and hedge funds have recently bought and sold shares of the stock. IFP Advisors Inc raised its stake in shares of Astronics by 389.6% in the third quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock worth $26,000 after buying an additional 448 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Astronics by 147.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock worth $30,000 after acquiring an additional 533 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Astronics by 166.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 752 shares of the aerospace company’s stock worth $34,000 after acquiring an additional 470 shares in the last quarter. US Bancorp DE lifted its holdings in Astronics by 41.0% during the third quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock valued at $44,000 after purchasing an additional 281 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of Astronics by 25.4% in the third quarter. Covestor Ltd now owns 1,068 shares of the aerospace company’s stock worth $49,000 after purchasing an additional 216 shares during the period. 56.68% of the stock is currently owned by hedge funds and other institutional investors.

Astronics Company Profile

Astronics Corporation (NASDAQ: ATRO) is a global leader in the design and manufacture of advanced technologies primarily for the aerospace, defense and semiconductor industries. Headquartered in East Aurora, New York, the company was founded in 1968 and has grown through a combination of internal development and strategic acquisitions. Astronics operates multiple business units focused on power conversion, distribution and control; cabin electronics and connectivity; aircraft lighting and safety solutions; and automated test systems.

The company’s aerospace products include onboard power generation and management systems, in-flight entertainment and connectivity hardware, LED and fluorescent lighting for aircraft cabins and cockpits, and safety equipment such as escape slide power units.