Astronics Corporation (NASDAQ:ATRO) Receives Average Recommendation of “Buy” from Brokerages

Astronics Corporation (NASDAQ:ATRO) has earned a consensus rating of “Buy” from the six brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $66.6667.

A number of research firms have commented on ATRO. Zacks Research upgraded shares of Astronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Wall Street Zen cut shares of Astronics from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Truist Financial set a $75.00 price objective on shares of Astronics in a research report on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a report on Wednesday, January 21st. Finally, CJS Securities upgraded Astronics to a “strong-buy” rating in a research note on Thursday, December 11th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATRO. Vanguard Group Inc. grew its holdings in Astronics by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 1,975,693 shares of the aerospace company’s stock valued at $107,162,000 after buying an additional 39,527 shares in the last quarter. Capital International Investors purchased a new position in Astronics during the third quarter valued at $64,173,000. Luxor Capital Group LP bought a new stake in Astronics in the 3rd quarter valued at $52,698,000. Millennium Management LLC lifted its stake in Astronics by 80.1% in the 1st quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock worth $18,054,000 after purchasing an additional 332,133 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Astronics by 3.1% during the 2nd quarter. Geode Capital Management LLC now owns 736,327 shares of the aerospace company’s stock valued at $24,655,000 after purchasing an additional 22,134 shares during the last quarter. 56.68% of the stock is currently owned by institutional investors.

Astronics Stock Up 4.3%

NASDAQ ATRO opened at $76.58 on Monday. Astronics has a 52 week low of $18.28 and a 52 week high of $81.89. The company has a quick ratio of 1.56, a current ratio of 2.87 and a debt-to-equity ratio of 3.07. The company has a market capitalization of $2.73 billion, a P/E ratio of -850.79 and a beta of 1.09. The stock’s 50-day moving average price is $62.96 and its 200-day moving average price is $49.88.

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.