Astronics Corporation $ATRO Holdings Cut by Teton Advisors LLC

Teton Advisors LLC decreased its holdings in Astronics Corporation (NASDAQ:ATRO) by 26.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,000 shares of the aerospace company’s stock after selling 20,000 shares during the period. Astronics comprises approximately 2.7% of Teton Advisors LLC’s investment portfolio, making the stock its 2nd biggest holding. Teton Advisors LLC’s holdings in Astronics were worth $3,804,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Astronics by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 1,975,693 shares of the aerospace company’s stock valued at $107,162,000 after acquiring an additional 39,527 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Astronics during the 4th quarter worth $2,279,000. Emerald Advisers LLC boosted its position in Astronics by 85.0% during the first quarter. Emerald Advisers LLC now owns 449,126 shares of the aerospace company’s stock valued at $29,970,000 after purchasing an additional 206,399 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its position in Astronics by 78.1% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 279,159 shares of the aerospace company’s stock valued at $18,628,000 after purchasing an additional 122,440 shares in the last quarter. Finally, Calamos Advisors LLC bought a new stake in Astronics during the fourth quarter valued at about $1,070,000. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Astronics Stock Down 1.6%

Astronics stock opened at $69.85 on Friday. The company has a debt-to-equity ratio of 2.07, a current ratio of 2.97 and a quick ratio of 1.63. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 71.03 and a beta of 1.13. Astronics Corporation has a 1-year low of $22.73 and a 1-year high of $88.72. The business has a fifty day moving average price of $73.37 and a 200-day moving average price of $65.41.

Astronics (NASDAQ:ATRO) last announced its earnings results on Tuesday, May 12th. The aerospace company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. Astronics had a return on equity of 49.34% and a net margin of 5.12%.The firm had revenue of $230.62 million for the quarter, compared to the consensus estimate of $225.52 million. During the same period in the previous year, the business earned $0.37 EPS. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. Equities research analysts forecast that Astronics Corporation will post 2.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ATRO shares. TD Cowen boosted their target price on shares of Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a report on Thursday, May 28th. Truist Financial upgraded shares of Astronics to a “strong-buy” rating in a report on Monday, May 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research report on Friday, July 17th. Zacks Research upgraded shares of Astronics from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. Finally, Wall Street Zen upgraded shares of Astronics from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 21st. Three analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Astronics has a consensus rating of “Buy” and an average target price of $74.17.

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.