Brokerages Set Astronics Corporation (NASDAQ:ATRO) Target Price at $66.67

Shares of Astronics Corporation (NASDAQ:ATRO) have received a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has 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.

Several analysts recently commented on ATRO shares. Wall Street Zen raised shares of Astronics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 10th. Zacks Research cut Astronics from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. TD Cowen started coverage on Astronics in a research report on Wednesday, November 26th. They issued a “buy” rating on the stock. Truist Financial set a $75.00 price target on Astronics in a report on Friday, January 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research note on Wednesday, October 8th.

Astronics Stock Up 2.5%

ATRO stock opened at $76.03 on Thursday. Astronics has a 1-year low of $16.77 and a 1-year high of $76.14. The business’s 50 day simple moving average is $56.77 and its 200 day simple moving average is $46.18. The company has a current ratio of 2.87, a quick ratio of 1.56 and a debt-to-equity ratio of 3.07. The firm has a market capitalization of $2.71 billion, a PE ratio of -844.68 and a beta of 1.10.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings results on Tuesday, November 4th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, beating 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 business had revenue of $211.45 million during the quarter, compared to the consensus estimate of $210.80 million. As a group, research analysts anticipate that Astronics will post 0.82 EPS for the current year.

Hedge Funds Weigh In On Astronics

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