Astronics Corporation (NASDAQ:ATRO) Given Consensus Rating of “Buy” by Brokerages

Shares of Astronics Corporation (NASDAQ:ATRO) have been given a consensus recommendation of “Buy” by the six analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $77.3333.

ATRO has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research note on Wednesday, January 21st. Truist Financial raised their target price on shares of Astronics from $75.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Zacks Research raised shares of Astronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. CJS Securities upgraded shares of Astronics to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Craig Hallum reaffirmed a “buy” rating on shares of Astronics in a research report on Friday, January 9th.

Institutional Investors Weigh In On Astronics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP grew its stake in shares of Astronics by 33.6% in the fourth quarter. Quarry LP now owns 568 shares of the aerospace company’s stock valued at $31,000 after buying an additional 143 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Astronics by 19.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,137 shares of the aerospace company’s stock valued at $62,000 after acquiring an additional 188 shares during the last quarter. Allworth Financial LP grew its position in shares of Astronics by 57.1% in the 4th quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 192 shares during the period. Brighton Jones LLC increased its stake in shares of Astronics by 3.1% during the 3rd quarter. Brighton Jones LLC now owns 7,085 shares of the aerospace company’s stock worth $323,000 after purchasing an additional 216 shares during the last quarter. Finally, Covestor Ltd raised its holdings in shares of Astronics by 25.4% in the 3rd quarter. Covestor Ltd now owns 1,068 shares of the aerospace company’s stock valued at $49,000 after purchasing an additional 216 shares during the period. Institutional investors own 56.68% of the company’s stock.

Astronics Price Performance

ATRO stock opened at $75.52 on Friday. The stock has a 50-day moving average price of $72.29 and a two-hundred day moving average price of $55.44. Astronics has a 1 year low of $19.89 and a 1 year high of $83.96. The stock has a market cap of $2.69 billion, a PE ratio of 98.08 and a beta of 1.06. The company has a current ratio of 3.10, a quick ratio of 1.71 and a debt-to-equity ratio of 2.39.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Tuesday, February 24th. The aerospace company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.12. The company had revenue of $240.07 million during the quarter, compared to analysts’ expectations of $237.11 million. Astronics had a return on equity of 39.95% and a net margin of 3.41%.Astronics’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.46 earnings per share. Equities analysts forecast that Astronics will post 0.82 EPS for the current fiscal year.

About Astronics

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.