Petra Financial Advisors Inc. Acquires New Shares in Astronics Corporation $ATRO

Petra Financial Advisors Inc. acquired a new stake in shares of Astronics Corporation (NASDAQ:ATRO) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 9,792 shares of the aerospace company’s stock, valued at approximately $531,000.

Several other hedge funds also recently modified their holdings of the company. Fulton Breakefield Broenniman LLC acquired a new stake in shares of Astronics during the 4th quarter valued at $250,000. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Astronics by 15.0% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 50,805 shares of the aerospace company’s stock valued at $2,756,000 after acquiring an additional 6,639 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Astronics during the 4th quarter valued at $2,279,000. Diversified Trust Co. acquired a new stake in shares of Astronics during the 4th quarter valued at $223,000. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Astronics by 88.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,259 shares of the aerospace company’s stock valued at $789,000 after acquiring an additional 6,230 shares in the last quarter. Institutional investors and hedge funds own 56.68% of the company’s stock.

Astronics Stock Up 0.5%

Shares of NASDAQ:ATRO opened at $71.83 on Wednesday. The firm has a market cap of $2.56 billion, a P/E ratio of 93.29 and a beta of 1.11. The company has a quick ratio of 1.71, a current ratio of 3.10 and a debt-to-equity ratio of 2.39. Astronics Corporation has a 12-month low of $19.89 and a 12-month high of $83.96. The business has a fifty day simple moving average of $73.44 and a 200 day simple moving average of $60.67.

Astronics (NASDAQ:ATRO) last announced its earnings results on Tuesday, February 24th. The aerospace company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.12. The business had revenue of $240.07 million during the quarter, compared to analyst estimates 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 last year, the company earned $0.46 EPS. Analysts predict that Astronics Corporation will post 0.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ATRO. Zacks Research raised Astronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. Craig Hallum reissued a “buy” rating on shares of Astronics in a report on Friday, January 9th. CJS Securities raised Astronics to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research report on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $77.33.

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.