Astronics (NASDAQ:ATRO) Stock Rating Upgraded by Truist Financial

Astronics (NASDAQ:ATRO) was upgraded by stock analysts at Truist Financial to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts also recently issued reports on the company. Zacks Research upgraded Astronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Craig Hallum reiterated a “buy” rating on shares of Astronics in a report on Friday, January 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research note on Monday, April 20th. Finally, Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. Three research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $77.33.

Astronics Trading Up 1.2%

Shares of Astronics stock opened at $72.10 on Monday. The stock has a fifty day simple moving average of $72.45 and a 200 day simple moving average of $64.03. Astronics has a 12-month low of $23.25 and a 12-month high of $83.96. The company has a market capitalization of $2.57 billion, a P/E ratio of 93.64 and a beta of 1.10. 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 announced its quarterly 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. Astronics had a return on equity of 39.95% and a net margin of 3.41%.The business had revenue of $240.07 million during the quarter, compared to the consensus estimate of $237.11 million. During the same quarter in the prior year, the company posted $0.46 earnings per share. Astronics’s revenue was up 15.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Astronics will post 2.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB bought a new position in shares of Astronics during the 3rd quarter worth $4,137,000. Capital International Investors bought a new position in shares of Astronics during the 3rd quarter worth $64,173,000. Vanguard Group Inc. grew its stake in shares of Astronics by 5.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,936,166 shares of the aerospace company’s stock worth $88,309,000 after acquiring an additional 105,311 shares during the period. Principal Financial Group Inc. bought a new position in shares of Astronics during the 3rd quarter worth $2,204,000. Finally, Y Intercept Hong Kong Ltd grew its stake in shares of Astronics by 74.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 33,061 shares of the aerospace company’s stock worth $1,508,000 after acquiring an additional 14,160 shares during the period. Institutional investors own 56.68% of the company’s stock.

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.