RBF Capital LLC Invests $6.70 Million in Astronics Corporation $ATRO

RBF Capital LLC bought a new stake in Astronics Corporation (NASDAQ:ATRO) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 100,372 shares of the aerospace company’s stock, valued at approximately $6,698,000. RBF Capital LLC owned approximately 0.28% of Astronics as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of ATRO. Vanguard Group Inc. grew its position in shares of Astronics by 2.0% during 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 position in Astronics in the fourth quarter valued at approximately $2,279,000. Emerald Advisers LLC lifted its stake in Astronics by 85.0% in 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 during the last quarter. Emerald Mutual Fund Advisers Trust grew its holdings 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 during the period. Finally, Calamos Advisors LLC bought a new position in Astronics during the fourth quarter valued at $1,070,000. 56.68% of the stock is currently owned by institutional investors.

Astronics Stock Down 4.7%

ATRO opened at $65.14 on Thursday. Astronics Corporation has a 12 month low of $22.73 and a 12 month high of $88.72. The company has a market cap of $2.80 billion, a PE ratio of 66.24 and a beta of 1.13. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 2.07. The company has a 50 day moving average of $73.37 and a 200 day moving average of $65.89.

Astronics (NASDAQ:ATRO) last issued its earnings results on Tuesday, May 12th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The business had revenue of $230.62 million for the quarter, compared to analysts’ expectations of $225.52 million. During the same quarter in the previous year, the firm posted $0.37 EPS. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. On average, sell-side analysts expect that Astronics Corporation will post 2.62 EPS for the current year.

Analysts Set New Price Targets

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

Astronics 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.