Zacks Investment Research upgraded shares of Astronics Corporation (NASDAQ:ATRO) from a sell rating to a hold rating in a research report sent to investors on Friday.
According to Zacks, “Astronics Corporation is a manufacturer of specialized lighting and electronics for the cockpit, cabin and exteriors of military, commercial transport and private business jet aircraft. A major lighting and electronics supplier to the aircraft industry, its strategy is to expand from a components and subsystems supplier to an aircraft lighting systems integrator, increasing the value and content it provides to various aircraft platforms. Luminescent Systems Inc. is Astronics’ primary operating subsidiary which produces its aerospace and defense products. “
Several other research analysts also recently commented on the company. SunTrust Banks, Inc. reiterated a hold rating and set a $30.00 target price on shares of Astronics Corporation in a research note on Thursday, October 12th. BidaskClub downgraded Astronics Corporation from a sell rating to a strong sell rating in a research note on Monday, July 24th. Canaccord Genuity restated a buy rating on shares of Astronics Corporation in a research note on Friday, October 27th. Finally, Dougherty & Co boosted their price target on Astronics Corporation from $35.00 to $40.00 and gave the company a buy rating in a research note on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $37.25.
Astronics Corporation (NASDAQ ATRO) opened at $38.22 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.57 and a current ratio of 3.07. Astronics Corporation has a one year low of $23.95 and a one year high of $41.03. The company has a market capitalization of $1,096.95, a P/E ratio of 32.39, a PEG ratio of 1.89 and a beta of 1.04.
Astronics Corporation (NASDAQ:ATRO) last issued its earnings results on Tuesday, November 7th. The aerospace company reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.14). Astronics Corporation had a return on equity of 10.29% and a net margin of 5.80%. The business had revenue of $149.64 million for the quarter, compared to the consensus estimate of $154.90 million. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The business’s revenue was down 3.5% compared to the same quarter last year. research analysts anticipate that Astronics Corporation will post 1.35 earnings per share for the current fiscal year.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Paradice Investment Management LLC bought a new stake in Astronics Corporation in the 3rd quarter valued at $14,771,000. Citadel Advisors LLC boosted its stake in Astronics Corporation by 64.6% in the 3rd quarter. Citadel Advisors LLC now owns 95,129 shares of the aerospace company’s stock valued at $2,830,000 after purchasing an additional 37,329 shares during the period. Virginia Retirement Systems ET AL boosted its stake in Astronics Corporation by 25.9% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 55,831 shares of the aerospace company’s stock valued at $1,661,000 after purchasing an additional 11,500 shares during the period. Russell Investments Group Ltd. boosted its stake in Astronics Corporation by 141.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 44,324 shares of the aerospace company’s stock valued at $1,319,000 after purchasing an additional 25,994 shares during the period. Finally, Rhumbline Advisers boosted its stake in Astronics Corporation by 5.3% in the 3rd quarter. Rhumbline Advisers now owns 28,194 shares of the aerospace company’s stock valued at $839,000 after purchasing an additional 1,426 shares during the period. Institutional investors and hedge funds own 64.88% of the company’s stock.
Astronics Corporation Company Profile
Astronics Corporation is a supplier of products to the aerospace, defense, electronics and semiconductor industries. The Company’s products and services include electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems.
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