Astronics’ (NASDAQ:ATRO) “Hold” Rating Reiterated at SunTrust Banks

SunTrust Banks restated their hold rating on shares of Astronics (NASDAQ:ATRO) in a research note released on Tuesday, January 9th. They currently have a $44.00 price target on the aerospace company’s stock. SunTrust Banks also issued estimates for Astronics’ FY2018 earnings at $2.22 EPS and FY2019 earnings at $2.43 EPS.

A number of other equities analysts have also recently commented on ATRO. BidaskClub cut shares of Astronics from a strong-buy rating to a buy rating in a report on Friday, December 29th. Canaccord Genuity reaffirmed a buy rating and issued a $36.00 target price on shares of Astronics in a report on Thursday, October 5th. Dougherty & Co boosted their price objective on shares of Astronics from $35.00 to $40.00 and gave the company a buy rating in a research note on Wednesday, November 8th. Finally, Zacks Investment Research raised shares of Astronics from a sell rating to a hold rating in a research note on Friday, November 10th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $46.25.

Astronics (ATRO) opened at $46.22 on Tuesday. The company has a quick ratio of 1.57, a current ratio of 3.07 and a debt-to-equity ratio of 0.52. Astronics has a 12 month low of $23.95 and a 12 month high of $49.45. The stock has a market cap of $1,235.12, a P/E ratio of 39.17, a P/E/G ratio of 2.14 and a beta of 1.10.

Astronics (NASDAQ:ATRO) last released its quarterly earnings data on Tuesday, November 7th. The aerospace company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.14). Astronics had a return on equity of 10.29% and a net margin of 5.80%. The company had revenue of $149.64 million for the quarter, compared to analyst estimates of $154.90 million. During the same period in the previous year, the business posted $0.41 EPS. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. equities research analysts forecast that Astronics will post 1.29 EPS for the current fiscal year.

Astronics announced that its Board of Directors has approved a stock repurchase program on Monday, December 18th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

In other Astronics news, Director Robert J. Mckenna sold 45,000 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $39.00, for a total transaction of $1,755,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 16.45% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its position in shares of Astronics by 10.7% in the 2nd quarter. Legal & General Group Plc now owns 5,630 shares of the aerospace company’s stock worth $172,000 after buying an additional 546 shares in the last quarter. Connors Investor Services Inc. raised its stake in Astronics by 1.8% in the 2nd quarter. Connors Investor Services Inc. now owns 58,465 shares of the aerospace company’s stock valued at $1,781,000 after purchasing an additional 1,045 shares during the last quarter. Voya Investment Management LLC raised its stake in Astronics by 11.2% in the 2nd quarter. Voya Investment Management LLC now owns 10,719 shares of the aerospace company’s stock valued at $327,000 after purchasing an additional 1,078 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Astronics by 26.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,999 shares of the aerospace company’s stock valued at $183,000 after purchasing an additional 1,254 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in Astronics 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 last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

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About Astronics

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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