BidaskClub upgraded shares of Astronics (NASDAQ:ATRO) from a hold rating to a buy rating in a report published on Saturday, February 17th.
Other analysts also recently issued reports about the company. Zacks Investment Research upgraded Astronics from a hold rating to a buy rating and set a $46.00 price target for the company in a report on Tuesday, January 2nd. Canaccord Genuity restated a buy rating and set a $46.00 target price on shares of Astronics in a research note on Tuesday, December 12th. Dougherty & Co raised their target price on Astronics from $40.00 to $45.00 and gave the company a buy rating in a research note on Monday, December 4th. Finally, SunTrust Banks restated a hold rating and set a $48.00 target price on shares of Astronics in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $45.00.
Shares of Astronics (NASDAQ ATRO) traded down $0.93 during midday trading on Friday, reaching $39.16. The company had a trading volume of 89,907 shares, compared to its average volume of 140,191. Astronics has a 52-week low of $23.95 and a 52-week high of $49.45. The firm has a market cap of $1,138.88, a P/E ratio of 60.25, a P/E/G ratio of 2.32 and a beta of 1.58. The company has a current ratio of 3.06, a quick ratio of 1.60 and a debt-to-equity ratio of 0.82.
Astronics announced that its Board of Directors has authorized a stock repurchase plan on Monday, December 18th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the aerospace company to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
In other news, CEO Peter J. Gundermann sold 2,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $43.48, for a total transaction of $86,960.00. Following the completion of the sale, the chief executive officer now directly owns 31,595 shares in the company, valued at $1,373,750.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 12,000 shares of company stock valued at $495,540 over the last 90 days. Insiders own 16.45% of the company’s stock.
Several institutional investors have recently made changes to their positions in ATRO. Voya Investment Management LLC grew its stake in Astronics by 11.2% in the second quarter. Voya Investment Management LLC now owns 10,719 shares of the aerospace company’s stock worth $327,000 after purchasing an additional 1,078 shares in the last quarter. Rhumbline Advisers grew its stake in Astronics by 5.3% in the third quarter. Rhumbline Advisers now owns 28,194 shares of the aerospace company’s stock worth $839,000 after purchasing an additional 1,426 shares in the last quarter. Alliancebernstein L.P. grew its stake in Astronics by 6.1% in the second quarter. Alliancebernstein L.P. now owns 26,260 shares of the aerospace company’s stock worth $800,000 after purchasing an additional 1,500 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in Astronics by 8.4% in the third quarter. Gamco Investors INC. ET AL now owns 20,700 shares of the aerospace company’s stock worth $616,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Teachers Advisors LLC grew its stake in Astronics by 4.8% in the second quarter. Teachers Advisors LLC now owns 39,334 shares of the aerospace company’s stock worth $1,199,000 after purchasing an additional 1,802 shares in the last quarter. Institutional investors own 69.08% of the company’s stock.
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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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