Astronics Co. (NASDAQ:ATRO) has received a consensus recommendation of “Hold” from the six analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $44.67.
ATRO has been the subject of several research reports. Zacks Investment Research raised Astronics from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research note on Tuesday, January 2nd. BidaskClub raised Astronics from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd. Dougherty & Co increased their price objective on Astronics from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, December 4th. Canaccord Genuity reaffirmed a “buy” rating and issued a $46.00 price target on shares of Astronics in a research note on Tuesday, December 12th. Finally, SunTrust Banks reaffirmed a “hold” rating and issued a $44.00 price target on shares of Astronics in a research note on Tuesday, January 9th.
Astronics (NASDAQ ATRO) traded down $0.40 during mid-day trading on Tuesday, hitting $38.51. 43,829 shares of the company traded hands, compared to its average volume of 137,467. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.60 and a current ratio of 3.06. The company has a market capitalization of $1,099.03, a PE ratio of 31.08, a price-to-earnings-growth ratio of 2.24 and a beta of 1.58. Astronics has a one year low of $23.95 and a one year high of $49.45.
Astronics announced that its Board of Directors has approved a share repurchase program on Monday, December 18th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the aerospace company to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
In related news, VP Mark Peabody sold 2,000 shares of the firm’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $44.16, for a total value of $88,320.00. Following the completion of the sale, the vice president now owns 23,368 shares of the company’s stock, valued at $1,031,930.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 12,000 shares of company stock valued at $495,540 in the last ninety days. 16.45% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in ATRO. Voya Investment Management LLC raised its holdings 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. State Street Corp raised its holdings in Astronics by 24.7% in the second quarter. State Street Corp now owns 641,261 shares of the aerospace company’s stock worth $19,543,000 after purchasing an additional 127,165 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Astronics by 17.4% in the second quarter. The Manufacturers Life Insurance Company now owns 18,013 shares of the aerospace company’s stock worth $549,000 after purchasing an additional 2,668 shares in the last quarter. First Trust Advisors LP bought a new position in Astronics in the third quarter worth $616,000. Finally, Gamco Investors INC. ET AL raised its holdings 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. 69.08% of the stock is owned by institutional investors.
ILLEGAL ACTIVITY WARNING: This piece was posted by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this piece on another website, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The original version of this piece can be read at https://stocknewstimes.com/2018/03/16/astronics-co-atro-receives-44-67-consensus-target-price-from-brokerages.html.
Astronics 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.
Receive News & Ratings for Astronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Astronics and related companies with MarketBeat.com's FREE daily email newsletter.