Astronics (NASDAQ:ATRO) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Astronics from “buy” to “strong buy.” Overall, analysts rate the stock “Moderate Buy,” with a consensus price target of $89.58.
• Analyst views are mixed: TD Cowen maintained a “buy” rating but cut its price target to $90 from $100, while Zacks Research and Weiss Ratings downgraded the stock to “hold.”
• Astronics reported quarterly EPS of $0.70, above the $0.59 consensus estimate, and revenue of $259.96 million, up 46.9% year over year.

Astronics (NASDAQ:ATRO - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Sunday, Wall Street Zen reports.

A number of other research analysts also recently commented on the company. TD Cowen reaffirmed a "buy" rating and set a $90.00 target price (down from $100.00) on shares of Astronics in a report on Friday, October 9th. Zacks Research lowered Astronics from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 7th. KeyCorp initiated coverage on Astronics in a report on Thursday, October 22nd. They issued a "sector weight" rating for the company. Finally, Weiss Ratings lowered Astronics from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Astronics currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.58.

Astronics Price Performance

Shares of ATRO opened at $54.71 on Friday. The firm has a market capitalization of $2.35 billion, a PE ratio of 32.18 and a beta of 1.37. The stock's 50 day moving average is $65.96 and its two-hundred day moving average is $67.49. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 1.57. Astronics has a twelve month low of $37.42 and a twelve month high of $94.46.

Astronics (NASDAQ:ATRO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The aerospace company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.59 by $0.11. The business had revenue of $259.96 million for the quarter, compared to analysts' expectations of $245.30 million. Astronics had a net margin of 8.40% and a return on equity of 67.69%. The business's revenue was up 46.9% compared to the same quarter last year. Research analysts anticipate that Astronics will post 2.72 earnings per share for the current year.

Hedge Funds Weigh In On Astronics

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Astronics during the second quarter valued at approximately $248,395,000. Dimensional Fund Advisors LP lifted its holdings in shares of Astronics by 5.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 673,760 shares of the aerospace company's stock worth $44,951,000 after purchasing an additional 34,018 shares during the last quarter. Emerald Advisers LLC lifted its holdings in shares of Astronics by 85.0% in the 1st quarter. Emerald Advisers LLC now owns 449,126 shares of the aerospace company's stock worth $29,970,000 after purchasing an additional 206,399 shares during the last quarter. Emerald Mutual Fund Advisers Trust lifted its holdings in shares of Astronics by 78.1% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 279,159 shares of the aerospace company's stock worth $18,628,000 after purchasing an additional 122,440 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in Astronics by 4.1% during the 1st quarter. First Trust Advisors LP now owns 253,492 shares of the aerospace company's stock valued at $16,916,000 after purchasing an additional 10,014 shares during the period. Institutional investors own 56.68% of the company's stock.

About Astronics

Astronics Corporation is a aerospace and defense company that designs and manufactures advanced technologies for commercial, military and business aircraft. Its products and systems are used by original equipment manufacturers, airlines, aircraft operators and defense contractors.

The company's offerings include aircraft electrical power systems, lighting and cabin-management systems, connectivity and inflight entertainment equipment, avionics and specialized aerospace components. Astronics also develops automated test systems and related equipment used to test and support electronic systems in the aerospace, defense and other high-technology industries.

Founded in 1968 and headquartered in East Aurora, New York, Astronics serves customers in the United States and international markets through its manufacturing and engineering operations.

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