Astronics (NASDAQ:ATRO) Upgraded at KeyCorp

Key Points

• KeyCorp upgraded Astronics to a “hold” rating, while analysts’ overall consensus remains “Moderate Buy” with a $89.58 price target.
• Astronics reported quarterly EPS of $0.70, beating estimates of $0.59, and revenue of $259.96 million, up 46.9% year over year and above expectations.
• Institutional ownership stands at 56.68%, with several investment firms—including Assenagon Asset Management and West Branch Capital—substantially increasing their positions.

Astronics (NASDAQ:ATRO - Get Free Report) was upgraded by analysts at KeyCorp to a "hold" rating in a research report issued on Thursday, Zacks reports.

ATRO has been the topic of a number of other reports. TD Cowen reaffirmed a "buy" rating and issued a $90.00 price objective (down from $100.00) on shares of Astronics in a research note on Friday, October 9th. Weiss Ratings downgraded shares of Astronics from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, October 8th. Wall Street Zen raised shares of Astronics from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 16th. Finally, Zacks Research lowered shares of Astronics from a "strong-buy" rating to a "hold" rating in a report on Monday, September 7th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Astronics has an average rating of "Moderate Buy" and a consensus price target of $89.58.

Astronics Stock Performance

NASDAQ ATRO opened at $59.20 on Thursday. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 27.78 and a beta of 1.25. Astronics has a twelve month low of $34.58 and a twelve month high of $94.46. The stock has a fifty day simple moving average of $70.80 and a 200 day simple moving average of $70.47. The company has a quick ratio of 1.63, a current ratio of 2.97 and a debt-to-equity ratio of 1.57.

Astronics (NASDAQ:ATRO - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The aerospace company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.11. Astronics had a return on equity of 67.69% and a net margin of 8.40%. The firm had revenue of $259.96 million for the quarter, compared to analyst estimates of $245.30 million. The company's revenue for the quarter was up 46.9% compared to the same quarter last year. Sell-side analysts expect that Astronics will post 2.72 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sterling Capital Management LLC lifted its position in shares of Astronics by 838.1% during the third quarter. Sterling Capital Management LLC now owns 1,060 shares of the aerospace company's stock valued at $71,000 after purchasing an additional 947 shares in the last quarter. Inspire Investing LLC bought a new stake in Astronics in the 3rd quarter worth about $2,589,000. Skylands Capital LLC increased its stake in Astronics by 34.7% in the 3rd quarter. Skylands Capital LLC now owns 29,100 shares of the aerospace company's stock valued at $1,962,000 after buying an additional 7,500 shares during the last quarter. West Branch Capital LLC increased its stake in Astronics by 771.9% in the 3rd quarter. West Branch Capital LLC now owns 49,700 shares of the aerospace company's stock valued at $3,351,000 after buying an additional 44,000 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Astronics by 153.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 180,916 shares of the aerospace company's stock valued at $12,197,000 after buying an additional 109,574 shares during the last quarter. 56.68% of the stock is owned by institutional investors.

Astronics Company Profile

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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