Astronics Corporation (NASDAQ:ATRO) Given Average Rating of "Buy" by Analysts

Key Points

• Analyst sentiment is bullish: Astronics has an average “Buy” rating from six analysts, with a consensus 12-month price target of $74.17. Recent firms raised ratings or targets, though one analyst maintained a sell rating.
• Institutional ownership is substantial: Institutional investors and hedge funds own 56.68% of Astronics, with several investors increasing their positions during the latest reported quarters.
• Quarterly results exceeded expectations: Astronics reported $0.49 in earnings per share versus the $0.46 consensus estimate, while revenue rose 12% year over year to $230.62 million.

Astronics Corporation (NASDAQ:ATRO - Get Free Report) has been given an average rating of "Buy" by the six research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a buy rating and three have given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $74.1667.

Several research firms recently issued reports on ATRO. TD Cowen upped their price target on Astronics from $70.83 to $83.33 and gave the company a "buy" rating in a research report on Thursday, May 28th. Wall Street Zen raised shares of Astronics from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 21st. Truist Financial upgraded shares of Astronics to a "strong-buy" rating in a research note on Monday, May 4th. Weiss Ratings reissued a "sell (d-)" rating on shares of Astronics in a report on Friday, July 17th. Finally, Zacks Research upgraded shares of Astronics from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 20th.

Institutional Investors Weigh In On Astronics

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Astronics by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 1,975,693 shares of the aerospace company's stock worth $107,162,000 after purchasing an additional 39,527 shares during the period. SG Americas Securities LLC bought a new stake in shares of Astronics in the 4th quarter worth approximately $2,279,000. Emerald Advisers LLC boosted its position in Astronics by 85.0% during the 1st quarter. Emerald Advisers LLC now owns 449,126 shares of the aerospace company's stock valued at $29,970,000 after purchasing an additional 206,399 shares during the period. Emerald Mutual Fund Advisers Trust boosted its position in Astronics by 78.1% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 279,159 shares of the aerospace company's stock valued at $18,628,000 after purchasing an additional 122,440 shares during the period. Finally, Calamos Advisors LLC bought a new position in Astronics during the 4th quarter worth $1,070,000. Institutional investors and hedge funds own 56.68% of the company's stock.

Astronics Price Performance

NASDAQ:ATRO opened at $69.49 on Monday. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.63 and a current ratio of 2.97. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 70.67 and a beta of 1.15. Astronics has a one year low of $22.73 and a one year high of $88.72. The stock has a 50-day simple moving average of $73.45 and a 200 day simple moving average of $66.06.

Astronics (NASDAQ:ATRO - Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.03. The firm had revenue of $230.62 million for the quarter, compared to analysts' expectations of $225.52 million. Astronics had a return on equity of 49.34% and a net margin of 5.12%.Astronics's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 earnings per share. Sell-side analysts predict that Astronics will post 2.62 EPS for the current fiscal year.

Astronics Company Profile

Astronics Corporation NASDAQ: ATRO is a global leader in the design and manufacture of advanced technologies primarily for the aerospace, defense and semiconductor industries. Headquartered in East Aurora, New York, the company was founded in 1968 and has grown through a combination of internal development and strategic acquisitions. Astronics operates multiple business units focused on power conversion, distribution and control; cabin electronics and connectivity; aircraft lighting and safety solutions; and automated test systems.

The company's aerospace products include onboard power generation and management systems, in-flight entertainment and connectivity hardware, LED and fluorescent lighting for aircraft cabins and cockpits, and safety equipment such as escape slide power units.

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