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

Key Points

• Analysts give Astronics an average rating of "Buy" from six firms (1 sell, 3 buy, 2 strong-buy) with an average 1‑year price target of $77.33; Truist recently raised its target to $107 and several shops upgraded to strong‑buy.
• Quarterly results topped estimates — $0.75 EPS vs. $0.63 expected and $240.1M revenue vs. $237.1M — with revenue up 15.1% year‑over‑year and analysts forecasting about 2.62 EPS for the fiscal year.
• Shares opened at $73.23, trading between a 52‑week low/high of $20.97/$83.96, with a market cap of $2.61B and a high trailing P/E of 95.11; institutional investors own roughly 56.7% of the stock.

Astronics Corporation (NASDAQ:ATRO - Get Free Report) has received an average recommendation of "Buy" from the six research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $77.3333.

Several research analysts have recently issued reports on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Astronics in a report on Monday. Truist Financial upped their price target on shares of Astronics from $75.00 to $107.00 and gave the stock a "buy" rating in a report on Wednesday, February 25th. Craig Hallum reiterated a "buy" rating on shares of Astronics in a report on Friday, January 9th. Wall Street Zen upgraded shares of Astronics from a "buy" rating to a "strong-buy" rating in a report on Saturday, February 28th. Finally, Zacks Research raised shares of Astronics from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 3rd.

Astronics Stock Up 0.5%

Shares of NASDAQ:ATRO opened at $73.23 on Friday. The company has a fifty day moving average of $73.01 and a 200-day moving average of $63.14. The company has a market capitalization of $2.61 billion, a PE ratio of 95.11 and a beta of 1.11. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.71 and a current ratio of 3.10. Astronics has a 52-week low of $20.97 and a 52-week high of $83.96.

Astronics (NASDAQ:ATRO - Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The aerospace company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.12. The company had revenue of $240.07 million during the quarter, compared to the consensus estimate of $237.11 million. Astronics had a net margin of 3.41% and a return on equity of 39.95%. The company's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 earnings per share. On average, equities analysts predict that Astronics will post 2.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Astronics

Several large investors have recently modified their holdings of the business. Peregrine Capital Management LLC bought a new position in shares of Astronics during the first quarter valued at $7,575,000. Pictet Asset Management Holding SA raised its stake in shares of Astronics by 18.8% during the first quarter. Pictet Asset Management Holding SA now owns 5,051 shares of the aerospace company's stock valued at $337,000 after acquiring an additional 800 shares during the last quarter. OP Asset Management Ltd bought a new position in shares of Astronics during the first quarter valued at $1,389,000. Diversified Trust Co raised its stake in shares of Astronics by 13.8% during the first quarter. Diversified Trust Co now owns 4,684 shares of the aerospace company's stock valued at $313,000 after acquiring an additional 569 shares during the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of Astronics by 2,291.3% during the fourth quarter. Hsbc Holdings PLC now owns 148,309 shares of the aerospace company's stock valued at $8,120,000 after acquiring an additional 142,107 shares during the last quarter. Institutional investors own 56.68% of the company's stock.

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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