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

Key Points

• Astronics (NASDAQ:ATRO) has a consensus analyst rating of “Moderate Buy” from six covering analysts, with an average 1-year price target of about $74.17.
• Recent analyst actions have been mixed but generally positive, including upgrades from Truist Financial and Wall Street Zen, while TD Cowen raised its target price to $83.33 and kept a buy rating.
• The company reported better-than-expected Q1 results, earning $0.49 per share versus $0.46 expected and posting revenue of $230.62 million, up 12% year over year.

Shares of Astronics Corporation (NASDAQ:ATRO - Get Free Report) have earned a consensus rating of "Moderate Buy" from the six analysts that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $74.1667.

Several research firms have recently issued reports on ATRO. Truist Financial raised 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 research note on Monday, April 20th. Wall Street Zen upgraded shares of Astronics from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 21st. Zacks Research cut shares of Astronics from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 13th. Finally, TD Cowen lifted their target price on shares of Astronics from $70.83 to $83.33 and gave the stock a "buy" rating in a research report on Thursday, May 28th.

Astronics Price Performance

Shares of NASDAQ:ATRO opened at $71.17 on Thursday. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 72.38 and a beta of 1.13. The company has a debt-to-equity ratio of 2.07, a current ratio of 2.97 and a quick ratio of 1.63. The business's 50 day simple moving average is $71.71 and its 200-day simple moving average is $63.50. Astronics has a 12 month low of $22.73 and a 12 month high of $88.72.

Astronics (NASDAQ:ATRO - Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03. The firm had revenue of $230.62 million during the quarter, compared to the consensus estimate of $225.52 million. Astronics had a return on equity of 49.34% and a net margin of 5.12%.Astronics's quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the business posted $0.37 EPS. As a group, equities analysts forecast that Astronics will post 2.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ATRO. Allworth Financial LP grew its holdings in Astronics by 57.1% during the 4th quarter. Allworth Financial LP now owns 528 shares of the aerospace company's stock valued at $29,000 after buying an additional 192 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Astronics by 877.2% in the first quarter. Fifth Third Bancorp now owns 557 shares of the aerospace company's stock valued at $37,000 after acquiring an additional 500 shares in the last quarter. Optiver Holding B.V. lifted its position in shares of Astronics by 3,921.4% in the first quarter. Optiver Holding B.V. now owns 563 shares of the aerospace company's stock valued at $38,000 after acquiring an additional 549 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Astronics by 389.6% during the third quarter. IFP Advisors Inc now owns 563 shares of the aerospace company's stock valued at $26,000 after acquiring an additional 448 shares during the last quarter. Finally, Quarry LP boosted its stake in shares of Astronics by 33.6% during the fourth quarter. Quarry LP now owns 568 shares of the aerospace company's stock valued at $31,000 after acquiring an additional 143 shares during the last quarter. 56.68% of the stock is currently owned by institutional investors and hedge funds.

About Astronics

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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