Astronics (NASDAQ:ATRO - Get Free Report)'s stock had its "sell (d-)" rating restated by analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.
Other equities analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Astronics from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 9th. Zacks Research downgraded shares of Astronics from a "strong-buy" rating to a "hold" rating in a research note on Monday. Finally, Truist Financial upgraded shares of Astronics from a "hold" rating to a "buy" rating and set a $49.00 target price on the stock in a research note on Friday, July 11th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Astronics presently has a consensus rating of "Hold" and a consensus target price of $49.00.
View Our Latest Stock Report on Astronics
Astronics Trading Down 0.9%
ATRO traded down $0.43 during trading hours on Wednesday, reaching $47.44. 709,979 shares of the company's stock traded hands, compared to its average volume of 589,163. The firm has a 50-day moving average price of $38.62 and a 200 day moving average price of $32.39. Astronics has a 52-week low of $14.13 and a 52-week high of $48.94. The company has a quick ratio of 1.63, a current ratio of 3.04 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $1.68 billion, a PE ratio of -395.30 and a beta of 1.68.
Astronics (NASDAQ:ATRO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The aerospace company reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.05. The company had revenue of $204.68 million during the quarter, compared to analysts' expectations of $208.29 million. Astronics had a positive return on equity of 22.89% and a negative net margin of 0.45%. As a group, sell-side analysts predict that Astronics will post 0.82 EPS for the current fiscal year.
Insiders Place Their Bets
In other Astronics news, insider James Mulato sold 1,129 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $38.16, for a total value of $43,082.64. Following the completion of the sale, the insider directly owned 1,066 shares in the company, valued at $40,678.56. This trade represents a 51.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 10.83% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Astronics
Institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its stake in Astronics by 224.1% in the first quarter. Assenagon Asset Management S.A. now owns 128,757 shares of the aerospace company's stock valued at $3,112,000 after acquiring an additional 89,033 shares in the last quarter. Informed Momentum Co LLC purchased a new position in shares of Astronics in the first quarter worth $3,070,000. Equitable Trust Co. purchased a new position in shares of Astronics in the first quarter worth $251,000. Envestnet Asset Management Inc. purchased a new position in shares of Astronics in the first quarter worth $5,521,000. Finally, Vanguard Group Inc. raised its holdings in shares of Astronics by 1.7% in the first quarter. Vanguard Group Inc. now owns 1,601,632 shares of the aerospace company's stock worth $38,711,000 after buying an additional 27,025 shares during the last quarter. 56.68% of the stock is currently owned by institutional investors and hedge funds.
Astronics Company Profile
(
Get Free Report)
Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.
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