Astronics (NASDAQ:ATRO) Rating Increased to Buy at Truist Financial

Astronics (NASDAQ:ATRO - Get Free Report) was upgraded by analysts at Truist Financial from a "hold" rating to a "buy" rating in a report released on Friday, Marketbeat reports. The brokerage currently has a $49.00 price objective on the aerospace company's stock. Truist Financial's price objective would indicate a potential upside of 36.38% from the stock's previous close.

Separately, Wall Street Zen lowered Astronics from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, May 21st.

Astronics Stock Up 15.6%

Astronics stock traded up $4.84 during trading hours on Friday, hitting $35.93. The stock had a trading volume of 1,093,182 shares, compared to its average volume of 500,093. The stock's 50-day moving average price is $31.41 and its 200-day moving average price is $24.15. The company has a quick ratio of 1.49, a current ratio of 2.74 and a debt-to-equity ratio of 0.60. Astronics has a 12-month low of $14.13 and a 12-month high of $36.48. The stock has a market capitalization of $1.27 billion, a P/E ratio of -299.38 and a beta of 1.55.

Astronics (NASDAQ:ATRO - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.19. Astronics had a positive return on equity of 18.45% and a negative net margin of 0.43%. The business had revenue of $205.94 million during the quarter, compared to analyst estimates of $192.53 million. Equities research analysts anticipate that Astronics will post 0.82 EPS for the current fiscal year.

Institutional Trading of Astronics

Institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Astronics during the second quarter worth approximately $260,000. Longboard Asset Management LP acquired a new position in Astronics during the second quarter worth about $222,000. First Bank & Trust purchased a new stake in Astronics during the 2nd quarter valued at about $257,000. Goldman Sachs Group Inc. raised its holdings in Astronics by 26.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 222,486 shares of the aerospace company's stock valued at $5,377,000 after acquiring an additional 46,054 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in Astronics by 579.4% in the 1st quarter. Jane Street Group LLC now owns 230,492 shares of the aerospace company's stock worth $5,571,000 after purchasing an additional 196,568 shares in the last quarter. 56.68% of the stock is owned by institutional investors and hedge funds.

Astronics Company Profile

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.