Truist Financial Upgrades Astronics (NASDAQ:ATRO) to Buy

Astronics (NASDAQ:ATRO - Get Free Report) was upgraded by stock analysts at Truist Financial from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Friday, MarketBeat reports. The firm presently has a $49.00 price target on the aerospace company's stock. Truist Financial's price objective would suggest a potential upside of 38.85% from the company's previous close.

Separately, Wall Street Zen cut shares of Astronics from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, May 21st.

Astronics Stock Down 1.4%

Shares of Astronics stock opened at $35.29 on Friday. The company has a market cap of $1.25 billion, a P/E ratio of -294.06 and a beta of 1.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.49 and a current ratio of 2.74. Astronics has a one year low of $14.13 and a one year high of $37.32. The firm has a fifty day moving average of $32.13 and a two-hundred day moving average of $24.61.

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

Institutional Investors Weigh In On Astronics

A number of large investors have recently added to or reduced their stakes in the business. Counterpoint Mutual Funds LLC acquired a new stake in Astronics in the 2nd quarter valued at about $405,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Astronics in the 2nd quarter valued at about $260,000. Longboard Asset Management LP acquired a new stake in Astronics in the 2nd quarter valued at about $222,000. First Bank & Trust acquired a new stake in Astronics in the 2nd quarter valued at about $257,000. Finally, Goldman Sachs Group Inc. grew its stake 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. 56.68% of the stock is owned by institutional investors and hedge funds.

About Astronics

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.