Astronics (NASDAQ:ATRO) Stock Price Expected to Rise, Truist Financial Analyst Says

Key Points

• Truist Financial has raised its price target for Astronics from $49.00 to $58.00, indicating a potential upside of 20.38% from the current stock price, alongside maintaining a "buy" rating.
• Astronics received mixed ratings from analysts, with one firm upgrading from "strong-buy" to "hold," while another set a target price of $60.00 amid two "buy" recommendations and one "sell."
• Insider selling activity was noted, with executive James Mulato reducing his stake by 51.44%, raising concerns about insider confidence in the stock.

Astronics (NASDAQ:ATRO - Get Free Report) had its price objective increased by equities researchers at Truist Financial from $49.00 to $58.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the aerospace company's stock. Truist Financial's target price suggests a potential upside of 20.38% from the stock's current price.

ATRO has been the topic of several other reports. Wall Street Zen lowered Astronics from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 9th. Zacks Research lowered Astronics from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 6th. Craig Hallum assumed coverage on Astronics in a research report on Friday, October 10th. They set a "buy" rating and a $60.00 price target on the stock. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Astronics in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $59.00.

Astronics Price Performance

Shares of NASDAQ ATRO traded up $0.07 during trading hours on Wednesday, reaching $48.18. 345,169 shares of the stock traded hands, compared to its average volume of 588,624. The company has a market capitalization of $1.71 billion, a P/E ratio of -402.34 and a beta of 1.68. The company has a quick ratio of 1.63, a current ratio of 3.04 and a debt-to-equity ratio of 0.59. Astronics has a 52-week low of $14.13 and a 52-week high of $49.96. The company's 50-day simple moving average is $39.77 and its two-hundred day simple moving average is $33.13.

Astronics (NASDAQ:ATRO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The aerospace company reported $0.38 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.05. The company had revenue of $204.68 million for 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%. Equities research analysts forecast that Astronics will post 0.82 EPS for the current year.

Insider Transactions at Astronics

In other Astronics news, insider James Mulato sold 1,129 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $38.16, for a total transaction of $43,082.64. Following the completion of the transaction, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 10.83% of the company's stock.

Hedge Funds Weigh In On Astronics

Institutional investors and hedge funds have recently made changes to their positions in the business. Informed Momentum Co LLC bought a new stake in shares of Astronics in the 1st quarter valued at approximately $3,070,000. Envestnet Asset Management Inc. bought a new stake in shares of Astronics in the 1st quarter valued at approximately $5,521,000. Equitable Trust Co. bought a new stake in shares of Astronics in the 1st quarter valued at approximately $251,000. Vanguard Group Inc. lifted its stake in shares of Astronics by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 1,601,632 shares of the aerospace company's stock valued at $38,711,000 after purchasing an additional 27,025 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in shares of Astronics by 56.2% during the 1st quarter. Federated Hermes Inc. now owns 55,980 shares of the aerospace company's stock worth $1,353,000 after acquiring an additional 20,136 shares during the last quarter. 56.68% of the stock is owned by hedge funds and other institutional investors.

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.

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