Craig Hallum Initiates Coverage on Astronics (NASDAQ:ATRO)

Key Points

• Astronics' stock rating has been upgraded to a "strong-buy" by Craig Hallum, reflecting positive sentiment among analysts despite mixed ratings from other analysts.
• The stock currently has an average target price of $54.50 and has experienced significant volatility, with a twelve month low of $14.13 and a high of $48.94.
• Institutional investors hold 56.68% of Astronics' stock, indicating substantial confidence from larger financial entities amidst recent trading activities.

Analysts at Craig Hallum started coverage on shares of Astronics (NASDAQ:ATRO - Get Free Report) in a note issued to investors on Friday, MarketBeat.com reports. The brokerage set a "buy" rating and a $60.00 price target on the aerospace company's stock. Craig Hallum's target price points to a potential upside of 30.52% from the company's previous close.

Several other analysts also recently commented on ATRO. Weiss Ratings reiterated a "sell (d-)" rating on shares of Astronics in a research note on Wednesday. Wall Street Zen downgraded Astronics from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 9th. Zacks Research downgraded Astronics from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 6th. Finally, Truist Financial raised Astronics from a "hold" rating to a "buy" rating and set a $49.00 target price for the company in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $54.50.

Astronics Trading Down 0.1%

NASDAQ ATRO opened at $45.97 on Friday. Astronics has a 12 month low of $14.13 and a 12 month high of $48.94. The stock has a market cap of $1.63 billion, a P/E ratio of -383.05 and a beta of 1.68. The stock's fifty day moving average price is $39.28 and its 200-day moving average price is $32.76. The company has a current ratio of 3.04, a quick ratio of 1.63 and a debt-to-equity ratio of 0.59.

Astronics (NASDAQ:ATRO - Get Free Report) last released its earnings results on Wednesday, August 6th. The aerospace company reported $0.38 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.05. The firm 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%. As a group, equities analysts forecast that Astronics will post 0.82 EPS for the current fiscal year.

Insider Activity at Astronics

In other news, insider James Mulato sold 1,129 shares of Astronics stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $38.16, for a total transaction of $43,082.64. Following the transaction, the insider directly owned 1,066 shares of the company's stock, valued at $40,678.56. The trade was a 51.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.39% of the stock is owned by company insiders.

Institutional Trading of Astronics

A number of hedge funds and other institutional investors have recently modified their holdings of ATRO. EverSource Wealth Advisors LLC lifted its position in shares of Astronics by 147.6% in the second quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company's stock valued at $30,000 after acquiring an additional 533 shares in the last quarter. Signaturefd LLC grew its holdings in Astronics by 88.5% during the 1st quarter. Signaturefd LLC now owns 1,446 shares of the aerospace company's stock valued at $35,000 after buying an additional 679 shares in the last quarter. CWM LLC grew its holdings in Astronics by 192.2% during the 1st quarter. CWM LLC now owns 2,592 shares of the aerospace company's stock valued at $63,000 after buying an additional 1,705 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in Astronics during the second quarter valued at $66,000. Finally, Osaic Holdings Inc. raised its stake in Astronics by 30.0% during the second quarter. Osaic Holdings Inc. now owns 2,294 shares of the aerospace company's stock valued at $77,000 after purchasing an additional 529 shares in the last quarter. 56.68% of the stock is owned by hedge funds and other institutional investors.

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.