Astronics (NASDAQ:ATRO) Trading 3.4% Higher on Analyst Upgrade

Astronics Co. (NASDAQ:ATRO - Get Free Report)'s share price traded up 3.4% during mid-day trading on Thursday after Truist Financial raised their price target on the stock from $24.00 to $32.00. Truist Financial currently has a hold rating on the stock. Astronics traded as high as $34.74 and last traded at $34.69. 128,690 shares were traded during mid-day trading, a decline of 71% from the average session volume of 447,779 shares. The stock had previously closed at $33.56.

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

Hedge Funds Weigh In On Astronics

A number of institutional investors have recently modified their holdings of the stock. Jane Street Group LLC raised its position in Astronics by 579.4% during the 1st quarter. Jane Street Group LLC now owns 230,492 shares of the aerospace company's stock valued at $5,571,000 after purchasing an additional 196,568 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Astronics by 22.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,791 shares of the aerospace company's stock valued at $1,735,000 after purchasing an additional 13,104 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of 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 purchasing an additional 46,054 shares in the last quarter. Millennium Management LLC lifted its position in shares of Astronics by 80.1% in the 1st quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company's stock worth $18,054,000 after purchasing an additional 332,133 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Astronics by 6.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,491 shares of the aerospace company's stock valued at $423,000 after buying an additional 1,069 shares during the period. 56.68% of the stock is owned by hedge funds and other institutional investors.

Astronics Stock Down 3.1%

The business's 50 day moving average is $26.95 and its 200 day moving average is $21.81. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72. The company has a market cap of $1.23 billion, a P/E ratio of -181.10 and a beta of 1.56.

Astronics (NASDAQ:ATRO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The aerospace company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.19. The company had revenue of $205.94 million for the quarter, compared to the consensus estimate of $192.53 million. Astronics had a positive return on equity of 6.94% and a negative net margin of 0.82%. As a group, equities analysts anticipate that Astronics Co. will post 0.82 earnings per share for the current fiscal year.

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.