Astronics (NASDAQ:ATRO) Upgraded at Wall Street Zen

Key Points

• Astronics (NASDAQ:ATRO) has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, reflecting positive investor sentiment.
• Multiple analysts have varied ratings on Astronics, with Zacks downgrading to "hold" and Truist Financial increasing the price target to $58.00 with a "buy" rating.
• The stock is currently trading at $46.23, down 3.5%, with a consensus rating of "hold" and an average price target of $59.00.

Astronics (NASDAQ:ATRO - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

A number of other research analysts have also recently commented on the company. Zacks Research cut Astronics from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 6th. Truist Financial upped their price target on Astronics from $49.00 to $58.00 and gave the stock a "buy" rating in a research note on Wednesday. Craig Hallum began coverage on Astronics in a research note 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 note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $59.00.

Astronics Stock Down 3.5%

NASDAQ:ATRO opened at $46.23 on Friday. The company has a quick ratio of 1.63, a current ratio of 3.04 and a debt-to-equity ratio of 0.59. The stock's fifty day moving average is $40.72 and its two-hundred day moving average is $33.55. Astronics has a 52 week low of $14.13 and a 52 week high of $49.96. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -385.22 and a beta of 1.68.

Astronics (NASDAQ:ATRO - Get Free Report) last released its quarterly 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. Astronics had a positive return on equity of 22.89% and a negative net margin of 0.45%.The company had revenue of $204.68 million for the quarter, compared to analysts' expectations of $208.29 million. Research analysts anticipate that Astronics will post 0.82 EPS for the current year.

Insider Buying and Selling at Astronics

In other news, insider James Mulato sold 1,129 shares of the company's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $38.16, for a total transaction of $43,082.64. Following the sale, the insider owned 1,066 shares of the company's stock, valued at approximately $40,678.56. This represents a 51.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 9.39% of the company's stock.

Hedge Funds Weigh In On Astronics

Several large investors have recently bought and sold shares of ATRO. EverSource Wealth Advisors LLC lifted its holdings in Astronics by 147.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company's stock worth $30,000 after buying an additional 533 shares during the last quarter. Signaturefd LLC lifted its holdings in Astronics by 88.5% during the 1st quarter. Signaturefd LLC now owns 1,446 shares of the aerospace company's stock worth $35,000 after buying an additional 679 shares during the last quarter. CWM LLC lifted its holdings in Astronics by 192.2% during the 1st quarter. CWM LLC now owns 2,592 shares of the aerospace company's stock worth $63,000 after buying an additional 1,705 shares during the last quarter. Penserra Capital Management LLC purchased a new position in Astronics in the second quarter valued at approximately $66,000. Finally, Osaic Holdings Inc. increased its stake in Astronics by 30.0% in 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 during the last quarter. Hedge funds and other institutional investors own 56.68% of the company's stock.

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.

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