Astronics Corporation (ATRO) - What Are Investment Firms Saying About This Stock?

Key Points

• Analyst sentiment is moderately positive: Seven brokerages give Astronics a consensus “Moderate Buy” rating, with an average 12-month price target of $89.58.
• Astronics beat quarterly expectations, reporting EPS of $0.81 versus $0.72 forecast and revenue of $271.68 million versus $267.97 million expected. Revenue rose 41% year over year.
• Institutional investors own 56.68% of the company’s shares, with several firms adding to their positions during the third quarter.

Shares of Astronics Corporation (NASDAQ:ATRO - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the seven brokerages that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $89.58.

Several brokerages have issued reports on ATRO. Weiss Ratings lowered Astronics from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, October 8th. KeyCorp started coverage on Astronics in a research note on Thursday, October 22nd. They issued a "sector weight" rating on the stock. Zacks Research downgraded Astronics from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 7th. TD Cowen reissued a "buy" rating and set a $90.00 price objective (down from $100.00) on shares of Astronics in a research note on Friday, October 9th. Finally, Wall Street Zen upgraded shares of Astronics from a "buy" rating to a "strong-buy" rating in a report on Sunday.

Institutional Investors Weigh In On Astronics

Several institutional investors have recently added to or reduced their stakes in ATRO. Private Advisor Group LLC bought a new stake in Astronics in the 3rd quarter worth $443,000. Global Retirement Partners LLC increased its holdings in Astronics by 857.2% during the 3rd quarter. Global Retirement Partners LLC now owns 1,321 shares of the aerospace company's stock valued at $89,000 after purchasing an additional 1,183 shares during the period. HighTower Advisors LLC increased its holdings in Astronics by 724.0% during the 3rd quarter. HighTower Advisors LLC now owns 22,931 shares of the aerospace company's stock valued at $1,546,000 after purchasing an additional 20,148 shares during the period. White Pine Capital LLC bought a new position in Astronics during the 3rd quarter valued at approximately $3,395,000. Finally, Thoroughbred Financial Services LLC raised its position in Astronics by 19.7% during the 3rd quarter. Thoroughbred Financial Services LLC now owns 12,577 shares of the aerospace company's stock valued at $847,000 after purchasing an additional 2,071 shares during the last quarter. Hedge funds and other institutional investors own 56.68% of the company's stock.

Astronics Price Performance

Shares of NASDAQ:ATRO opened at $62.00 on Wednesday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.63 and a current ratio of 2.97. The company's 50-day moving average is $65.39 and its 200 day moving average is $67.46. Astronics has a fifty-two week low of $38.13 and a fifty-two week high of $94.46. The company has a market capitalization of $2.67 billion, a P/E ratio of 36.47 and a beta of 1.37.

Astronics (NASDAQ:ATRO - Get Free Report) last issued its quarterly earnings results on Tuesday, November 10th. The aerospace company reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.09. The firm had revenue of $271.68 million for the quarter, compared to analysts' expectations of $267.97 million. Astronics had a return on equity of 67.69% and a net margin of 8.40%. The business's revenue for the quarter was up 41.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.49 EPS. On average, equities research analysts forecast that Astronics will post 2.72 earnings per share for the current year.

About Astronics

Astronics Corporation designs and manufactures technologies for the aerospace, defense and other industries. Its aerospace products include aircraft lighting, electrical power generation and distribution systems, cabin electronics, connectivity solutions and avionics-related equipment used on commercial and military aircraft. The company also develops test systems, including automated equipment used to test aerospace and defense electronics. Astronics serves aircraft manufacturers, airlines, defense organizations and other customers, with products and services reaching markets around the world.

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