Astronics Corporation (NASDAQ:ATRO) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Astronics has a “Moderate Buy” consensus rating from six analysts, with an average 12-month price target of $74.17. Ratings include two buys, two strong buys, one hold, and one sell.
• The company exceeded quarterly expectations, reporting $0.70 in EPS versus a $0.59 estimate and revenue of $259.96 million, up 46.9% year over year.
• Institutional ownership remains significant at 56.68%, with several hedge funds increasing their positions during the second quarter.

Astronics Corporation (NASDAQ:ATRO - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the six ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, two have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $74.1667.

A number of brokerages have issued reports on ATRO. Wall Street Zen raised shares of Astronics from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 16th. TD Cowen lifted their price target on Astronics from $70.83 to $83.33 and gave the company a "buy" rating in a research report on Thursday, May 28th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Astronics in a research note on Friday, July 17th. Finally, Zacks Research cut Astronics from a "strong-buy" rating to a "hold" rating in a report on Monday, September 7th.

Astronics Trading Up 4.4%

Shares of Astronics stock opened at $68.62 on Tuesday. Astronics has a 52-week low of $34.44 and a 52-week high of $94.46. The stock's 50-day simple moving average is $74.27 and its 200 day simple moving average is $69.25. The stock has a market capitalization of $2.95 billion, a P/E ratio of 40.36 and a beta of 1.20. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.63 and a current ratio of 2.97.

Astronics (NASDAQ:ATRO - Get Free Report) last issued its earnings results on Tuesday, August 11th. The aerospace company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.11. The firm had revenue of $259.96 million during the quarter, compared to analyst estimates of $245.30 million. Astronics had a net margin of 8.40% and a return on equity of 67.69%. The company's quarterly revenue was up 46.9% compared to the same quarter last year. As a group, research analysts anticipate that Astronics will post 2.74 EPS for the current year.

Institutional Investors Weigh In On Astronics

A number of institutional investors and hedge funds have recently modified their holdings of ATRO. Tidal Investments LLC boosted its position in shares of Astronics by 102.9% in the second quarter. Tidal Investments LLC now owns 21,502 shares of the aerospace company's stock valued at $1,747,000 after acquiring an additional 10,907 shares during the period. Engineers Gate Manager LP increased its holdings in Astronics by 551.0% during the 2nd quarter. Engineers Gate Manager LP now owns 25,005 shares of the aerospace company's stock worth $2,032,000 after acquiring an additional 21,164 shares during the period. Integrated Wealth Concepts LLC bought a new position in Astronics in the 2nd quarter valued at $103,000. IFP Advisors Inc boosted its holdings in Astronics by 65.1% in the 2nd quarter. IFP Advisors Inc now owns 2,141 shares of the aerospace company's stock valued at $174,000 after purchasing an additional 844 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in shares of Astronics during the 2nd quarter valued at $1,264,000. 56.68% of the stock is owned by hedge funds and other institutional investors.

About Astronics

Astronics Corporation NASDAQ: ATRO designs and manufactures advanced aerospace and defense systems and equipment. Its products include aircraft lighting, electrical power and distribution systems, cabin electronics, connectivity solutions, avionics, and other specialized components used in commercial, business, general aviation, and military aircraft.

The company also provides automated test systems and related equipment used to test aerospace, defense, and other electronic systems. Its offerings support aircraft manufacturers, airlines, defense contractors, and maintenance organizations, as well as customers in the space and transportation markets.

Founded in 1968 and headquartered in East Aurora, New York, Astronics serves customers through operations and sales activities in the United States and international markets.

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