Calamos Advisors LLC Invests $1.07 Million in Astronics Corporation $ATRO

Key Points

• Calamos Advisors LLC established a new position in Astronics by acquiring 19,720 shares worth approximately $1.07 million during the fourth quarter, representing about 0.06% of the company.
• Astronics recently beat expectations with Q1 results (EPS $0.75 vs. $0.63 est., revenue $240.07M, +15.1% YoY), and the stock carries an average Wall Street rating of Buy with an average target of $77.33, though analyst views range from sell to strong-buy (Truist target $107).

Calamos Advisors LLC acquired a new position in shares of Astronics Corporation (NASDAQ:ATRO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 19,720 shares of the aerospace company's stock, valued at approximately $1,070,000. Calamos Advisors LLC owned 0.06% of Astronics at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ATRO. IFP Advisors Inc increased its position in shares of Astronics by 389.6% during the third quarter. IFP Advisors Inc now owns 563 shares of the aerospace company's stock worth $26,000 after acquiring an additional 448 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Astronics by 147.6% during the second quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company's stock worth $30,000 after acquiring an additional 533 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Astronics by 166.7% during the third quarter. Jones Financial Companies Lllp now owns 752 shares of the aerospace company's stock worth $34,000 after purchasing an additional 470 shares in the last quarter. US Bancorp DE grew its stake in shares of Astronics by 41.0% during the third quarter. US Bancorp DE now owns 966 shares of the aerospace company's stock worth $44,000 after purchasing an additional 281 shares in the last quarter. Finally, Covestor Ltd grew its stake in shares of Astronics by 25.4% during the third quarter. Covestor Ltd now owns 1,068 shares of the aerospace company's stock worth $49,000 after purchasing an additional 216 shares in the last quarter. Hedge funds and other institutional investors own 56.68% of the company's stock.

Astronics Stock Performance

Shares of ATRO stock opened at $73.41 on Tuesday. The company has a current ratio of 3.10, a quick ratio of 1.71 and a debt-to-equity ratio of 2.39. Astronics Corporation has a 12 month low of $21.74 and a 12 month high of $83.96. The company has a market cap of $2.62 billion, a P/E ratio of 95.34 and a beta of 1.11. The firm has a fifty day moving average price of $72.94 and a 200 day moving average price of $63.55.

Astronics (NASDAQ:ATRO - Get Free Report) last released its quarterly earnings data on Tuesday, February 24th. The aerospace company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.12. Astronics had a net margin of 3.41% and a return on equity of 39.95%. The company had revenue of $240.07 million during the quarter, compared to the consensus estimate of $237.11 million. During the same quarter in the prior year, the firm posted $0.46 earnings per share. Astronics's revenue for the quarter was up 15.1% on a year-over-year basis. Sell-side analysts predict that Astronics Corporation will post 2.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ATRO shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Astronics in a research note on Monday, April 20th. Zacks Research upgraded shares of Astronics from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 3rd. Truist Financial boosted their target price on shares of Astronics from $75.00 to $107.00 and gave the stock a "buy" rating in a research note on Wednesday, February 25th. Craig Hallum reiterated a "buy" rating on shares of Astronics in a research note on Friday, January 9th. Finally, Wall Street Zen upgraded shares of Astronics from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 28th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $77.33.

About Astronics

Astronics Corporation NASDAQ: ATRO is a global leader in the design and manufacture of advanced technologies primarily for the aerospace, defense and semiconductor industries. Headquartered in East Aurora, New York, the company was founded in 1968 and has grown through a combination of internal development and strategic acquisitions. Astronics operates multiple business units focused on power conversion, distribution and control; cabin electronics and connectivity; aircraft lighting and safety solutions; and automated test systems.

The company's aerospace products include onboard power generation and management systems, in-flight entertainment and connectivity hardware, LED and fluorescent lighting for aircraft cabins and cockpits, and safety equipment such as escape slide power units.

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