Lisanti Capital Growth LLC Acquires New Position in Astronics Corporation $ATRO

Key Points

• Lisanti Capital Growth acquired a new 12,280-share position in Astronics during the second quarter, valued at approximately $998,000.
• Astronics reported quarterly earnings of $0.70 per share, beating estimates by $0.11, while revenue reached $259.96 million, up 46.9% year over year.
• Analyst sentiment is generally positive, with a consensus “Buy” rating and an average price target of $74.17, although one analyst maintains a “Sell” rating.

Lisanti Capital Growth LLC bought a new position in shares of Astronics Corporation (NASDAQ:ATRO - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 12,280 shares of the aerospace company's stock, valued at approximately $998,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. IFP Advisors Inc boosted its position in shares of Astronics by 389.6% in the 3rd quarter. IFP Advisors Inc now owns 563 shares of the aerospace company's stock worth $26,000 after purchasing an additional 448 shares during the last quarter. Allworth Financial LP grew its stake in shares of Astronics by 57.1% during the fourth quarter. Allworth Financial LP now owns 528 shares of the aerospace company's stock worth $29,000 after purchasing an additional 192 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Astronics by 147.6% in the second quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company's stock valued at $30,000 after purchasing an additional 533 shares during the last quarter. Quarry LP increased its holdings in Astronics by 33.6% in the fourth quarter. Quarry LP now owns 568 shares of the aerospace company's stock valued at $31,000 after purchasing an additional 143 shares during the last quarter. Finally, Leonteq Securities AG acquired a new position in Astronics in the fourth quarter valued at about $33,000. Institutional investors own 56.68% of the company's stock.

Astronics Stock Performance

Shares of NASDAQ ATRO opened at $81.67 on Thursday. The stock has a 50 day moving average price of $76.32 and a 200 day moving average price of $67.84. Astronics Corporation has a 52 week low of $27.89 and a 52 week high of $94.46. 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 stock has a market capitalization of $3.51 billion, a PE ratio of 48.04 and a beta of 1.15.

Astronics (NASDAQ:ATRO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The aerospace company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.11. Astronics had a return on equity of 67.69% and a net margin of 8.40%.The firm had revenue of $259.96 million for the quarter, compared to analyst estimates of $245.30 million. The business's revenue for the quarter was up 46.9% compared to the same quarter last year. Analysts predict that Astronics Corporation will post 2.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ATRO. Zacks Research upgraded Astronics from a "hold" rating to a "strong-buy" rating in a report on Monday, July 20th. Truist Financial raised Astronics to a "strong-buy" rating in a research note on Monday, May 4th. Wall Street Zen upgraded shares of Astronics from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Weiss Ratings reissued a "sell (d-)" rating on shares of Astronics in a research note on Friday, July 17th. Finally, TD Cowen boosted their price objective on shares of Astronics from $70.83 to $83.33 and gave the company a "buy" rating in a report on Thursday, May 28th. Three investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Astronics has a consensus rating of "Buy" and an average price target of $74.17.

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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