Truist Financial Raises Astronics (NASDAQ:ATRO) Price Target to $32.00

Astronics (NASDAQ:ATRO - Get Free Report) had its price objective boosted by equities researchers at Truist Financial from $24.00 to $32.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "hold" rating on the aerospace company's stock. Truist Financial's target price would suggest a potential downside of 10.64% from the stock's current price.

Separately, Wall Street Zen lowered shares of Astronics from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, May 21st.

Astronics Trading Up 6.7%

NASDAQ:ATRO traded up $2.25 during trading hours on Thursday, reaching $35.81. 1,648,200 shares of the company were exchanged, compared to its average volume of 338,782. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -188.46 and a beta of 1.56. Astronics has a 52-week low of $14.13 and a 52-week high of $36.32. The stock has a 50 day simple moving average of $26.95 and a 200 day simple moving average of $21.81.

Astronics (NASDAQ:ATRO - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The aerospace company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.19. The company had revenue of $205.94 million for the quarter, compared to the consensus estimate of $192.53 million. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. As a group, analysts predict that Astronics will post 0.82 EPS for the current year.

Institutional Investors Weigh In On Astronics

Several large investors have recently made changes to their positions in the business. Jane Street Group LLC increased its position in shares of Astronics by 579.4% in the first quarter. Jane Street Group LLC now owns 230,492 shares of the aerospace company's stock worth $5,571,000 after acquiring an additional 196,568 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Astronics by 22.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,791 shares of the aerospace company's stock worth $1,735,000 after acquiring an additional 13,104 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Astronics by 26.1% in the first quarter. Goldman Sachs Group Inc. now owns 222,486 shares of the aerospace company's stock worth $5,377,000 after acquiring an additional 46,054 shares in the last quarter. Millennium Management LLC increased its position in shares of Astronics by 80.1% in the first quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company's stock worth $18,054,000 after acquiring an additional 332,133 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Astronics by 6.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,491 shares of the aerospace company's stock worth $423,000 after acquiring an additional 1,069 shares in the last quarter. Institutional investors and hedge funds own 56.68% of the company's stock.

Astronics Company Profile

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.