Astronics (NASDAQ:ATRO) Given New $21.00 Price Target at Truist Financial

Astronics (NASDAQ:ATRO - Free Report) had its price target reduced by Truist Financial from $23.00 to $21.00 in a research note published on Thursday,Benzinga reports. They currently have a hold rating on the aerospace company's stock.

Separately, StockNews.com upgraded Astronics from a "hold" rating to a "buy" rating in a research note on Thursday, March 6th.

Astronics Stock Performance

Shares of ATRO traded down $0.26 during mid-day trading on Thursday, hitting $20.01. The stock had a trading volume of 175,106 shares, compared to its average volume of 285,188. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72. The company has a market cap of $705.77 million, a PE ratio of -105.50 and a beta of 1.26. Astronics has a fifty-two week low of $14.13 and a fifty-two week high of $26.63. The company's fifty day simple moving average is $22.59 and its two-hundred day simple moving average is $19.18.

Astronics (NASDAQ:ATRO - Get Free Report) last released its earnings results on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.27. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. The firm had revenue of $208.54 million during the quarter, compared to analyst estimates of $194.91 million. During the same quarter in the previous year, the firm earned $0.35 earnings per share. On average, equities analysts expect that Astronics will post 0.82 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Robert S. Keane sold 77,099 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $24.55, for a total value of $1,892,780.45. Following the completion of the transaction, the director now owns 6,346 shares in the company, valued at $155,794.30. This represents a 92.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 10.86% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ATRO. Stifel Financial Corp bought a new position in Astronics during the 3rd quarter valued at $212,000. State Street Corp lifted its holdings in Astronics by 6.7% in the 3rd quarter. State Street Corp now owns 924,070 shares of the aerospace company's stock valued at $18,001,000 after acquiring an additional 58,356 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Astronics by 49.0% during the 3rd quarter. Jane Street Group LLC now owns 51,147 shares of the aerospace company's stock valued at $996,000 after purchasing an additional 16,823 shares in the last quarter. Barclays PLC grew its stake in shares of Astronics by 328.2% in the 3rd quarter. Barclays PLC now owns 45,313 shares of the aerospace company's stock worth $883,000 after purchasing an additional 34,730 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Astronics by 2.0% during the third quarter. Geode Capital Management LLC now owns 691,522 shares of the aerospace company's stock valued at $13,474,000 after purchasing an additional 13,469 shares during the last quarter. 56.68% of the stock is currently owned by institutional investors.

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.