Astronics (ATRO) Raised to Sell at BidaskClub

Astronics (NASDAQ:ATRO) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Friday.

Several other equities analysts have also recently issued reports on the stock. ValuEngine upgraded shares of Astronics from a “sell” rating to a “hold” rating in a research note on Friday, November 16th. Canaccord Genuity lowered their target price on shares of Astronics from $44.00 to $38.00 and set a “hold” rating on the stock in a research note on Tuesday, October 16th. TheStreet upgraded shares of Astronics from a “c+” rating to a “b-” rating in a research note on Tuesday, October 9th. Finally, Zacks Investment Research cut shares of Astronics from a “buy” rating to a “hold” rating in a research note on Monday, October 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Astronics has a consensus rating of “Hold” and a consensus price target of $42.25.

ATRO stock traded up $0.34 during trading on Friday, hitting $30.91. 46,200 shares of the stock traded hands, compared to its average volume of 124,638. Astronics has a 1 year low of $27.56 and a 1 year high of $49.45. The company has a market capitalization of $987.84 million, a price-to-earnings ratio of 24.73, a price-to-earnings-growth ratio of 2.13 and a beta of 1.96. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.79 and a current ratio of 3.11.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings data on Thursday, November 8th. The aerospace company reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.05. The company had revenue of $212.67 million for the quarter, compared to the consensus estimate of $208.59 million. Astronics had a net margin of 3.71% and a return on equity of 13.19%. Astronics’s revenue for the quarter was up 42.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 EPS. As a group, research analysts predict that Astronics will post 1.44 earnings per share for the current fiscal year.

In other Astronics news, EVP James S. Kramer sold 3,200 shares of the stock in a transaction that occurred on Wednesday, November 21st. The shares were sold at an average price of $30.06, for a total transaction of $96,192.00. Following the completion of the sale, the executive vice president now directly owns 39,632 shares of the company’s stock, valued at approximately $1,191,337.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 16.57% of the company’s stock.

Several hedge funds have recently bought and sold shares of ATRO. Bank of Montreal Can purchased a new position in shares of Astronics in the second quarter valued at $105,000. Paradice Investment Management LLC grew its holdings in shares of Astronics by 7.8% in the second quarter. Paradice Investment Management LLC now owns 638,225 shares of the aerospace company’s stock valued at $22,957,000 after purchasing an additional 46,233 shares in the last quarter. Aperio Group LLC grew its holdings in shares of Astronics by 33.4% in the second quarter. Aperio Group LLC now owns 11,026 shares of the aerospace company’s stock valued at $397,000 after purchasing an additional 2,763 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Astronics by 19.9% in the second quarter. First Trust Advisors LP now owns 28,979 shares of the aerospace company’s stock valued at $1,042,000 after purchasing an additional 4,801 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Astronics by 12.6% in the second quarter. Victory Capital Management Inc. now owns 57,975 shares of the aerospace company’s stock valued at $2,086,000 after purchasing an additional 6,466 shares in the last quarter. 66.75% of the stock is owned by hedge funds and other institutional investors.

About Astronics

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, electronics, and semiconductor industries worldwide. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems; electrical power generation, distribution, and motions systems; aircraft structures; avionics products; system certification; and connectivity and other products.

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