Astronics Co. (ATRO) Receives $40.67 Consensus Price Target from Analysts

Astronics Co. (NASDAQ:ATRO) has received a consensus rating of “Hold” from the seven research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $40.67.

Several brokerages have recently issued reports on ATRO. BidaskClub cut shares of Astronics from a “buy” rating to a “hold” rating in a research note on Thursday, September 13th. Canaccord Genuity lowered their price objective on shares of Astronics from $44.00 to $38.00 and set a “hold” rating for the company in a research note on Tuesday, October 16th. Zacks Investment Research raised shares of Astronics from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. TheStreet raised shares of Astronics from a “c+” rating to a “b-” rating in a research note on Tuesday, October 9th. Finally, ValuEngine cut shares of Astronics from a “buy” rating to a “hold” rating in a research note on Friday, October 12th.

In related news, EVP James S. Kramer sold 3,200 shares of the company’s stock in a transaction 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 filing with the SEC, which can be accessed through the SEC website. 16.57% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. DDD Partners LLC purchased a new stake in Astronics during the 2nd quarter worth $324,000. Schwab Charles Investment Management Inc. boosted its position in Astronics by 7.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 114,147 shares of the aerospace company’s stock worth $4,106,000 after purchasing an additional 8,078 shares during the period. Federated Investors Inc. PA purchased a new stake in Astronics during the 2nd quarter worth $5,172,000. California Public Employees Retirement System boosted its position in Astronics by 13.9% during the 2nd quarter. California Public Employees Retirement System now owns 21,529 shares of the aerospace company’s stock worth $774,000 after purchasing an additional 2,629 shares during the period. Finally, HGK Asset Management Inc. boosted its position in Astronics by 17.2% during the 2nd quarter. HGK Asset Management Inc. now owns 15,678 shares of the aerospace company’s stock worth $564,000 after purchasing an additional 2,297 shares during the period. 66.75% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ ATRO opened at $30.91 on Wednesday. Astronics has a 52-week low of $27.56 and a 52-week high of $49.45. The firm has a market cap of $987.84 million, a PE ratio of 19.98, a P/E/G ratio of 2.13 and a beta of 1.96. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.11 and a quick ratio of 1.79.

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

Astronics Company Profile

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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