Astronics (ATRO) Rating Increased to Strong-Buy at BidaskClub

BidaskClub upgraded shares of Astronics (NASDAQ:ATRO) from a buy rating to a strong-buy rating in a report published on Thursday, BidAskClub reports.

A number of other brokerages also recently weighed in on ATRO. Zacks Investment Research upgraded shares of Astronics from a sell rating to a hold rating and set a $45.00 price target on the stock in a research report on Thursday, May 9th. ValuEngine upgraded shares of Astronics from a hold rating to a buy rating in a report on Wednesday, May 8th. Finally, Seaport Global Securities started coverage on shares of Astronics in a report on Wednesday, May 1st. They set a buy rating and a $42.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $41.67.

Shares of NASDAQ:ATRO opened at $41.39 on Thursday. The company has a market capitalization of $1.35 billion, a P/E ratio of 29.35, a PEG ratio of 2.24 and a beta of 1.79. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.50 and a current ratio of 2.44. Astronics has a fifty-two week low of $27.56 and a fifty-two week high of $46.56.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings results on Wednesday, May 8th. The aerospace company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.11. The business had revenue of $208.20 million for the quarter, compared to the consensus estimate of $192.10 million. Astronics had a net margin of 14.61% and a return on equity of 15.16%. Astronics’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same period last year, the company posted $0.11 EPS. On average, analysts forecast that Astronics will post 1.92 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. Connors Investor Services Inc. raised its holdings in Astronics by 0.7% during the 1st quarter. Connors Investor Services Inc. now owns 56,960 shares of the aerospace company’s stock worth $1,864,000 after buying an additional 378 shares during the period. First Interstate Bank raised its holdings in Astronics by 17.5% during the 4th quarter. First Interstate Bank now owns 3,555 shares of the aerospace company’s stock worth $108,000 after buying an additional 530 shares during the period. PNC Financial Services Group Inc. raised its holdings in Astronics by 196.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 872 shares of the aerospace company’s stock worth $29,000 after buying an additional 578 shares during the period. Pinnacle Associates Ltd. raised its holdings in Astronics by 4.0% during the 1st quarter. Pinnacle Associates Ltd. now owns 15,670 shares of the aerospace company’s stock worth $513,000 after buying an additional 600 shares during the period. Finally, Legal & General Group Plc raised its holdings in Astronics by 23.7% during the 4th quarter. Legal & General Group Plc now owns 4,015 shares of the aerospace company’s stock worth $122,000 after buying an additional 770 shares during the period. Hedge funds and other institutional investors own 63.88% of the company’s stock.

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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