Zacks: Brokerages Expect Astronics Co. (NASDAQ:ATRO) Will Announce Quarterly Sales of $175.62 Million

Equities research analysts forecast that Astronics Co. (NASDAQ:ATRO) will post $175.62 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Astronics’ earnings. The highest sales estimate is $178.00 million and the lowest is $173.23 million. Astronics posted sales of $212.67 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 17.4%. The company is scheduled to issue its next quarterly earnings results on Monday, November 4th.

On average, analysts expect that Astronics will report full-year sales of $745.31 million for the current year, with estimates ranging from $736.61 million to $754.00 million. For the next year, analysts expect that the company will post sales of $773.76 million, with estimates ranging from $756.01 million to $791.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Astronics.

Astronics (NASDAQ:ATRO) last issued its earnings results on Monday, August 5th. The aerospace company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.16). The company had revenue of $189.10 million for the quarter, compared to analysts’ expectations of $188.80 million. Astronics had a return on equity of 12.24% and a net margin of 14.07%. Astronics’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 earnings per share.

Several equities research analysts have commented on the stock. BidaskClub lowered shares of Astronics from a “hold” rating to a “sell” rating in a research report on Friday, September 27th. Dougherty & Co reissued a “buy” rating and set a $40.00 price target (down previously from $46.00) on shares of Astronics in a research report on Tuesday, August 6th. ValuEngine downgraded Astronics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. TheStreet downgraded Astronics from a “b-” rating to a “c+” rating in a research report on Monday, August 26th. Finally, SunTrust Banks reduced their price target on Astronics to $26.00 and set a “sell” rating on the stock in a research report on Tuesday, August 6th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Astronics has an average rating of “Hold” and an average target price of $38.20.

In other news, VP Mark Peabody sold 2,000 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $35.78, for a total value of $71,560.00. Following the completion of the transaction, the vice president now directly owns 9,761 shares in the company, valued at approximately $349,248.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David C. Burney sold 4,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $26.20, for a total value of $104,800.00. Following the completion of the transaction, the chief financial officer now owns 33,434 shares of the company’s stock, valued at $875,970.80. The disclosure for this sale can be found here. Insiders have sold 8,000 shares of company stock worth $252,540 in the last three months. 15.80% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Astronics by 11.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,764,627 shares of the aerospace company’s stock valued at $70,973,000 after acquiring an additional 181,711 shares during the last quarter. International Value Advisers LLC lifted its stake in shares of Astronics by 7.7% in the 1st quarter. International Value Advisers LLC now owns 1,601,134 shares of the aerospace company’s stock valued at $52,389,000 after acquiring an additional 115,105 shares during the last quarter. Federated Investors Inc. PA lifted its stake in shares of Astronics by 14.6% in the 1st quarter. Federated Investors Inc. PA now owns 635,859 shares of the aerospace company’s stock valued at $20,805,000 after acquiring an additional 81,109 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Astronics by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 549,061 shares of the aerospace company’s stock valued at $22,083,000 after acquiring an additional 18,593 shares during the last quarter. Finally, Nuveen Asset Management LLC bought a new position in shares of Astronics in the 2nd quarter valued at $14,758,000. Institutional investors own 66.05% of the company’s stock.

Shares of NASDAQ ATRO traded up $0.25 during trading on Friday, hitting $28.75. 4,186 shares of the company were exchanged, compared to its average volume of 239,761. The company has a market cap of $931.21 million, a price-to-earnings ratio of 20.39, a PEG ratio of 2.06 and a beta of 1.42. Astronics has a 1 year low of $25.85 and a 1 year high of $44.34. The firm’s fifty day moving average price is $28.86 and its 200 day moving average price is $34.56. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.97 and a quick ratio of 1.77.

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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Earnings History and Estimates for Astronics (NASDAQ:ATRO)

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