Astronics Co. (NASDAQ:ATRO) – Equities research analysts at Dougherty & Co dropped their FY2020 earnings per share estimates for Astronics in a research report issued on Thursday, November 7th. Dougherty & Co analyst R. Ryan now anticipates that the aerospace company will post earnings of $1.50 per share for the year, down from their prior forecast of $1.65. Dougherty & Co currently has a “Buy” rating and a $38.00 price target on the stock.
Astronics (NASDAQ:ATRO) last posted its earnings results on Monday, August 5th. The aerospace company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.16). The firm had revenue of $189.10 million during the quarter, compared to analysts’ expectations of $188.80 million. Astronics had a return on equity of 7.90% and a net margin of 12.68%. Astronics’s quarterly revenue was down 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 earnings per share.
Shares of NASDAQ:ATRO traded up $0.16 during mid-day trading on Friday, reaching $31.07. The stock had a trading volume of 172,400 shares, compared to its average volume of 240,472. The company has a current ratio of 2.97, a quick ratio of 1.77 and a debt-to-equity ratio of 0.26. The company has a market cap of $1.03 billion, a P/E ratio of 22.04, a price-to-earnings-growth ratio of 2.42 and a beta of 1.40. Astronics has a 1 year low of $25.85 and a 1 year high of $44.34. The business’s 50 day moving average price is $29.81 and its 200 day moving average price is $34.20.
Hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC increased its stake in Astronics by 481.7% during the second quarter. Tower Research Capital LLC TRC now owns 733 shares of the aerospace company’s stock worth $30,000 after acquiring an additional 607 shares during the last quarter. New York State Teachers Retirement System bought a new stake in Astronics during the second quarter worth approximately $76,000. Point72 Hong Kong Ltd bought a new stake in Astronics during the second quarter worth approximately $88,000. Bank of Montreal Can increased its stake in Astronics by 67.3% during the second quarter. Bank of Montreal Can now owns 2,622 shares of the aerospace company’s stock worth $105,000 after acquiring an additional 1,055 shares during the last quarter. Finally, First Mercantile Trust Co. bought a new stake in Astronics during the third quarter worth approximately $108,000. 66.82% of the stock is currently owned by institutional investors.
In other Astronics news, CFO David C. Burney sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $26.20, for a total transaction of $104,800.00. Following the sale, the chief financial officer now directly owns 33,434 shares of the company’s stock, valued at $875,970.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 15.80% of the company’s stock.
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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