Astronics (NASDAQ:ATRO) Given New $19.00 Price Target at Truist Financial

Astronics (NASDAQ:ATRO) had its price objective cut by Truist Financial from $21.00 to $19.00 in a research note published on Friday, Benzinga reports. They currently have a hold rating on the aerospace company’s stock.

Separately, StockNews.com upgraded shares of Astronics from a hold rating to a buy rating in a report on Thursday, February 29th.

Astronics Stock Up 6.7 %

Shares of ATRO stock traded up $1.15 during trading hours on Friday, hitting $18.37. 183,127 shares of the company’s stock traded hands, compared to its average volume of 99,787. The company has a quick ratio of 1.38, a current ratio of 2.72 and a debt-to-equity ratio of 0.64. The stock has a market cap of $634.13 million, a price-to-earnings ratio of -23.86 and a beta of 1.64. The stock’s fifty day simple moving average is $17.75 and its two-hundred day simple moving average is $16.92. Astronics has a 12-month low of $14.06 and a 12-month high of $22.44.

Astronics (NASDAQ:ATRO) last released its earnings results on Thursday, May 2nd. The aerospace company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.14). The company had revenue of $185.07 million during the quarter, compared to the consensus estimate of $172.74 million. Astronics had a negative return on equity of 6.02% and a negative net margin of 3.51%. During the same period last year, the firm posted ($0.14) earnings per share. On average, analysts expect that Astronics will post 0.71 EPS for the current year.

Insider Transactions at Astronics

In other Astronics news, EVP Michael C. Kuehn sold 2,209 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $20.16, for a total transaction of $44,533.44. Following the completion of the transaction, the executive vice president now owns 14,248 shares in the company, valued at $287,239.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Michael C. Kuehn sold 2,209 shares of Astronics stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $20.16, for a total transaction of $44,533.44. Following the completion of the sale, the executive vice president now owns 14,248 shares in the company, valued at approximately $287,239.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael C. Kuehn sold 7,074 shares of Astronics stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $17.72, for a total transaction of $125,351.28. Following the sale, the executive vice president now directly owns 12,875 shares of the company’s stock, valued at approximately $228,145. The disclosure for this sale can be found here. Insiders own 10.86% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. BKM Wealth Management LLC purchased a new stake in shares of Astronics during the fourth quarter worth about $64,000. Psagot Value Holdings Ltd. Israel grew its position in Astronics by 856.5% during the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 4,352 shares of the aerospace company’s stock worth $77,000 after purchasing an additional 3,897 shares during the period. RiverPark Advisors LLC purchased a new position in shares of Astronics during the 3rd quarter valued at about $75,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Astronics in the third quarter worth about $178,000. Finally, Clear Rock Advisors LLC acquired a new stake in Astronics during the fourth quarter worth about $204,000. 56.68% of the stock is owned by institutional investors.

About Astronics

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.