Astronics (NASDAQ:ATRO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, January 2nd. The firm presently has a $46.00 price objective on the aerospace company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 12.28% from the company’s current price.
According to Zacks, “Astronics Corporation is a manufacturer of specialized lighting and electronics for the cockpit, cabin and exteriors of military, commercial transport and private business jet aircraft. A major lighting and electronics supplier to the aircraft industry, its strategy is to expand from a components and subsystems supplier to an aircraft lighting systems integrator, increasing the value and content it provides to various aircraft platforms. Luminescent Systems Inc. is Astronics’ primary operating subsidiary which produces its aerospace and defense products. “
Other analysts have also recently issued research reports about the company. BidaskClub cut Astronics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 12th. Canaccord Genuity restated a “buy” rating and set a $46.00 target price on shares of Astronics in a report on Tuesday, December 12th. SunTrust Banks restated a “hold” rating and set a $35.00 target price on shares of Astronics in a report on Friday, November 10th. Finally, Dougherty & Co increased their target price on Astronics from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $45.25.
Astronics (ATRO) traded up $0.75 on Tuesday, reaching $40.97. The company had a trading volume of 93,100 shares, compared to its average volume of 111,150. Astronics has a 12-month low of $23.95 and a 12-month high of $44.19. The firm has a market cap of $1,330.00, a price-to-earnings ratio of 34.72, a P/E/G ratio of 2.13 and a beta of 1.52. The company has a current ratio of 3.07, a quick ratio of 1.57 and a debt-to-equity ratio of 0.52.
Astronics (NASDAQ:ATRO) last issued its earnings results on Tuesday, November 7th. The aerospace company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.14). Astronics had a net margin of 5.80% and a return on equity of 10.29%. The firm had revenue of $149.64 million during the quarter, compared to analyst estimates of $154.90 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. research analysts expect that Astronics will post 1.29 EPS for the current year.
Astronics declared that its board has authorized a stock repurchase plan on Monday, December 18th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
In other Astronics news, Director Robert J. Mckenna sold 45,000 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $39.00, for a total value of $1,755,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 16.45% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Legal & General Group Plc raised its position in shares of Astronics by 10.7% during the second quarter. Legal & General Group Plc now owns 5,630 shares of the aerospace company’s stock worth $172,000 after purchasing an additional 546 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Astronics by 26.4% during the second quarter. BNP Paribas Arbitrage SA now owns 5,999 shares of the aerospace company’s stock worth $183,000 after purchasing an additional 1,254 shares during the period. Marshall Wace North America L.P. acquired a new stake in shares of Astronics during the second quarter worth about $294,000. Tudor Investment Corp ET AL raised its position in shares of Astronics by 28.5% during the second quarter. Tudor Investment Corp ET AL now owns 9,727 shares of the aerospace company’s stock worth $296,000 after purchasing an additional 2,158 shares during the period. Finally, Voya Investment Management LLC raised its position in shares of Astronics by 11.2% during the second quarter. Voya Investment Management LLC now owns 10,719 shares of the aerospace company’s stock worth $327,000 after purchasing an additional 1,078 shares during the period. 65.77% of the stock is currently owned by hedge funds and other institutional investors.
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Astronics Corporation is a supplier of products to the aerospace, defense, electronics and semiconductor industries. The Company’s products and services include electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems.
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