Astronics (NASDAQ:ATRO) Receives Hold Rating from SunTrust Banks

SunTrust Banks reaffirmed their hold rating on shares of Astronics (NASDAQ:ATRO) in a research note published on Friday, January 19th. They currently have a $48.00 price target on the aerospace company’s stock. SunTrust Banks also issued estimates for Astronics’ FY2017 earnings at $1.34 EPS.

A number of other analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Astronics from a hold rating to a buy rating and set a $46.00 price objective for the company in a report on Tuesday, January 2nd. Canaccord Genuity reissued a buy rating and issued a $40.00 price target on shares of Astronics in a research note on Tuesday, November 7th. BidaskClub raised shares of Astronics from a buy rating to a strong-buy rating in a research note on Friday, December 22nd. Finally, Dougherty & Co boosted their price target on shares of Astronics from $40.00 to $45.00 and gave the stock a buy rating in a research note on Monday, December 4th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $46.25.

Astronics (ATRO) traded up $1.01 during midday trading on Friday, hitting $41.43. 78,380 shares of the stock were exchanged, compared to its average volume of 127,128. Astronics has a 52 week low of $23.95 and a 52 week high of $49.45. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.07 and a quick ratio of 1.57. The company has a market cap of $1,180.00, a P/E ratio of 34.79, a P/E/G ratio of 2.00 and a beta of 1.58.

Astronics announced that its board has authorized a stock repurchase program on Monday, December 18th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

In other Astronics news, Director Robert J. Mckenna sold 45,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $39.00, for a total value of $1,755,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Peter J. Gundermann sold 2,000 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $38.99, for a total transaction of $77,980.00. Following the completion of the transaction, the chief executive officer now owns 29,595 shares in the company, valued at approximately $1,153,909.05. The disclosure for this sale can be found here. Insiders sold 49,000 shares of company stock valued at $1,919,940 over the last three months. 16.45% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in ATRO. FMR LLC raised its position in Astronics by 46.5% in the second quarter. FMR LLC now owns 2,028,637 shares of the aerospace company’s stock worth $61,813,000 after acquiring an additional 643,968 shares during the period. Paradice Investment Management LLC purchased a new stake in Astronics during the 3rd quarter worth about $14,771,000. International Value Advisers LLC purchased a new stake in Astronics during the 3rd quarter worth about $12,133,000. NWQ Investment Management Company LLC purchased a new stake in Astronics during the 4th quarter worth about $14,580,000. Finally, Sei Investments Co. increased its position in Astronics by 7,291,550.0% during the 3rd quarter. Sei Investments Co. now owns 145,833 shares of the aerospace company’s stock worth $8,953,000 after purchasing an additional 145,831 shares in the last quarter. Hedge funds and other institutional investors own 65.38% of the company’s stock.

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About Astronics

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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