Astronics Co. (NASDAQ:ATRO) has been assigned a consensus rating of “Buy” from the six analysts that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $46.33.
A number of analysts have weighed in on ATRO shares. Zacks Investment Research upgraded Astronics from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Tuesday, January 2nd. BidaskClub upgraded Astronics from a “buy” rating to a “strong-buy” rating in a report on Friday, December 22nd. SunTrust Banks restated a “hold” rating and set a $44.00 target price on shares of Astronics in a report on Tuesday, January 9th. Dougherty & Co upped their target price on Astronics from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, December 4th. Finally, Canaccord Genuity restated a “buy” rating and set a $40.00 target price on shares of Astronics in a report on Tuesday, November 7th.
In other news, CEO Peter J. Gundermann sold 2,000 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $43.48, for a total transaction of $86,960.00. Following the completion of the sale, the chief executive officer now owns 31,595 shares in the company, valued at approximately $1,373,750.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert J. Mckenna sold 45,000 shares of the stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $39.00, for a total value of $1,755,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,000 shares of company stock valued at $1,919,940. Company insiders own 16.45% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of ATRO. Sei Investments Co. increased its position in shares of Astronics by 7,291,550.0% in the 3rd quarter. Sei Investments Co. now owns 145,833 shares of the aerospace company’s stock valued at $8,953,000 after acquiring an additional 145,831 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Astronics by 8.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 87,636 shares of the aerospace company’s stock valued at $2,671,000 after acquiring an additional 6,922 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Astronics by 69.7% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 36,068 shares of the aerospace company’s stock valued at $1,073,000 after acquiring an additional 14,810 shares during the period. State Street Corp increased its position in shares of Astronics by 24.7% in the 2nd quarter. State Street Corp now owns 641,261 shares of the aerospace company’s stock valued at $19,543,000 after acquiring an additional 127,165 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of Astronics by 116.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 31,329 shares of the aerospace company’s stock valued at $955,000 after acquiring an additional 16,842 shares during the period. Hedge funds and other institutional investors own 67.63% of the company’s stock.
Shares of Astronics (ATRO) opened at $41.88 on Friday. The company has a current ratio of 3.07, a quick ratio of 1.57 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $1,172.68, a price-to-earnings ratio of 35.49, a price-to-earnings-growth ratio of 2.10 and a beta of 1.16. Astronics has a twelve month low of $23.95 and a twelve month high of $49.45.
Astronics announced that its Board of Directors has approved a stock repurchase plan on Monday, December 18th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the aerospace company to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
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Astronics Company Profile
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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