Astronics (NASDAQ:ATRO) Raised to “Buy” at StockNews.com

Astronics (NASDAQ:ATRO) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

Separately, Truist Financial lowered their target price on Astronics from $20.00 to $17.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th.

Astronics Stock Performance

NASDAQ:ATRO traded down $0.08 during mid-day trading on Tuesday, reaching $17.04. The stock had a trading volume of 149,805 shares, compared to its average volume of 233,765. The firm has a market capitalization of $600.83 million, a price-to-earnings ratio of -89.68 and a beta of 1.79. Astronics has a twelve month low of $14.13 and a twelve month high of $23.74. The business has a 50 day simple moving average of $16.37 and a 200 day simple moving average of $18.54. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.46 and a current ratio of 2.83.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. SG Americas Securities LLC boosted its holdings in Astronics by 25.1% in the 4th quarter. SG Americas Securities LLC now owns 14,250 shares of the aerospace company’s stock worth $227,000 after acquiring an additional 2,863 shares during the period. JPMorgan Chase & Co. grew its stake in Astronics by 108.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 92,954 shares of the aerospace company’s stock valued at $1,811,000 after purchasing an additional 48,328 shares in the last quarter. Franklin Resources Inc. increased its holdings in Astronics by 6.7% during the 3rd quarter. Franklin Resources Inc. now owns 20,189 shares of the aerospace company’s stock worth $411,000 after purchasing an additional 1,274 shares during the last quarter. Barclays PLC raised its position in shares of Astronics by 328.2% in the 3rd quarter. Barclays PLC now owns 45,313 shares of the aerospace company’s stock valued at $883,000 after purchasing an additional 34,730 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Astronics by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 691,522 shares of the aerospace company’s stock valued at $13,474,000 after buying an additional 13,469 shares during the last quarter. 56.68% of the stock is currently owned by hedge funds and other institutional investors.

Astronics Company Profile

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.