Truist Financial Lowers Astronics (NASDAQ:ATRO) Price Target to $17.00

Astronics (NASDAQ:ATRO) had its price target lowered by investment analysts at Truist Financial from $20.00 to $17.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the aerospace company’s stock. Truist Financial’s price objective would indicate a potential upside of 0.53% from the stock’s previous close.

Astronics Trading Up 5.2 %

NASDAQ ATRO opened at $16.91 on Tuesday. Astronics has a 12 month low of $14.13 and a 12 month high of $23.74. The company has a current ratio of 2.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.72. The stock has a 50 day moving average of $16.34 and a 200-day moving average of $18.76. The company has a market cap of $596.28 million, a PE ratio of -89.00 and a beta of 1.79.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its holdings in shares of Astronics by 15.1% in the second quarter. Bank of New York Mellon Corp now owns 116,175 shares of the aerospace company’s stock valued at $2,327,000 after purchasing an additional 15,253 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Astronics by 5.8% during the 2nd quarter. Rhumbline Advisers now owns 67,546 shares of the aerospace company’s stock worth $1,353,000 after buying an additional 3,706 shares during the period. American Century Companies Inc. grew its stake in Astronics by 70.3% in the 2nd quarter. American Century Companies Inc. now owns 26,204 shares of the aerospace company’s stock valued at $525,000 after buying an additional 10,819 shares during the last quarter. Federated Hermes Inc. raised its holdings in Astronics by 9.1% in the 2nd quarter. Federated Hermes Inc. now owns 34,875 shares of the aerospace company’s stock valued at $699,000 after acquiring an additional 2,906 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Astronics by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 888,942 shares of the aerospace company’s stock valued at $17,806,000 after acquiring an additional 40,438 shares during the period. 56.68% of the stock is currently owned by 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.