Astronics (NASDAQ:ATRO) Price Target Raised to $23.00

Astronics (NASDAQ:ATRO) had its price objective raised by analysts at Truist Financial from $17.00 to $23.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the aerospace company’s stock. Truist Financial’s target price points to a potential downside of 6.11% from the company’s current price.

Separately, StockNews.com downgraded shares of Astronics from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th.

Astronics Trading Up 22.7 %

Astronics stock traded up $4.54 during midday trading on Wednesday, reaching $24.50. The stock had a trading volume of 1,599,606 shares, compared to its average volume of 318,310. Astronics has a 52-week low of $14.13 and a 52-week high of $25.06. The company has a fifty day moving average of $17.67 and a 200 day moving average of $18.23. The firm has a market cap of $863.85 million, a price-to-earnings ratio of -128.39 and a beta of 1.79. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings results on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.27. The firm had revenue of $208.54 million during the quarter, compared to analyst estimates of $194.91 million. Astronics had a positive return on equity of 6.94% and a negative net margin of 0.82%. During the same period last year, the company earned $0.35 EPS. On average, analysts anticipate that Astronics will post 0.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Black Swift Group LLC bought a new position in shares of Astronics during the 3rd quarter worth $756,000. RiverPark Advisors LLC grew its holdings in Astronics by 3.5% during the 3rd quarter. RiverPark Advisors LLC now owns 30,394 shares of the aerospace company’s stock worth $592,000 after acquiring an additional 1,015 shares in the last quarter. Advisors Asset Management Inc. increased its position in Astronics by 32.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 84,181 shares of the aerospace company’s stock valued at $1,640,000 after purchasing an additional 20,514 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Astronics by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 81,169 shares of the aerospace company’s stock valued at $1,581,000 after purchasing an additional 1,432 shares in the last quarter. Finally, Algert Global LLC lifted its position in shares of Astronics by 367.2% in the 3rd quarter. Algert Global LLC now owns 56,072 shares of the aerospace company’s stock worth $1,092,000 after purchasing an additional 44,070 shares during the period. Institutional investors own 56.68% of the company’s stock.

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.