Astronics (ATRO) Downgraded to “Buy” at BidaskClub

BidaskClub downgraded shares of Astronics (NASDAQ:ATRO) from a strong-buy rating to a buy rating in a research report report published on Tuesday.

ATRO has been the subject of a number of other reports. Dougherty & Co upped their price target on shares of Astronics from $40.00 to $45.00 and gave the company a buy rating in a report on Monday, December 4th. SunTrust Banks reissued a hold rating and issued a $30.00 price target on shares of Astronics in a report on Thursday, October 12th. Canaccord Genuity reissued a buy rating and issued a $36.00 price target on shares of Astronics in a report on Thursday, October 5th. Finally, Zacks Investment Research raised shares of Astronics from a sell rating to a hold rating in a report on Friday, November 10th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Astronics has an average rating of Buy and a consensus price target of $40.00.

Astronics (NASDAQ:ATRO) opened at $40.95 on Tuesday. The stock has a market cap of $1,177.72, a PE ratio of 35.64, a P/E/G ratio of 3.27 and a beta of 1.09. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.07 and a quick ratio of 1.57. Astronics has a 12-month low of $23.95 and a 12-month high of $44.19.

Astronics (NASDAQ:ATRO) last announced its earnings results on Tuesday, November 7th. The aerospace company reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.14). Astronics had a net margin of 5.80% and a return on equity of 10.29%. The company had revenue of $149.64 million during the quarter, compared to the consensus estimate of $154.90 million. During the same quarter in the prior year, the company earned $0.41 EPS. The business’s quarterly revenue was down 3.5% on a year-over-year basis. equities analysts forecast that Astronics will post 1.29 earnings per share for the current fiscal year.

In other Astronics news, Director Robert J. Mckenna sold 45,000 shares of the company’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.45% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Legal & General Group Plc lifted its stake in Astronics by 10.7% during the second quarter. Legal & General Group Plc now owns 5,630 shares of the aerospace company’s stock valued at $172,000 after buying an additional 546 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in Astronics by 26.4% during the second quarter. BNP Paribas Arbitrage SA now owns 5,999 shares of the aerospace company’s stock valued at $183,000 after buying an additional 1,254 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in Astronics during the second quarter valued at about $294,000. Tudor Investment Corp ET AL lifted its stake in Astronics by 28.5% during the second quarter. Tudor Investment Corp ET AL now owns 9,727 shares of the aerospace company’s stock valued at $296,000 after buying an additional 2,158 shares in the last quarter. Finally, Voya Investment Management LLC lifted its stake in Astronics by 11.2% during the second quarter. Voya Investment Management LLC now owns 10,719 shares of the aerospace company’s stock valued at $327,000 after buying an additional 1,078 shares in the last quarter. 65.77% of the stock is owned by institutional investors.

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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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