A number of other equities analysts also recently commented on the company. TheStreet downgraded Astronics from a c- rating to a d rating in a report on Wednesday, May 6th. Canaccord Genuity dropped their price objective on Astronics from $14.00 to $10.00 and set a hold rating on the stock in a report on Thursday, May 7th. Zacks Investment Research downgraded Astronics from a hold rating to a sell rating in a report on Friday, July 17th. Finally, SunTrust Banks decreased their target price on Astronics from $7.00 to $6.00 and set a sell rating for the company in a research report on Thursday, May 7th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $18.00.
NASDAQ:ATRO opened at $8.70 on Wednesday. The stock’s 50 day moving average price is $9.84 and its 200 day moving average price is $14.14. Astronics has a 52 week low of $6.99 and a 52 week high of $38.04. The company has a market capitalization of $267.53 million, a P/E ratio of -2.87 and a beta of 1.69. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.85 and a current ratio of 4.11.
Astronics (NASDAQ:ATRO) last released its quarterly earnings data on Wednesday, May 6th. The aerospace company reported ($2.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($2.10). Astronics had a positive return on equity of 3.49% and a negative net margin of 12.89%. The firm had revenue of $157.58 million during the quarter, compared to analyst estimates of $129.52 million. As a group, sell-side analysts forecast that Astronics will post -0.78 earnings per share for the current fiscal year.
In related news, Director Jeffry D. Frisby bought 4,100 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was purchased at an average price of $8.78 per share, with a total value of $35,998.00. 14.81% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of ATRO. Federated Hermes Inc. boosted its position in shares of Astronics by 285.6% in the first quarter. Federated Hermes Inc. now owns 4,465 shares of the aerospace company’s stock valued at $41,000 after acquiring an additional 3,307 shares during the period. Great West Life Assurance Co. Can bought a new stake in shares of Astronics in the fourth quarter valued at approximately $45,000. Aigen Investment Management LP boosted its position in shares of Astronics by 128.3% in the first quarter. Aigen Investment Management LP now owns 5,594 shares of the aerospace company’s stock valued at $51,000 after acquiring an additional 3,144 shares during the period. Hancock Whitney Corp bought a new stake in shares of Astronics in the first quarter valued at approximately $92,000. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Astronics by 43.3% in the first quarter. BNP Paribas Arbitrage SA now owns 11,284 shares of the aerospace company’s stock valued at $104,000 after acquiring an additional 3,409 shares during the period. 67.13% of the stock is owned by institutional investors.
Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, electronics, and semiconductor industries worldwide. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems; electrical power generation, distribution, and motions systems; aircraft structures; avionics products; system certification; and connectivity and other products.
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