Astronics (NASDAQ:ATRO – Get Free Report) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.
Separately, Truist Financial upped their price objective on Astronics from $13.00 to $15.00 in a research note on Wednesday, May 10th.
Astronics Trading Down 0.5 %
Astronics stock opened at $21.70 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.19 and a current ratio of 2.55. Astronics has a 1 year low of $7.46 and a 1 year high of $22.44. The firm’s 50-day moving average is $18.15 and its 200-day moving average is $15.34. The company has a market cap of $704.38 million, a P/E ratio of -18.87 and a beta of 1.61.
Astronics (NASDAQ:ATRO – Get Free Report) last issued its earnings results on Tuesday, May 9th. The aerospace company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.06). The business had revenue of $156.54 million during the quarter, compared to the consensus estimate of $142.54 million. Astronics had a negative return on equity of 15.34% and a negative net margin of 6.44%. On average, equities analysts expect that Astronics will post -0.1 earnings per share for the current year.
Insiders Place Their Bets
In other Astronics news, Director Robert S. Keane sold 6,500 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $17.00, for a total transaction of $110,500.00. Following the transaction, the director now owns 37,700 shares of the company’s stock, valued at approximately $640,900. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 10.86% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of ATRO. Allspring Global Investments Holdings LLC boosted its position in shares of Astronics by 91.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,352 shares of the aerospace company’s stock valued at $86,000 after purchasing an additional 2,076 shares in the last quarter. Putnam Investments LLC acquired a new stake in shares of Astronics during the 1st quarter valued at $342,000. Ameriprise Financial Inc. acquired a new stake in shares of Astronics during the 1st quarter valued at $573,000. SkyView Investment Advisors LLC bought a new stake in shares of Astronics during the 1st quarter worth $67,000. Finally, State Street Corp raised its position in shares of Astronics by 2.7% during the first quarter. State Street Corp now owns 492,525 shares of the aerospace company’s stock worth $6,580,000 after purchasing an additional 12,997 shares during the period. Institutional investors own 55.88% of the company’s stock.
About Astronics
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.