Astronics (ATRO) Cut to Buy at BidaskClub

Astronics (NASDAQ:ATRO) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday.

Several other equities research analysts also recently issued reports on ATRO. Canaccord Genuity reissued a “buy” rating and set a $46.00 price objective on shares of Astronics in a research report on Tuesday. Dougherty & Co increased their price objective on shares of Astronics from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, December 4th. SunTrust Banks reissued a “hold” rating and set a $35.00 price objective on shares of Astronics in a research report on Friday, November 10th. Finally, Zacks Investment Research raised shares of Astronics from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $40.00.

Shares of Astronics (NASDAQ:ATRO) traded down $1.11 during mid-day trading on Tuesday, hitting $40.95. 181,790 shares of the stock traded hands, compared to its average volume of 147,668. 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 52 week low of $23.95 and a 52 week high of $44.19. The company has a market capitalization of $1,211.04, a P/E ratio of 36.65, a price-to-earnings-growth ratio of 3.37 and a beta of 1.09.

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

In related news, Director Robert J. Mckenna sold 45,000 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $39.00, for a total value of $1,755,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 16.45% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. FMR LLC grew its position in Astronics by 46.5% in the second quarter. FMR LLC now owns 2,028,637 shares of the aerospace company’s stock valued at $61,813,000 after purchasing an additional 643,968 shares in the last quarter. Royal Bank of Canada grew its position in Astronics by 5.5% in the second quarter. Royal Bank of Canada now owns 1,519,555 shares of the aerospace company’s stock valued at $46,301,000 after purchasing an additional 79,281 shares in the last quarter. Vanguard Group Inc. grew its position in Astronics by 4.1% in the second quarter. Vanguard Group Inc. now owns 982,669 shares of the aerospace company’s stock valued at $29,942,000 after purchasing an additional 38,743 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Astronics by 2.2% in the third quarter. Dimensional Fund Advisors LP now owns 770,713 shares of the aerospace company’s stock valued at $22,929,000 after purchasing an additional 16,881 shares in the last quarter. Finally, State Street Corp grew its position in Astronics by 24.7% in the second quarter. State Street Corp now owns 641,261 shares of the aerospace company’s stock valued at $19,543,000 after purchasing an additional 127,165 shares in the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

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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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