Astronics’ (ATRO) “Hold” Rating Reiterated at SunTrust Banks

SunTrust Banks reissued their hold rating on shares of Astronics (NASDAQ:ATRO) in a research note published on Tuesday. The brokerage currently has a $44.00 price objective on the aerospace company’s stock. SunTrust Banks also issued estimates for Astronics’ FY2018 earnings at $2.22 EPS and FY2019 earnings at $2.43 EPS.

Several other equities analysts have also weighed in on the company. Canaccord Genuity reissued a buy rating and set a $40.00 price objective on shares of Astronics in a report on Tuesday, November 7th. Dougherty & Co increased their price objective on Astronics from $40.00 to $45.00 and gave the company a buy rating in a report on Monday, December 4th. BidaskClub lowered Astronics from a strong-buy rating to a buy rating in a report on Tuesday, December 12th. Finally, Zacks Investment Research raised Astronics from a strong sell rating to a hold rating in a report on Tuesday, October 17th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Astronics currently has a consensus rating of Buy and a consensus price target of $45.25.

Shares of Astronics (ATRO) traded up $0.75 during midday trading on Tuesday, reaching $40.97. The company’s stock had a trading volume of 93,100 shares, compared to its average volume of 111,150. Astronics has a 1-year low of $23.95 and a 1-year high of $44.19. The company has a market capitalization of $1,360.00, a price-to-earnings ratio of 34.72, a price-to-earnings-growth ratio of 2.13 and a beta of 1.52. The company has a current ratio of 3.07, a quick ratio of 1.57 and a debt-to-equity ratio of 0.52.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings data on Tuesday, November 7th. The aerospace company reported $0.21 earnings per share for the quarter, missing the 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 firm had revenue of $149.64 million for the quarter, compared to the consensus estimate of $154.90 million. During the same period last year, the company posted $0.41 earnings per share. Astronics’s revenue for the quarter was down 3.5% on a year-over-year basis. equities research analysts anticipate that Astronics will post 1.29 earnings per share for the current fiscal year.

Astronics declared that its board has approved a share buyback program on Monday, December 18th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

In other news, Director Robert J. Mckenna sold 45,000 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $39.00, for a total value of $1,755,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 16.45% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. FMR LLC raised its position in shares of Astronics by 46.5% in the second quarter. FMR LLC now owns 2,028,637 shares of the aerospace company’s stock worth $61,813,000 after buying an additional 643,968 shares in the last quarter. Paradice Investment Management LLC purchased a new stake in shares of Astronics in the third quarter worth $14,771,000. International Value Advisers LLC purchased a new stake in shares of Astronics in the third quarter worth $12,133,000. Sei Investments Co. raised its position in shares of Astronics by 7,291,550.0% in the third quarter. Sei Investments Co. now owns 145,833 shares of the aerospace company’s stock worth $8,953,000 after buying an additional 145,831 shares in the last quarter. Finally, State Street Corp raised its position in shares of Astronics by 24.7% in the second quarter. State Street Corp now owns 641,261 shares of the aerospace company’s stock worth $19,543,000 after buying an additional 127,165 shares in the last quarter. 65.77% of the stock is owned by hedge funds and other 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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