Astronics (NASDAQ:ATRO) Price Target Cut to $21.00 by Analysts at Truist Financial

Astronics (NASDAQ:ATRO) had its price target decreased by Truist Financial from $23.00 to $21.00 in a research report report published on Thursday,Benzinga reports. Truist Financial currently has a hold rating on the aerospace company’s stock.

Separately, StockNews.com upgraded Astronics from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th.

Astronics Stock Performance

Shares of ATRO opened at $21.76 on Thursday. The business has a 50-day simple moving average of $22.50 and a two-hundred day simple moving average of $19.17. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72. Astronics has a 52 week low of $14.13 and a 52 week high of $26.63. The stock has a market cap of $767.45 million, a price-to-earnings ratio of -114.52 and a beta of 1.26.

Astronics (NASDAQ:ATRO) last released its earnings results on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.27. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. The company had revenue of $208.54 million during the quarter, compared to analyst estimates of $194.91 million. During the same period in the prior year, the firm posted $0.35 EPS. On average, analysts expect that Astronics will post 0.82 EPS for the current year.

Insider Buying and Selling at Astronics

In related news, Director Robert S. Keane sold 77,099 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $24.55, for a total transaction of $1,892,780.45. Following the completion of the transaction, the director now owns 6,346 shares in the company, valued at approximately $155,794.30. This represents a 92.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 10.83% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. AlphaQuest LLC boosted its stake in Astronics by 355.5% during the fourth quarter. AlphaQuest LLC now owns 3,576 shares of the aerospace company’s stock valued at $57,000 after buying an additional 2,791 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Astronics by 167.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 4,156 shares of the aerospace company’s stock valued at $66,000 after acquiring an additional 2,600 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Astronics in the fourth quarter valued at $73,000. GAMMA Investing LLC increased its position in Astronics by 16,616.7% in the first quarter. GAMMA Investing LLC now owns 6,018 shares of the aerospace company’s stock worth $145,000 after purchasing an additional 5,982 shares during the last quarter. Finally, Arcadia Investment Management Corp MI purchased a new stake in Astronics during the fourth quarter valued at $135,000. Hedge funds and other institutional investors own 56.68% 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.