Astronics (NASDAQ:ATRO) Price Target Cut to $20.00

Astronics (NASDAQ:ATRO) had its price objective dropped by analysts at Truist Financial from $22.00 to $20.00 in a research report issued on Friday, Marketbeat reports. The brokerage currently has a “hold” rating on the aerospace company’s stock. Truist Financial’s price target would indicate a potential upside of 5.21% from the company’s previous close.

Astronics Price Performance

Shares of ATRO opened at $19.01 on Friday. The company has a 50 day moving average of $19.97 and a two-hundred day moving average of $19.60. The company has a quick ratio of 1.50, a current ratio of 2.92 and a debt-to-equity ratio of 0.67. Astronics has a twelve month low of $14.11 and a twelve month high of $23.74. The company has a market cap of $662.35 million, a price-to-earnings ratio of -24.69 and a beta of 1.82.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Thursday, August 1st. The aerospace company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.13). Astronics had a negative return on equity of 0.31% and a negative net margin of 1.57%. The business had revenue of $198.11 million during the quarter, compared to analyst estimates of $191.19 million. During the same period in the previous year, the business earned ($0.37) EPS. As a group, analysts predict that Astronics will post 0.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Astronics

Several institutional investors and hedge funds have recently made changes to their positions in ATRO. Point72 Asset Management L.P. acquired a new stake in shares of Astronics during the second quarter worth about $25,000. nVerses Capital LLC acquired a new stake in Astronics during the 2nd quarter valued at approximately $28,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Astronics in the 1st quarter valued at $31,000. Allspring Global Investments Holdings LLC increased its stake in shares of Astronics by 4,973.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 10,958 shares of the aerospace company’s stock worth $219,000 after acquiring an additional 10,742 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Astronics by 10.8% in the second quarter. The Manufacturers Life Insurance Company now owns 11,195 shares of the aerospace company’s stock worth $224,000 after acquiring an additional 1,094 shares during the period. 56.68% of the stock is currently owned by institutional investors and hedge funds.

Astronics Company Profile

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.