Astronics (NASDAQ:ATRO) Stock Rating Lowered by StockNews.com

Astronics (NASDAQ:ATRO) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Separately, Truist Financial reduced their price target on Astronics from $20.00 to $17.00 and set a “hold” rating for the company in a report on Tuesday.

Astronics Price Performance

Shares of NASDAQ ATRO opened at $16.72 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46. The business has a 50-day moving average of $16.32 and a 200-day moving average of $18.75. The stock has a market capitalization of $589.55 million, a price-to-earnings ratio of -88.00 and a beta of 1.79. Astronics has a fifty-two week low of $14.13 and a fifty-two week high of $23.74.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. acquired a new stake in Astronics during the 2nd quarter worth approximately $25,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Astronics in the third quarter valued at about $106,000. DekaBank Deutsche Girozentrale increased its position in Astronics by 13.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 8,146 shares of the aerospace company’s stock worth $163,000 after acquiring an additional 971 shares during the period. EP Wealth Advisors LLC bought a new stake in Astronics in the 3rd quarter valued at about $202,000. Finally, Stifel Financial Corp bought a new position in shares of Astronics during the third quarter worth approximately $212,000. Institutional investors and hedge funds own 56.68% of the company’s stock.

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.