Astronics (NASDAQ:ATRO) Raised to Buy at StockNews.com

Astronics (NASDAQ:ATRO) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Separately, Truist Financial dropped their price objective on shares of Astronics from $20.00 to $17.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th.

Astronics Stock Performance

Shares of Astronics stock opened at $17.09 on Tuesday. Astronics has a 12 month low of $14.13 and a 12 month high of $23.74. The firm has a market capitalization of $602.59 million, a P/E ratio of -89.94 and a beta of 1.79. The company has a current ratio of 2.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.72. The business has a fifty day simple moving average of $16.37 and a two-hundred day simple moving average of $18.53.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ATRO. Point72 Asset Management L.P. bought a new position in shares of Astronics during the second quarter valued at $25,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Astronics during the 3rd quarter valued at about $106,000. DekaBank Deutsche Girozentrale increased its stake in Astronics by 13.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 8,146 shares of the aerospace company’s stock valued at $163,000 after purchasing an additional 971 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in Astronics in the third quarter worth about $202,000. Finally, Stifel Financial Corp bought a new position in shares of Astronics in the third quarter worth approximately $212,000. 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.