Astronics (NASDAQ:ATRO) Rating Lowered to Hold at 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 on Wednesday.

Separately, Truist Financial reduced their target price on Astronics from $20.00 to $17.00 and set a “hold” rating on the stock in a research report on Tuesday, January 14th.

Astronics Stock Up 0.6 %

ATRO stock opened at $19.94 on Wednesday. Astronics has a one year low of $14.13 and a one year high of $23.74. The stock has a market capitalization of $703.12 million, a P/E ratio of -104.94 and a beta of 1.79. The company has a 50 day moving average price of $17.34 and a two-hundred day moving average price of $18.20. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.46 and a current ratio of 2.83.

Institutional Trading of Astronics

Several institutional investors have recently made changes to their positions in the stock. Millennium Management LLC boosted its holdings in Astronics by 881.6% in the fourth quarter. Millennium Management LLC now owns 414,823 shares of the aerospace company’s stock valued at $6,621,000 after acquiring an additional 372,565 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its stake in shares of Astronics by 58.7% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 881,504 shares of the aerospace company’s stock valued at $14,069,000 after purchasing an additional 325,904 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Astronics by 493.7% during the 4th quarter. Ameriprise Financial Inc. now owns 363,286 shares of the aerospace company’s stock worth $5,798,000 after purchasing an additional 302,092 shares during the period. Royce & Associates LP increased its position in Astronics by 18.7% during the 4th quarter. Royce & Associates LP now owns 1,150,355 shares of the aerospace company’s stock worth $18,360,000 after purchasing an additional 181,619 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Astronics by 139.3% in the fourth quarter. Renaissance Technologies LLC now owns 286,700 shares of the aerospace company’s stock valued at $4,576,000 after buying an additional 166,900 shares during the period. 56.68% of the stock is owned by hedge funds and other institutional investors.

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.