Truist Financial Forecasts Strong Price Appreciation for Astronics (NASDAQ:ATRO) Stock

Astronics (NASDAQ:ATRO) had its price objective hoisted by equities researchers at Truist Financial from $17.00 to $23.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the aerospace company’s stock. Truist Financial’s price objective points to a potential downside of 6.12% from the company’s previous close.

Separately, StockNews.com downgraded shares of Astronics from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th.

Astronics Stock Down 1.6 %

Shares of Astronics stock opened at $24.50 on Wednesday. The stock’s 50-day moving average is $17.84 and its 200 day moving average is $18.27. Astronics has a one year low of $14.13 and a one year high of $25.54. The firm has a market cap of $863.92 million, a price-to-earnings ratio of -128.94 and a beta of 1.79. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio raised its position in shares of Astronics by 167.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 4,156 shares of the aerospace company’s stock worth $66,000 after purchasing an additional 2,600 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Astronics by 75.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,687 shares of the aerospace company’s stock valued at $937,000 after purchasing an additional 25,146 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Astronics during the 4th quarter valued at $1,022,000. Two Sigma Advisers LP raised its holdings in Astronics by 85.8% during the fourth quarter. Two Sigma Advisers LP now owns 99,400 shares of the aerospace company’s stock worth $1,586,000 after buying an additional 45,900 shares during the last quarter. Finally, Two Sigma Investments LP lifted its stake in shares of Astronics by 159.1% in the fourth quarter. Two Sigma Investments LP now owns 177,148 shares of the aerospace company’s stock valued at $2,827,000 after buying an additional 108,769 shares in the last quarter. Institutional investors 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.