Astronics (NASDAQ:ATRO) Price Target Cut to $20.00 by Analysts at Truist Financial

Astronics (NASDAQ:ATRO) had its price target trimmed by Truist Financial from $22.00 to $20.00 in a research note issued to investors on Friday, MarketBeat reports. The brokerage currently has a hold rating on the aerospace company’s stock.

Astronics Stock Down 1.0 %

NASDAQ:ATRO opened at $18.82 on Friday. The company has a market capitalization of $655.73 million, a price-to-earnings ratio of -24.44 and a beta of 1.82. The stock has a 50-day simple moving average of $19.97 and a 200 day simple moving average of $19.62. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.50 and a current ratio of 2.92. Astronics has a one year low of $14.11 and a one year high of $23.74.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its position in shares of Astronics by 115.4% during the 3rd quarter. SG Americas Securities LLC now owns 11,387 shares of the aerospace company’s stock valued at $222,000 after purchasing an additional 6,101 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Astronics during the 2nd quarter valued at about $25,000. Algert Global LLC acquired a new position in shares of Astronics in the 2nd quarter worth approximately $240,000. The Manufacturers Life Insurance Company lifted its stake in Astronics by 10.8% during the second quarter. The Manufacturers Life Insurance Company now owns 11,195 shares of the aerospace company’s stock valued at $224,000 after purchasing an additional 1,094 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Astronics by 11.1% during the second quarter. AQR Capital Management LLC now owns 37,793 shares of the aerospace company’s stock worth $757,000 after buying an additional 3,786 shares in the last quarter. 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.