Astronics (NASDAQ:ATRO) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Astronics (NASDAQ:ATRO) from a buy rating to a hold rating in a research report released on Wednesday.

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

Astronics Stock Performance

Astronics stock opened at $16.91 on Wednesday. The company has a market cap of $596.25 million, a PE ratio of -89.00 and a beta of 1.79. The company has a fifty day moving average price of $16.29 and a two-hundred day moving average price of $18.73. 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 has a 12 month low of $14.13 and a 12 month high of $23.74.

Hedge Funds Weigh In On Astronics

Several hedge funds and other institutional investors have recently modified their holdings of the company. DekaBank Deutsche Girozentrale boosted its holdings in shares of Astronics by 13.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 8,146 shares of the aerospace company’s stock valued at $163,000 after acquiring an additional 971 shares during the period. RiverPark Advisors LLC raised its stake in shares of Astronics by 3.5% during the third quarter. RiverPark Advisors LLC now owns 30,394 shares of the aerospace company’s stock valued at $592,000 after purchasing an additional 1,015 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of 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 in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Astronics during the second quarter valued at about $25,000. Finally, Franklin Resources Inc. raised its stake in shares of Astronics by 6.7% during the third quarter. Franklin Resources Inc. now owns 20,189 shares of the aerospace company’s stock valued at $411,000 after purchasing an additional 1,274 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.