BidaskClub Upgrades Astronics (ATRO) to “Strong-Buy”

BidaskClub upgraded shares of Astronics (NASDAQ:ATRO) from a buy rating to a strong-buy rating in a research note released on Friday.

ATRO has been the topic of several other reports. Dougherty & Co boosted their target price on shares of Astronics from $40.00 to $45.00 and gave the company a buy rating in a research note on Monday, December 4th. SunTrust Banks reissued a hold rating and set a $30.00 target price on shares of Astronics in a research note on Thursday, October 12th. Canaccord Genuity reissued a buy rating and set a $36.00 target price on shares of Astronics in a research note on Thursday, October 5th. Finally, Zacks Investment Research raised shares of Astronics from a sell rating to a hold rating in a research note on Friday, November 10th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $40.00.

Astronics (NASDAQ ATRO) opened at $42.77 on Friday. The stock has a market capitalization of $1,230.00, a price-to-earnings ratio of 36.25, a price-to-earnings-growth ratio of 3.34 and a beta of 1.51. Astronics has a twelve month low of $23.95 and a twelve month high of $44.19. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.07 and a quick ratio of 1.57.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings results on Tuesday, November 7th. The aerospace company reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.14). Astronics had a net margin of 5.80% and a return on equity of 10.29%. The company had revenue of $149.64 million during the quarter, compared to the consensus estimate of $154.90 million. During the same period in the prior year, the company posted $0.41 EPS. Astronics’s quarterly revenue was down 3.5% on a year-over-year basis. equities research analysts forecast that Astronics will post 1.29 EPS for the current fiscal year.

Astronics announced that its Board of Directors has initiated a stock repurchase plan on Monday, December 18th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the aerospace company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

In other Astronics news, Director Robert J. Mckenna sold 45,000 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $39.00, for a total transaction of $1,755,000.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 16.45% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Scout Investments Inc. acquired a new position in shares of Astronics in the second quarter worth $1,276,000. Teachers Advisors LLC increased its stake in shares of Astronics by 2.0% in the first quarter. Teachers Advisors LLC now owns 37,532 shares of the aerospace company’s stock worth $1,191,000 after acquiring an additional 732 shares during the last quarter. Swiss National Bank increased its stake in shares of Astronics by 12.8% in the second quarter. Swiss National Bank now owns 36,200 shares of the aerospace company’s stock worth $1,103,000 after acquiring an additional 4,100 shares during the last quarter. Sei Investments Co. increased its stake in shares of Astronics by 7,291,550.0% in the third quarter. Sei Investments Co. now owns 145,833 shares of the aerospace company’s stock worth $8,953,000 after acquiring an additional 145,831 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Astronics by 8.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 87,636 shares of the aerospace company’s stock worth $2,671,000 after acquiring an additional 6,922 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

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About Astronics

Astronics Corporation is a supplier of products to the aerospace, defense, electronics and semiconductor industries. The Company’s products and services include electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems.

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