SunTrust Banks reaffirmed their hold rating on shares of Astronics (NASDAQ:ATRO) in a research note published on Tuesday. SunTrust Banks currently has a $44.00 price target on the aerospace company’s stock. SunTrust Banks also issued estimates for Astronics’ FY2018 earnings at $2.22 EPS and FY2019 earnings at $2.43 EPS.
A number of other equities research analysts also recently weighed in on ATRO. Canaccord Genuity restated a buy rating and set a $36.00 price target on shares of Astronics in a research report on Thursday, October 5th. Zacks Investment Research upgraded Astronics from a strong sell rating to a hold rating in a research report on Tuesday, October 17th. Dougherty & Co raised their price target on Astronics from $35.00 to $40.00 and gave the company a buy rating in a research report on Wednesday, November 8th. Finally, BidaskClub downgraded Astronics from a strong-buy rating to a buy rating in a research report on Tuesday, December 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of Buy and an average price target of $45.25.
Shares of Astronics (NASDAQ ATRO) traded up $0.75 during mid-day trading on Tuesday, hitting $40.97. The company had a trading volume of 93,100 shares, compared to its average volume of 111,150. The company has a quick ratio of 1.57, a current ratio of 3.07 and a debt-to-equity ratio of 0.52. Astronics has a one year low of $23.95 and a one year high of $44.19. The stock has a market capitalization of $1,360.00, a P/E ratio of 34.72, a PEG ratio of 2.13 and a beta of 1.52.
Astronics announced that its board has authorized a share buyback 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 reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
In other Astronics news, Director Robert J. Mckenna sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $39.00, for a total transaction of $1,755,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 16.45% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc raised its position in Astronics by 10.7% during the second quarter. Legal & General Group Plc now owns 5,630 shares of the aerospace company’s stock valued at $172,000 after purchasing an additional 546 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Astronics by 26.4% in the second quarter. BNP Paribas Arbitrage SA now owns 5,999 shares of the aerospace company’s stock worth $183,000 after buying an additional 1,254 shares during the period. Tudor Investment Corp ET AL increased its holdings in shares of Astronics by 28.5% in the second quarter. Tudor Investment Corp ET AL now owns 9,727 shares of the aerospace company’s stock worth $296,000 after buying an additional 2,158 shares during the period. Marshall Wace North America L.P. purchased a new position in shares of Astronics in the second quarter worth about $294,000. Finally, Voya Investment Management LLC increased its holdings in shares of Astronics by 11.2% in the second quarter. Voya Investment Management LLC now owns 10,719 shares of the aerospace company’s stock worth $327,000 after buying an additional 1,078 shares during the period. Institutional investors and hedge funds own 65.77% of the company’s stock.
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Astronics Company Profile
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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