$175.62 Million in Sales Expected for Astronics Co. (NASDAQ:ATRO) This Quarter

Analysts expect that Astronics Co. (NASDAQ:ATRO) will post $175.62 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Astronics’ earnings, with the highest sales estimate coming in at $178.00 million and the lowest estimate coming in at $173.23 million. Astronics posted sales of $212.67 million during the same quarter last year, which would indicate a negative year over year growth rate of 17.4%. The business is scheduled to report its next quarterly earnings report on Monday, November 4th.

According to Zacks, analysts expect that Astronics will report full year sales of $745.31 million for the current year, with estimates ranging from $736.61 million to $754.00 million. For the next financial year, analysts forecast that the business will report sales of $773.76 million, with estimates ranging from $756.01 million to $791.50 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Astronics.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings results on Monday, August 5th. The aerospace company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.16). Astronics had a net margin of 14.07% and a return on equity of 12.24%. The business had revenue of $189.10 million during the quarter, compared to analysts’ expectations of $188.80 million. During the same period in the prior year, the company posted $0.49 EPS. The company’s revenue for the quarter was down 9.3% on a year-over-year basis.

A number of equities analysts recently issued reports on the company. Dougherty & Co reissued a “buy” rating and issued a $40.00 price objective (down from $46.00) on shares of Astronics in a report on Tuesday, August 6th. BidaskClub lowered Astronics from a “hold” rating to a “sell” rating in a research note on Friday, September 27th. Zacks Investment Research upgraded Astronics from a “strong sell” rating to a “hold” rating in a report on Tuesday. SunTrust Banks cut their price objective on Astronics to $26.00 and set a “sell” rating for the company in a report on Tuesday, August 6th. Finally, TheStreet lowered Astronics from a “b-” rating to a “c+” rating in a report on Monday, August 26th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Astronics presently has an average rating of “Hold” and an average price target of $38.20.

Shares of Astronics stock traded up $0.76 on Friday, reaching $29.70. 8,422 shares of the company were exchanged, compared to its average volume of 304,256. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.77 and a current ratio of 2.97. The company’s 50-day moving average is $28.95 and its two-hundred day moving average is $34.54. The firm has a market cap of $962.13 million, a price-to-earnings ratio of 21.21, a P/E/G ratio of 1.99 and a beta of 1.42. Astronics has a 1-year low of $25.85 and a 1-year high of $44.34.

In related news, VP Mark Peabody sold 2,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $35.78, for a total value of $71,560.00. Following the completion of the transaction, the vice president now directly owns 9,761 shares of the company’s stock, valued at approximately $349,248.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO David C. Burney sold 4,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $26.20, for a total transaction of $104,800.00. Following the completion of the transaction, the chief financial officer now directly owns 33,434 shares of the company’s stock, valued at $875,970.80. The disclosure for this sale can be found here. Insiders sold a total of 8,000 shares of company stock valued at $252,540 in the last 90 days. 15.80% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Nuveen Asset Management LLC acquired a new position in Astronics in the 2nd quarter valued at about $14,758,000. UBS Group AG boosted its position in shares of Astronics by 6,912.6% during the 2nd quarter. UBS Group AG now owns 315,637 shares of the aerospace company’s stock worth $12,695,000 after acquiring an additional 311,136 shares in the last quarter. Morgan Stanley boosted its position in shares of Astronics by 2,382.3% during the 2nd quarter. Morgan Stanley now owns 267,739 shares of the aerospace company’s stock worth $10,768,000 after acquiring an additional 256,953 shares in the last quarter. Prudential Financial Inc. bought a new position in Astronics in the 2nd quarter valued at approximately $9,726,000. Finally, Vanguard Group Inc. lifted its stake in Astronics by 11.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,764,627 shares of the aerospace company’s stock valued at $70,973,000 after purchasing an additional 181,711 shares during the last quarter. 66.05% of the stock is currently owned by institutional investors.

Astronics Company Profile

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, electronics, and semiconductor industries worldwide. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems; electrical power generation, distribution, and motions systems; aircraft structures; avionics products; system certification; and connectivity and other products.

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