Astronics (NASDAQ:ATRO) Price Target Cut to $38.00

Astronics (NASDAQ:ATRO) had its price target reduced by Dougherty & Co from $40.00 to $38.00 in a report published on Wednesday, Briefing.com Automated Import reports. They currently have a buy rating on the aerospace company’s stock. Dougherty & Co also issued estimates for Astronics’ FY2020 earnings at $1.50 EPS.

Several other equities research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Astronics from a hold rating to a sell rating in a research report on Wednesday, October 16th. SunTrust Banks cut their price target on shares of Astronics to $26.00 and set a sell rating on the stock in a report on Tuesday, August 6th. BidaskClub cut shares of Astronics from a hold rating to a sell rating in a report on Friday, October 25th. ValuEngine cut shares of Astronics from a hold rating to a sell rating in a report on Tuesday, August 6th. Finally, TheStreet cut shares of Astronics from a b- rating to a c+ rating in a report on Monday, August 26th. Four investment analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $37.75.

Shares of NASDAQ:ATRO traded up $0.16 during mid-day trading on Wednesday, reaching $31.07. 172,400 shares of the company’s stock were exchanged, compared to its average volume of 240,472. 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 business’s fifty day moving average price is $29.81 and its 200-day moving average price is $34.20. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 2.42 and a beta of 1.40. Astronics has a twelve month low of $25.85 and a twelve month high of $44.34.

In related news, CFO David C. Burney sold 4,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $26.20, for a total transaction of $104,800.00. Following the transaction, the chief financial officer now directly owns 33,434 shares in the company, valued at $875,970.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 15.80% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its stake in Astronics by 481.7% in the second quarter. Tower Research Capital LLC TRC now owns 733 shares of the aerospace company’s stock valued at $30,000 after acquiring an additional 607 shares during the last quarter. New York State Teachers Retirement System purchased a new position in Astronics in the second quarter valued at about $76,000. Point72 Hong Kong Ltd purchased a new position in Astronics in the second quarter valued at about $88,000. Bank of Montreal Can boosted its stake in Astronics by 67.3% in the second quarter. Bank of Montreal Can now owns 2,622 shares of the aerospace company’s stock valued at $105,000 after acquiring an additional 1,055 shares during the last quarter. Finally, First Mercantile Trust Co. purchased a new position in Astronics in the third quarter valued at about $108,000. Hedge funds and other institutional investors own 66.82% of the company’s stock.

About Astronics

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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