Truist Financial Forecasts Strong Price Appreciation for Astronics (NASDAQ:ATRO) Stock

Astronics (NASDAQ:ATRO) had its price target boosted by research analysts at Truist Financial from $17.00 to $23.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the aerospace company’s stock. Truist Financial’s price target points to a potential downside of 6.11% from the company’s current price.

Separately, StockNews.com cut Astronics from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th.

Astronics Stock Up 22.7 %

Shares of ATRO stock traded up $4.54 during mid-day trading on Wednesday, hitting $24.50. 1,599,606 shares of the stock traded hands, compared to its average volume of 318,310. Astronics has a 52-week low of $14.13 and a 52-week high of $25.06. The stock has a market cap of $863.85 million, a P/E ratio of -128.39 and a beta of 1.79. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46. The stock’s fifty day moving average is $17.67 and its two-hundred day moving average is $18.23.

Astronics (NASDAQ:ATRO) last announced its earnings results on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.27. The company had revenue of $208.54 million during the quarter, compared to the consensus estimate of $194.91 million. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. During the same period last year, the firm earned $0.35 earnings per share. Equities analysts predict that Astronics will post 0.82 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ATRO. Public Employees Retirement System of Ohio grew its holdings in shares of Astronics by 167.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 4,156 shares of the aerospace company’s stock valued at $66,000 after buying an additional 2,600 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Astronics by 75.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,687 shares of the aerospace company’s stock valued at $937,000 after purchasing an additional 25,146 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Astronics in the fourth quarter valued at about $1,022,000. Two Sigma Advisers LP raised its stake in shares of Astronics by 85.8% in the fourth quarter. Two Sigma Advisers LP now owns 99,400 shares of the aerospace company’s stock worth $1,586,000 after purchasing an additional 45,900 shares during the last quarter. Finally, Two Sigma Investments LP lifted its holdings in shares of Astronics by 159.1% during the fourth quarter. Two Sigma Investments LP now owns 177,148 shares of the aerospace company’s stock worth $2,827,000 after purchasing an additional 108,769 shares during the period. Hedge funds and other institutional investors 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.