Astronics (NASDAQ:ATRO) Stock Rating Lowered by Zacks Investment Research

Astronics (NASDAQ:ATRO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Friday, May 11th.

According to Zacks, “Astronics Corporation is a manufacturer of specialized lighting and electronics for the cockpit, cabin and exteriors of military, commercial transport and private business jet aircraft. A major lighting and electronics supplier to the aircraft industry, its strategy is to expand from a components and subsystems supplier to an aircraft lighting systems integrator, increasing the value and content it provides to various aircraft platforms. Luminescent Systems Inc. is Astronics’ primary operating subsidiary which produces its aerospace and defense products. “

A number of other brokerages also recently issued reports on ATRO. SunTrust Banks reissued a “hold” rating and set a $48.00 price target on shares of Astronics in a research report on Friday, January 19th. BidaskClub downgraded Astronics from a “buy” rating to a “hold” rating in a report on Tuesday, February 27th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $50.00 target price (up previously from $48.00) on shares of Astronics in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $42.75.

ATRO opened at $36.00 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.55 and a current ratio of 2.86. The stock has a market cap of $1.01 billion, a P/E ratio of 28.80, a P/E/G ratio of 2.24 and a beta of 1.59. Astronics has a 52-week low of $23.95 and a 52-week high of $49.45.

Astronics (NASDAQ:ATRO) last announced its earnings results on Monday, February 26th. The aerospace company reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.03). The firm had revenue of $171.32 million for the quarter, compared to the consensus estimate of $179.33 million. Astronics had a return on equity of 8.43% and a net margin of 1.75%. equities research analysts predict that Astronics will post 1.6 EPS for the current year.

In related news, CEO Peter J. Gundermann sold 2,000 shares of the firm’s stock in a transaction on Friday, March 23rd. The stock was sold at an average price of $36.10, for a total transaction of $72,200.00. Following the completion of the transaction, the chief executive officer now directly owns 17,595 shares of the company’s stock, valued at approximately $635,179.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 18,000 shares of company stock valued at $681,720. 16.57% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Astronics by 4.7% in the 1st quarter. BlackRock Inc. now owns 2,463,572 shares of the aerospace company’s stock worth $91,891,000 after acquiring an additional 111,431 shares in the last quarter. Royal Bank of Canada raised its position in shares of Astronics by 1.7% in the 1st quarter. Royal Bank of Canada now owns 1,223,053 shares of the aerospace company’s stock worth $45,620,000 after acquiring an additional 20,800 shares in the last quarter. ACK Asset Management LLC grew its stake in shares of Astronics by 18.1% in the 4th quarter. ACK Asset Management LLC now owns 926,700 shares of the aerospace company’s stock valued at $38,430,000 after buying an additional 142,000 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Astronics by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 804,046 shares of the aerospace company’s stock valued at $29,991,000 after buying an additional 4,151 shares during the period. Finally, Paradice Investment Management LLC grew its stake in shares of Astronics by 3.2% in the 1st quarter. Paradice Investment Management LLC now owns 591,992 shares of the aerospace company’s stock valued at $22,058,000 after buying an additional 18,627 shares during the period. 69.19% of the stock is owned by hedge funds and other 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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