Astronics (NASDAQ:ATRO) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Astronics (NASDAQ:ATRO) from a buy rating to a hold rating in a research note released on Wednesday.

Separately, Truist Financial reduced their price objective on shares of Astronics from $20.00 to $17.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th.

Astronics Stock Up 0.4 %

Shares of NASDAQ:ATRO opened at $20.01 on Wednesday. Astronics has a one year low of $14.13 and a one year high of $23.74. The company has a 50 day moving average of $17.42 and a 200-day moving average of $18.22. 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 has a market cap of $705.59 million, a price-to-earnings ratio of -105.31 and a beta of 1.79.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. AlphaQuest LLC boosted its stake in Astronics by 355.5% during the 4th quarter. AlphaQuest LLC now owns 3,576 shares of the aerospace company’s stock worth $57,000 after acquiring an additional 2,791 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Astronics by 167.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 4,156 shares of the aerospace company’s stock worth $66,000 after acquiring an additional 2,600 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Astronics during the 4th quarter worth approximately $73,000. Point72 Asset Management L.P. lifted its stake in Astronics by 337.9% in the third quarter. Point72 Asset Management L.P. now owns 5,356 shares of the aerospace company’s stock valued at $104,000 after buying an additional 4,133 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Astronics in the third quarter valued at approximately $106,000. 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.