Astronics (NASDAQ:ATRO) Raised to Buy at StockNews.com

Astronics (NASDAQ:ATRO) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Separately, Truist Financial lowered their target price on Astronics from $20.00 to $17.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th.

Astronics Stock Up 0.9 %

ATRO traded up $0.16 during trading hours on Wednesday, reaching $18.59. 181,313 shares of the stock traded hands, compared to its average volume of 249,509. Astronics has a fifty-two week low of $14.13 and a fifty-two week high of $23.74. The company has a market cap of $655.52 million, a price-to-earnings ratio of -97.84 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 firm’s fifty day simple moving average is $16.51 and its two-hundred day simple moving average is $18.41.

Institutional Trading of Astronics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Skylands Capital LLC bought a new position in Astronics during the 4th quarter valued at $1,622,000. State Street Corp raised its stake in shares of Astronics by 6.7% in the 3rd quarter. State Street Corp now owns 924,070 shares of the aerospace company’s stock valued at $18,001,000 after purchasing an additional 58,356 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Astronics during the third quarter worth about $964,000. JPMorgan Chase & Co. grew its stake in Astronics by 108.3% in the third quarter. JPMorgan Chase & Co. now owns 92,954 shares of the aerospace company’s stock worth $1,811,000 after purchasing an additional 48,328 shares in the last quarter. Finally, Algert Global LLC increased its holdings in Astronics by 367.2% in the third quarter. Algert Global LLC now owns 56,072 shares of the aerospace company’s stock valued at $1,092,000 after buying an additional 44,070 shares during the last quarter. 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.