Astronics (NASDAQ:ATRO) Upgraded by StockNews.com to "Buy" Rating

StockNews.com upgraded shares of Astronics (NASDAQ:ATRO - Free Report) from a hold rating to a buy rating in a research note published on Wednesday morning.

Separately, Truist Financial decreased their target price on shares of Astronics from $20.00 to $17.00 and set a "hold" rating for the company in a research report on Tuesday, January 14th.

Astronics Stock Up 1.4 %

NASDAQ ATRO traded up $0.26 during mid-day trading on Wednesday, hitting $19.12. The company's stock had a trading volume of 356,544 shares, compared to its average volume of 251,225. The firm has a market capitalization of $674.21 million, a price-to-earnings ratio of -100.63 and a beta of 1.79. The company's 50 day simple moving average is $16.63 and its 200 day simple moving average is $18.32. The company has a current ratio of 2.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.72. Astronics has a twelve month low of $14.13 and a twelve month high of $23.74.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC lifted its stake in Astronics by 11.1% during the 2nd quarter. AQR Capital Management LLC now owns 37,793 shares of the aerospace company's stock valued at $757,000 after acquiring an additional 3,786 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Astronics by 10.8% during the second quarter. The Manufacturers Life Insurance Company now owns 11,195 shares of the aerospace company's stock valued at $224,000 after purchasing an additional 1,094 shares in the last quarter. Algert Global LLC purchased a new position in Astronics during the second quarter worth about $240,000. SG Americas Securities LLC grew its position in Astronics by 115.4% in the 3rd quarter. SG Americas Securities LLC now owns 11,387 shares of the aerospace company's stock worth $222,000 after purchasing an additional 6,101 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in Astronics in the 3rd quarter worth about $964,000. 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.