Truist Financial Cuts Astronics (NASDAQ:ATRO) Price Target to $20.00

Astronics (NASDAQ:ATRO - Free Report) had its price target cut by Truist Financial from $22.00 to $20.00 in a report issued on Friday, Marketbeat.com reports. They currently have a hold rating on the aerospace company's stock.

Astronics Stock Performance

Shares of NASDAQ:ATRO traded down $2.03 during trading on Friday, hitting $19.01. 215,392 shares of the stock traded hands, compared to its average volume of 143,937. The company has a quick ratio of 1.50, a current ratio of 2.92 and a debt-to-equity ratio of 0.67. The company has a fifty day moving average price of $19.97 and a two-hundred day moving average price of $19.58. Astronics has a 52-week low of $14.11 and a 52-week high of $23.74. The company has a market cap of $662.35 million, a price-to-earnings ratio of -24.86 and a beta of 1.82.

Astronics (NASDAQ:ATRO - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The aerospace company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.13). Astronics had a negative return on equity of 0.31% and a negative net margin of 1.57%. The firm had revenue of $198.11 million during the quarter, compared to analyst estimates of $191.19 million. During the same quarter last year, the company posted ($0.37) EPS. As a group, equities analysts predict that Astronics will post 0.36 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. American International Group Inc. raised its position in Astronics by 4.5% during the first quarter. American International Group Inc. now owns 13,662 shares of the aerospace company's stock worth $260,000 after acquiring an additional 589 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Astronics by 10.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,195 shares of the aerospace company's stock valued at $224,000 after buying an additional 1,094 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Astronics in the 2nd quarter valued at about $25,000. nVerses Capital LLC acquired a new stake in Astronics in the 2nd quarter worth about $28,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Astronics during the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 56.68% of the company's stock.

About Astronics

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.