Truist Financial Has Lowered Expectations for Astronics (NASDAQ:ATRO) Stock Price

Astronics (NASDAQ:ATRO - Free Report) had its price target trimmed by Truist Financial from $23.00 to $21.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a hold rating on the aerospace company's stock.

Separately, StockNews.com raised shares of Astronics from a "hold" rating to a "buy" rating in a research note on Thursday, March 6th.

Astronics Stock Performance

Shares of Astronics stock traded down $1.03 during trading on Thursday, reaching $21.76. The company's stock had a trading volume of 434,532 shares, compared to its average volume of 284,609. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72. The business's 50-day moving average price is $22.56 and its 200-day moving average price is $19.18. Astronics has a 52 week low of $14.13 and a 52 week high of $26.63. The firm has a market cap of $767.45 million, a PE ratio of -114.52 and a beta of 1.26.

Astronics (NASDAQ:ATRO - Get Free Report) last issued its quarterly earnings results on Tuesday, March 4th. The aerospace company reported $0.48 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.27. The company had revenue of $208.54 million for the quarter, compared to analysts' expectations of $194.91 million. Astronics had a positive return on equity of 6.94% and a negative net margin of 0.82%. During the same quarter last year, the business earned $0.35 earnings per share. Equities analysts forecast that Astronics will post 0.82 earnings per share for the current year.

Insider Activity

In related news, Director Robert S. Keane sold 77,099 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $24.55, for a total value of $1,892,780.45. Following the completion of the transaction, the director now owns 6,346 shares in the company, valued at $155,794.30. This trade represents a 92.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 10.83% of the company's stock.

Hedge Funds Weigh In On Astronics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royce & Associates LP grew its stake in shares of Astronics by 18.7% in the fourth quarter. Royce & Associates LP now owns 1,150,355 shares of the aerospace company's stock worth $18,360,000 after purchasing an additional 181,619 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Astronics by 6.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 998,506 shares of the aerospace company's stock valued at $15,936,000 after buying an additional 58,149 shares during the last quarter. State Street Corp increased its stake in shares of Astronics by 6.7% in the third quarter. State Street Corp now owns 924,070 shares of the aerospace company's stock valued at $18,001,000 after buying an additional 58,356 shares during the period. Schonfeld Strategic Advisors LLC raised its position in shares of Astronics by 58.7% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 881,504 shares of the aerospace company's stock worth $14,069,000 after acquiring an additional 325,904 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Astronics by 2.0% in the third quarter. Geode Capital Management LLC now owns 691,522 shares of the aerospace company's stock worth $13,474,000 after acquiring an additional 13,469 shares during the period. 56.68% of the stock is currently owned by institutional investors and hedge funds.

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.