Astronics (NASDAQ:ATRO) had its price target dropped by investment analysts at Canaccord Genuity from $9.00 to $7.00 in a report issued on Monday, Analyst Ratings Network reports. The brokerage currently has a “hold” rating on the aerospace company’s stock. Canaccord Genuity’s target price points to a potential upside of 0.43% from the stock’s current price.
Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research cut Astronics from a “hold” rating to a “sell” rating in a report on Friday, July 17th. BidaskClub upgraded shares of Astronics from a “sell” rating to a “hold” rating in a research report on Saturday, September 19th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $17.00.
Shares of NASDAQ:ATRO opened at $6.97 on Monday. Astronics has a 12-month low of $6.30 and a 12-month high of $33.24. The stock has a market cap of $214.37 million, a PE ratio of -1.66 and a beta of 1.58. The business has a 50 day moving average of $7.79 and a 200-day moving average of $9.09. The company has a quick ratio of 1.51, a current ratio of 2.90 and a debt-to-equity ratio of 0.59.
Astronics (NASDAQ:ATRO) last issued its quarterly earnings data on Wednesday, November 4th. The aerospace company reported ($0.17) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.17). Astronics had a negative return on equity of 2.60% and a negative net margin of 22.15%. Equities research analysts expect that Astronics will post -0.67 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in shares of Astronics by 9.4% in the second quarter. Bank of New York Mellon Corp now owns 109,251 shares of the aerospace company’s stock valued at $1,155,000 after buying an additional 9,419 shares in the last quarter. Wells Fargo & Company MN raised its position in Astronics by 20.4% during the first quarter. Wells Fargo & Company MN now owns 67,933 shares of the aerospace company’s stock valued at $623,000 after purchasing an additional 11,518 shares in the last quarter. Two Sigma Advisers LP raised its position in Astronics by 83.8% during the second quarter. Two Sigma Advisers LP now owns 258,800 shares of the aerospace company’s stock valued at $2,733,000 after purchasing an additional 118,000 shares in the last quarter. Nuveen Asset Management LLC raised its position in Astronics by 6.5% during the second quarter. Nuveen Asset Management LLC now owns 236,141 shares of the aerospace company’s stock valued at $2,493,000 after purchasing an additional 14,516 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Astronics by 34.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 228,830 shares of the aerospace company’s stock valued at $2,417,000 after purchasing an additional 58,846 shares in the last quarter. Institutional investors own 64.52% of the company’s stock.
About Astronics
Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defence, and electronic industries in the United States, North America, Asia, Europe, South America, and internationally. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and motions systems, aircraft structures, avionics products, system certification, and other products.
See Also: Cost of Goods Sold (COGS)
Receive News & Ratings for Astronics Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Astronics and related companies with MarketBeat.com’s FREE daily email newsletter.