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

Astronics (NASDAQ:ATRO) had its price target cut by Truist Financial from $22.00 to $20.00 in a research report released on Friday, MarketBeat.com reports. They currently have a hold rating on the aerospace company’s stock.

Astronics Stock Performance

Shares of Astronics stock opened at $19.01 on Friday. The stock has a market capitalization of $662.35 million, a price-to-earnings ratio of -24.69 and a beta of 1.82. The firm’s fifty day simple moving average is $19.97 and its 200-day simple moving average is $19.61. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.92 and a quick ratio of 1.50. Astronics has a 12 month low of $14.11 and a 12 month high of $23.74.

Astronics (NASDAQ:ATRO) last announced its earnings results on Thursday, August 1st. The aerospace company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.13). Astronics had a negative net margin of 1.57% and a negative return on equity of 0.31%. The business had revenue of $198.11 million during the quarter, compared to analysts’ expectations of $191.19 million. During the same period in the previous year, the company posted ($0.37) earnings per share. As a group, equities analysts forecast that Astronics will post 0.36 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Cubist Systematic Strategies LLC acquired a new stake in shares of Astronics during the second quarter worth $857,000. Advisors Asset Management Inc. raised its position in Astronics by 103.1% during the 1st quarter. Advisors Asset Management Inc. now owns 47,322 shares of the aerospace company’s stock worth $901,000 after buying an additional 24,027 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in shares of Astronics by 8.5% in the 2nd quarter. First Eagle Investment Management LLC now owns 391,426 shares of the aerospace company’s stock worth $7,840,000 after acquiring an additional 30,550 shares during the period. GSA Capital Partners LLP boosted its holdings in shares of Astronics by 84.5% in the first quarter. GSA Capital Partners LLP now owns 33,248 shares of the aerospace company’s stock valued at $633,000 after acquiring an additional 15,228 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Astronics by 4.8% during the second quarter. Dimensional Fund Advisors LP now owns 888,942 shares of the aerospace company’s stock worth $17,806,000 after acquiring an additional 40,438 shares during the period. 56.68% of the stock is currently owned by hedge funds and other institutional investors.

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.