Astronics (NASDAQ:ATRO) Trading Down 3.1% Following Analyst Downgrade

Astronics Co. (NASDAQ:ATRO) shares traded down 3.1% on Friday after Truist Financial lowered their price target on the stock from $22.00 to $20.00. Truist Financial currently has a hold rating on the stock. Astronics traded as low as $20.38 and last traded at $20.38. 17,618 shares changed hands during trading, a decline of 88% from the average session volume of 142,959 shares. The stock had previously closed at $21.04.

Institutional Trading of Astronics

A number of large investors have recently modified their holdings of ATRO. Fisher Asset Management LLC grew its stake in Astronics by 9.4% during the 4th quarter. Fisher Asset Management LLC now owns 114,126 shares of the aerospace company’s stock worth $1,988,000 after purchasing an additional 9,783 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Astronics during the first quarter worth approximately $239,000. BNP Paribas Financial Markets raised its holdings in Astronics by 35.1% in the first quarter. BNP Paribas Financial Markets now owns 52,587 shares of the aerospace company’s stock valued at $1,001,000 after acquiring an additional 13,656 shares in the last quarter. RiverPark Advisors LLC lifted its stake in Astronics by 360.9% in the first quarter. RiverPark Advisors LLC now owns 26,802 shares of the aerospace company’s stock worth $510,000 after acquiring an additional 20,987 shares during the last quarter. Finally, GSA Capital Partners LLP grew its holdings in Astronics by 84.5% during the 1st quarter. GSA Capital Partners LLP now owns 33,248 shares of the aerospace company’s stock worth $633,000 after acquiring an additional 15,228 shares in the last quarter. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Astronics Stock Performance

The stock’s 50-day simple moving average is $19.97 and its 200 day simple moving average is $19.59. The company has a market capitalization of $662.35 million, a PE ratio of -24.69 and a beta of 1.82. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.50 and a current ratio of 2.92.

Astronics (NASDAQ:ATRO) last posted its earnings results on Thursday, August 1st. The aerospace company reported $0.04 EPS for the quarter, missing the consensus estimate 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 last year, the company earned ($0.37) EPS. As a group, research analysts expect that Astronics Co. will post 0.36 earnings per share for the current fiscal year.

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.