Astronics (NASDAQ:ATRO) Stock Rating Upgraded by Colliers Securities

Colliers Securities upgraded shares of Astronics (NASDAQ:ATRO) from a neutral rating to a buy rating in a report issued on Monday, Price Targets.com reports. They currently have $19.00 target price on the aerospace company’s stock.

Separately, Zacks Investment Research raised Astronics from a sell rating to a hold rating in a research report on Monday, August 9th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Buy and an average target price of $17.25.

Astronics stock opened at $13.66 on Monday. The stock has a market cap of $422.46 million, a P/E ratio of -9.29 and a beta of 2.06. The company has a fifty day simple moving average of $15.02 and a 200-day simple moving average of $16.60. The company has a current ratio of 3.19, a quick ratio of 1.63 and a debt-to-equity ratio of 0.68. Astronics has a 12-month low of $6.30 and a 12-month high of $20.93.

Astronics (NASDAQ:ATRO) last released its quarterly earnings results on Thursday, August 5th. The aerospace company reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.11). Astronics had a negative return on equity of 11.59% and a negative net margin of 10.32%. The firm had revenue of $111.16 million for the quarter, compared to analyst estimates of $115.09 million. As a group, sell-side analysts forecast that Astronics will post -0.83 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. Pinz Capital Management LP acquired a new stake in shares of Astronics during the 2nd quarter valued at $107,000. Metropolitan Life Insurance Co NY boosted its position in Astronics by 104,100.0% during the second quarter. Metropolitan Life Insurance Co NY now owns 7,294 shares of the aerospace company’s stock valued at $128,000 after purchasing an additional 7,287 shares during the last quarter. MetLife Investment Management LLC grew its stake in Astronics by 150.4% in the second quarter. MetLife Investment Management LLC now owns 9,189 shares of the aerospace company’s stock valued at $161,000 after purchasing an additional 5,520 shares in the last quarter. Quadrature Capital Ltd acquired a new position in Astronics in the 1st quarter worth about $192,000. Finally, Trexquant Investment LP purchased a new stake in shares of Astronics during the 1st quarter worth about $195,000. Hedge funds and other institutional investors own 61.08% of the company’s stock.

About Astronics

Astronics Corp. engages in the provision of electrical power generation and distribution systems. It includes motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification, and automated test systems. It operates through the Aerospace and Test Systems segments.

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