Astronics (NASDAQ:ATRO) Stock Rating Upgraded by StockNews.com

Astronics (NASDAQ:ATRO) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Separately, Truist Financial lowered their price target on Astronics from $20.00 to $17.00 and set a “hold” rating for the company in a report on Tuesday, January 14th.

Astronics Trading Up 0.9 %

Shares of ATRO stock traded up $0.16 during mid-day trading on Wednesday, hitting $18.59. 181,313 shares of the company’s stock were exchanged, compared to its average volume of 249,509. The stock has a market cap of $655.52 million, a price-to-earnings ratio of -97.84 and a beta of 1.79. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72. Astronics has a fifty-two week low of $14.13 and a fifty-two week high of $23.74. The stock has a 50-day simple moving average of $16.51 and a two-hundred day simple moving average of $18.41.

Institutional Investors Weigh In On Astronics

A number of institutional investors have recently added to or reduced their stakes in the company. Skylands Capital LLC acquired a new position in shares of Astronics in the 4th quarter valued at about $1,622,000. State Street Corp lifted its position in Astronics by 6.7% during 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 in the last quarter. Assenagon Asset Management S.A. acquired a new position in Astronics during the third quarter valued at approximately $964,000. JPMorgan Chase & Co. grew its stake in Astronics by 108.3% during the third quarter. JPMorgan Chase & Co. now owns 92,954 shares of the aerospace company’s stock worth $1,811,000 after buying an additional 48,328 shares during the period. Finally, Algert Global LLC increased its position in shares of Astronics by 367.2% in the third quarter. Algert Global LLC now owns 56,072 shares of the aerospace company’s stock worth $1,092,000 after acquiring an additional 44,070 shares in the last quarter. Hedge funds and other institutional investors own 56.68% of the company’s stock.

About Astronics

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.