SunTrust Banks Reiterates Hold Rating for Astronics (ATRO)

Astronics (NASDAQ:ATRO)‘s stock had its “hold” rating reissued by analysts at SunTrust Banks in a research note issued on Friday. They currently have a $48.00 target price on the aerospace company’s stock. SunTrust Banks’ price target indicates a potential upside of 3.85% from the stock’s previous close.

Several other research firms have also recently issued reports on ATRO. Zacks Investment Research raised Astronics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Canaccord Genuity reissued a “buy” rating and issued a $46.00 target price on shares of Astronics in a research report on Tuesday, December 12th. BidaskClub cut Astronics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 12th. Finally, Dougherty & Co upped their target price on Astronics from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, December 4th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $46.25.

Astronics (NASDAQ ATRO) traded up $2.11 during trading hours on Friday, hitting $46.22. The stock had a trading volume of 137,006 shares, compared to its average volume of 156,346. The firm has a market cap of $1,272.36, a PE ratio of 39.17, a P/E/G ratio of 2.21 and a beta of 1.10. Astronics has a twelve month low of $23.95 and a twelve month high of $49.45. The company has a current ratio of 3.07, a quick ratio of 1.57 and a debt-to-equity ratio of 0.52.

Astronics (NASDAQ:ATRO) last released its quarterly earnings data on Tuesday, November 7th. The aerospace company reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.14). The business had revenue of $149.64 million for the quarter, compared to analyst estimates of $154.90 million. Astronics had a return on equity of 10.29% and a net margin of 5.80%. The company’s revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 earnings per share. research analysts forecast that Astronics will post 1.29 EPS for the current fiscal year.

Astronics announced that its Board of Directors has initiated a share repurchase plan on Monday, December 18th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

In related news, Director Robert J. Mckenna sold 45,000 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $39.00, for a total value of $1,755,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 16.45% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of ATRO. FMR LLC raised its stake in Astronics by 46.5% during the 2nd quarter. FMR LLC now owns 2,028,637 shares of the aerospace company’s stock valued at $61,813,000 after acquiring an additional 643,968 shares during the last quarter. Paradice Investment Management LLC purchased a new stake in Astronics during the 3rd quarter valued at approximately $14,771,000. International Value Advisers LLC purchased a new stake in Astronics during the 3rd quarter valued at approximately $12,133,000. Sei Investments Co. raised its stake in Astronics by 7,291,550.0% during the 3rd quarter. Sei Investments Co. now owns 145,833 shares of the aerospace company’s stock valued at $8,953,000 after acquiring an additional 145,831 shares during the last quarter. Finally, State Street Corp raised its stake in Astronics by 24.7% during the 2nd quarter. State Street Corp now owns 641,261 shares of the aerospace company’s stock valued at $19,543,000 after acquiring an additional 127,165 shares during the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

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Astronics Company Profile

Astronics Corporation is a supplier of products to the aerospace, defense, electronics and semiconductor industries. The Company’s products and services include electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems.

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