Zacks Investment Research upgraded shares of Astronics Corporation (NASDAQ:ATRO) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday morning.

According to Zacks, “Astronics Corporation is a manufacturer of specialized lighting and electronics for the cockpit, cabin and exteriors of military, commercial transport and private business jet aircraft. A major lighting and electronics supplier to the aircraft industry, its strategy is to expand from a components and subsystems supplier to an aircraft lighting systems integrator, increasing the value and content it provides to various aircraft platforms. Luminescent Systems Inc. is Astronics’ primary operating subsidiary which produces its aerospace and defense products. “

Several other analysts have also issued reports on ATRO. SunTrust Banks, Inc. restated a hold rating and set a $30.00 price target on shares of Astronics Corporation in a research report on Thursday, October 12th. Canaccord Genuity restated a buy rating and set a $34.00 price target on shares of Astronics Corporation in a research report on Wednesday, August 16th. Finally, BidaskClub lowered shares of Astronics Corporation from a sell rating to a strong sell rating in a research report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. Astronics Corporation has an average rating of Hold and a consensus target price of $33.33.

Shares of Astronics Corporation (NASDAQ ATRO) traded up 2.50% on Tuesday, reaching $33.98. The company’s stock had a trading volume of 155,204 shares. The firm has a market cap of $975.26 million, a price-to-earnings ratio of 24.66 and a beta of 1.17. The stock has a 50 day moving average of $29.68 and a 200-day moving average of $29.74. Astronics Corporation has a 12 month low of $23.95 and a 12 month high of $41.03.

Astronics Corporation (NASDAQ:ATRO) last posted its quarterly earnings results on Wednesday, August 2nd. The aerospace company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.14). Astronics Corporation had a net margin of 6.73% and a return on equity of 12.12%. The business had revenue of $151.11 million for the quarter, compared to analysts’ expectations of $162.33 million. During the same quarter in the previous year, the company earned $0.50 earnings per share. The business’s quarterly revenue was down 8.1% on a year-over-year basis. On average, analysts anticipate that Astronics Corporation will post $1.41 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Astronics Corporation (ATRO) Stock Rating Upgraded by Zacks Investment Research” was originally posted by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this news story on another website, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this news story can be accessed at https://theolympiareport.com/2017/10/21/astronics-corporation-atro-stock-rating-upgraded-by-zacks-investment-research.html.

Several institutional investors have recently bought and sold shares of the company. Creative Planning boosted its holdings in shares of Astronics Corporation by 0.9% during the second quarter. Creative Planning now owns 10,900 shares of the aerospace company’s stock worth $332,000 after purchasing an additional 100 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in shares of Astronics Corporation by 11.0% during the first quarter. BNP Paribas Arbitrage SA now owns 4,745 shares of the aerospace company’s stock worth $151,000 after purchasing an additional 472 shares during the period. Legal & General Group Plc boosted its holdings in shares of Astronics Corporation by 12.0% during the first quarter. Legal & General Group Plc now owns 5,084 shares of the aerospace company’s stock worth $161,000 after purchasing an additional 543 shares during the period. Teachers Advisors LLC boosted its holdings in shares of Astronics Corporation by 2.0% during the first quarter. Teachers Advisors LLC now owns 37,532 shares of the aerospace company’s stock worth $1,191,000 after purchasing an additional 732 shares during the period. Finally, American International Group Inc. boosted its holdings in shares of Astronics Corporation by 7.1% during the first quarter. American International Group Inc. now owns 11,895 shares of the aerospace company’s stock worth $377,000 after purchasing an additional 790 shares during the period. Institutional investors own 65.59% of the company’s stock.

About Astronics Corporation

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.

Get a free copy of the Zacks research report on Astronics Corporation (ATRO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Astronics Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Astronics Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.