ValuEngine Lowers Astronics (ATRO) to Sell

ValuEngine cut shares of Astronics (NASDAQ:ATRO) from a hold rating to a sell rating in a research report sent to investors on Thursday.

ATRO has been the topic of several other reports. Zacks Investment Research upgraded shares of Astronics from a hold rating to a buy rating and set a $47.00 price target on the stock in a research report on Wednesday, October 3rd. Canaccord Genuity reiterated a hold rating and issued a $41.00 price target on shares of Astronics in a research report on Friday, August 3rd. TheStreet upgraded shares of Astronics from a c+ rating to a b- rating in a research report on Tuesday, October 9th. Finally, BidaskClub lowered shares of Astronics from a buy rating to a hold rating in a research report on Thursday, July 26th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $42.25.

Shares of ATRO stock traded up $0.56 during trading hours on Thursday, hitting $29.90. The company’s stock had a trading volume of 227,739 shares, compared to its average volume of 145,651. The firm has a market capitalization of $840.19 million, a PE ratio of 23.92, a P/E/G ratio of 2.05 and a beta of 1.96. Astronics has a twelve month low of $28.89 and a twelve month high of $49.45. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.05 and a quick ratio of 1.68.

In other news, insider James S. Kramer sold 11,800 shares of the stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $46.02, for a total value of $543,036.00. Following the sale, the insider now directly owns 42,003 shares in the company, valued at $1,932,978.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.57% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can acquired a new stake in Astronics during the second quarter worth approximately $105,000. DDD Partners LLC acquired a new stake in Astronics during the second quarter worth approximately $324,000. Mesirow Financial Investment Management Inc. boosted its position in Astronics by 21.0% during the second quarter. Mesirow Financial Investment Management Inc. now owns 9,783 shares of the aerospace company’s stock worth $352,000 after acquiring an additional 1,699 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in Astronics during the third quarter worth approximately $355,000. Finally, Aperio Group LLC boosted its position in Astronics by 33.4% during the second quarter. Aperio Group LLC now owns 11,026 shares of the aerospace company’s stock worth $397,000 after acquiring an additional 2,763 shares during the last quarter. Hedge funds and other institutional investors own 71.13% of the company’s stock.

About Astronics

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, electronics, and semiconductor industries worldwide. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems; electrical power generation, distribution, and motions systems; aircraft structures; avionics products; system certification; and connectivity and other products.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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