Astronics Co. (NASDAQ:ATRO) has been given a consensus rating of “Hold” by the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $44.67.
ATRO has been the subject of a number of analyst reports. SunTrust Banks reduced their price objective on shares of Astronics to $39.00 and set an “average” rating for the company in a report on Tuesday, February 27th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Astronics from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Tuesday, January 2nd. BidaskClub cut shares of Astronics from a “strong-buy” rating to a “buy” rating in a report on Friday, December 29th. Finally, Canaccord Genuity restated a “buy” rating and set a $50.00 price target (up from $48.00) on shares of Astronics in a report on Tuesday, February 27th.
NASDAQ ATRO traded up $0.48 during mid-day trading on Friday, reaching $36.83. 55,832 shares of the stock were exchanged, compared to its average volume of 144,914. Astronics has a one year low of $23.95 and a one year high of $49.45. The company has a market capitalization of $1,015.39, a PE ratio of 29.08, a P/E/G ratio of 2.07 and a beta of 1.56. The company has a quick ratio of 1.60, a current ratio of 3.06 and a debt-to-equity ratio of 0.82.
Astronics declared that its board has authorized a share buyback plan on Monday, December 18th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the aerospace company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In other news, CEO Peter J. Gundermann sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $38.99, for a total value of $77,980.00. Following the sale, the chief executive officer now owns 29,595 shares of the company’s stock, valued at $1,153,909.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last three months, insiders sold 20,000 shares of company stock worth $791,500. Insiders own 16.45% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its holdings in shares of Astronics by 34.3% in the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 68,663 shares of the aerospace company’s stock worth $2,847,000 after buying an additional 17,539 shares during the last quarter. MetLife Investment Advisors LLC bought a new position in shares of Astronics in the 4th quarter worth $431,000. Millennium Management LLC bought a new position in shares of Astronics in the 4th quarter worth $1,687,000. NWQ Investment Management Company LLC bought a new position in shares of Astronics in the 4th quarter worth $14,580,000. Finally, Paloma Partners Management Co bought a new position in shares of Astronics in the 4th quarter worth $660,000. 68.94% of the stock is currently owned by institutional investors and hedge funds.
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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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