Brokerages Expect Astronics Co. (NASDAQ:ATRO) Will Announce Quarterly Sales of $175.62 Million

Analysts expect that Astronics Co. (NASDAQ:ATRO) will post $175.62 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Astronics’ earnings, with the highest sales estimate coming in at $178.00 million and the lowest estimate coming in at $173.23 million. Astronics reported sales of $212.67 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 17.4%. The firm is scheduled to announce its next quarterly earnings report on Monday, November 4th.

On average, analysts expect that Astronics will report full-year sales of $745.31 million for the current financial year, with estimates ranging from $736.61 million to $754.00 million. For the next fiscal year, analysts expect that the company will post sales of $773.76 million, with estimates ranging from $756.01 million to $791.50 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Astronics.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Monday, August 5th. The aerospace company reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.16). Astronics had a net margin of 14.07% and a return on equity of 12.24%. The company had revenue of $189.10 million for the quarter, compared to analyst estimates of $188.80 million. During the same quarter last year, the company earned $0.49 EPS. The business’s revenue was down 9.3% compared to the same quarter last year.



Several research firms have recently issued reports on ATRO. Dougherty & Co restated a “buy” rating and set a $40.00 price objective (down previously from $46.00) on shares of Astronics in a report on Tuesday, August 6th. Zacks Investment Research lowered Astronics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. BidaskClub lowered Astronics from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 8th. Seaport Global Securities began coverage on Astronics in a research report on Wednesday, May 1st. They issued a “buy” rating and a $42.00 target price on the stock. Finally, ValuEngine lowered Astronics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Four analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. Astronics has a consensus rating of “Hold” and a consensus target price of $38.20.

In other Astronics news, CFO David C. Burney sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $26.20, for a total value of $104,800.00. Following the sale, the chief financial officer now owns 33,434 shares in the company, valued at approximately $875,970.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Mark Peabody sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $35.78, for a total value of $71,560.00. Following the completion of the sale, the vice president now owns 9,761 shares in the company, valued at approximately $349,248.58. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,000 shares of company stock worth $538,810. Insiders own 15.80% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its position in shares of Astronics by 196.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 872 shares of the aerospace company’s stock valued at $29,000 after buying an additional 578 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Astronics by 481.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 733 shares of the aerospace company’s stock valued at $30,000 after purchasing an additional 607 shares during the last quarter. Optimum Investment Advisors acquired a new position in Astronics in the 1st quarter valued at $33,000. Quantamental Technologies LLC acquired a new position in Astronics in the 1st quarter valued at $50,000. Finally, Bremer Bank National Association acquired a new position in Astronics in the 1st quarter valued at $67,000. Institutional investors and hedge funds own 61.14% of the company’s stock.

Shares of ATRO traded up $0.04 during mid-day trading on Tuesday, hitting $27.82. 10,511 shares of the company traded hands, compared to its average volume of 376,604. Astronics has a 1-year low of $25.85 and a 1-year high of $46.30. The company has a quick ratio of 1.77, a current ratio of 2.97 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $874.03 million, a PE ratio of 19.73, a price-to-earnings-growth ratio of 1.87 and a beta of 1.36. The business has a 50 day moving average of $34.28 and a 200 day moving average of $35.53.

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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