Astronics (NASDAQ:ATRO) Downgraded by Dougherty & Co

Astronics (NASDAQ:ATRO) was downgraded by equities researchers at Dougherty & Co from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday, The Fly reports.

Several other research firms have also weighed in on ATRO. ValuEngine raised Astronics from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Zacks Investment Research raised Astronics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 8th. Finally, BidaskClub lowered Astronics from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 17th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $37.75.

Shares of ATRO stock opened at $28.21 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.71 and a current ratio of 2.96. Astronics has a 52 week low of $25.85 and a 52 week high of $44.34. The stock has a market capitalization of $892.20 million, a PE ratio of 9.53, a PEG ratio of 2.13 and a beta of 1.41. The stock’s fifty day moving average is $28.67 and its 200-day moving average is $30.50.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATRO. Wells Fargo & Company MN raised its position in shares of Astronics by 37.7% during the second quarter. Wells Fargo & Company MN now owns 50,959 shares of the aerospace company’s stock worth $2,050,000 after purchasing an additional 13,962 shares during the period. JPMorgan Chase & Co. raised its position in shares of Astronics by 27.8% during the second quarter. JPMorgan Chase & Co. now owns 6,661 shares of the aerospace company’s stock worth $276,000 after purchasing an additional 1,447 shares during the period. Bank of Montreal Can raised its position in shares of Astronics by 67.3% during the second quarter. Bank of Montreal Can now owns 2,622 shares of the aerospace company’s stock worth $105,000 after purchasing an additional 1,055 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Astronics by 13.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 151,845 shares of the aerospace company’s stock worth $6,108,000 after purchasing an additional 17,499 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Astronics by 1,500.0% during the second quarter. Renaissance Technologies LLC now owns 110,400 shares of the aerospace company’s stock worth $4,440,000 after purchasing an additional 103,500 shares during the period. 68.26% of the stock is currently owned by institutional investors.

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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