Astronics (NASDAQ:ATRO) Lowered to Hold Rating by StockNews.com

StockNews.com downgraded shares of Astronics (NASDAQ:ATRO) from a buy rating to a hold rating in a report published on Wednesday.

Separately, Truist Financial cut their price objective on Astronics from $20.00 to $17.00 and set a “hold” rating for the company in a report on Tuesday.

Astronics Stock Up 5.2 %

Astronics stock opened at $16.91 on Wednesday. The firm’s 50 day moving average price is $16.34 and its two-hundred day moving average price is $18.76. The firm has a market cap of $596.28 million, a PE ratio of -89.00 and a beta of 1.79. Astronics has a twelve month low of $14.13 and a twelve month high of $23.74. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.46 and a current ratio of 2.83.

Hedge Funds Weigh In On Astronics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATRO. State Street Corp grew its position in Astronics by 6.7% in the third quarter. State Street Corp now owns 924,070 shares of the aerospace company’s stock worth $18,001,000 after acquiring an additional 58,356 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Astronics by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 888,942 shares of the aerospace company’s stock worth $17,806,000 after purchasing an additional 40,438 shares in the last quarter. Geode Capital Management LLC increased its position in Astronics by 2.0% during the third quarter. Geode Capital Management LLC now owns 691,522 shares of the aerospace company’s stock worth $13,474,000 after buying an additional 13,469 shares during the last quarter. First Eagle Investment Management LLC increased its position in Astronics by 8.5% during the second quarter. First Eagle Investment Management LLC now owns 391,426 shares of the aerospace company’s stock worth $7,840,000 after buying an additional 30,550 shares during the last quarter. Finally, Needham Investment Management LLC raised its holdings in Astronics by 9.2% during the third quarter. Needham Investment Management LLC now owns 267,500 shares of the aerospace company’s stock valued at $5,211,000 after buying an additional 22,500 shares in the last quarter. Institutional investors own 56.68% of the company’s stock.

Astronics Company Profile

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.