Astronics (NASDAQ:ATRO) Cut to Hold at StockNews.com

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

Separately, Truist Financial dropped their price objective on Astronics from $20.00 to $17.00 and set a “hold” rating on the stock in a research note on Tuesday.

Astronics Stock Performance

NASDAQ:ATRO opened at $16.91 on Wednesday. The firm has a market capitalization of $596.28 million, a PE ratio of -89.00 and a beta of 1.79. Astronics has a 1 year low of $14.13 and a 1 year high of $23.74. The company has a current ratio of 2.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.72. The firm’s fifty day simple moving average is $16.34 and its 200 day simple moving average is $18.76.

Hedge Funds Weigh In On Astronics

A number of institutional investors and hedge funds have recently bought and sold shares of ATRO. JPMorgan Chase & Co. increased its stake in Astronics by 108.3% in the third quarter. JPMorgan Chase & Co. now owns 92,954 shares of the aerospace company’s stock valued at $1,811,000 after acquiring an additional 48,328 shares during the period. Franklin Resources Inc. raised its stake in shares of Astronics by 6.7% in the third quarter. Franklin Resources Inc. now owns 20,189 shares of the aerospace company’s stock valued at $411,000 after acquiring an additional 1,274 shares during the last quarter. Barclays PLC boosted its holdings in shares of Astronics by 328.2% in the 3rd quarter. Barclays PLC now owns 45,313 shares of the aerospace company’s stock worth $883,000 after acquiring an additional 34,730 shares in the last quarter. Geode Capital Management LLC grew its position in Astronics by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 691,522 shares of the aerospace company’s stock worth $13,474,000 after acquiring an additional 13,469 shares during the last quarter. Finally, XTX Topco Ltd grew its position in Astronics by 224.7% during the 3rd quarter. XTX Topco Ltd now owns 37,024 shares of the aerospace company’s stock worth $721,000 after acquiring an additional 25,621 shares during the last quarter. Institutional investors own 56.68% of the company’s stock.

About Astronics

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.