StockNews.com Begins Coverage on Astronics (NASDAQ:ATRO)

Investment analysts at StockNews.com assumed coverage on shares of Astronics (NASDAQ:ATRO – Get Rating) in a research report issued to clients and investors on Thursday. The brokerage set a “hold” rating on the aerospace company’s stock.

A number of other equities analysts also recently issued reports on the company. Truist Financial increased their target price on Astronics from $7.00 to $8.00 in a research note on Monday, January 9th. TheStreet raised Astronics from a “d” rating to a “c-” rating in a research note on Thursday, March 2nd.

Astronics Stock Performance

Shares of ATRO stock opened at $12.40 on Thursday. The company has a market cap of $396.68 million, a price-to-earnings ratio of -11.17 and a beta of 1.58. The stock has a 50 day simple moving average of $13.70 and a 200-day simple moving average of $10.56. Astronics has a 12-month low of $7.46 and a 12-month high of $15.98. The company has a current ratio of 2.41, a quick ratio of 1.18 and a debt-to-equity ratio of 0.66.

Hedge Funds Weigh In On Astronics

Several hedge funds have recently bought and sold shares of the company. Alliancebernstein L.P. increased its stake in Astronics by 9.3% in the 4th quarter. Alliancebernstein L.P. now owns 12,900 shares of the aerospace company’s stock valued at $133,000 after purchasing an additional 1,100 shares in the last quarter. Jane Street Group LLC purchased a new position in Astronics during the fourth quarter worth $234,000. State of Wisconsin Investment Board increased its position in Astronics by 15.2% during the fourth quarter. State of Wisconsin Investment Board now owns 148,700 shares of the aerospace company’s stock worth $1,532,000 after buying an additional 19,569 shares in the last quarter. Morgan Stanley increased its position in Astronics by 165.1% during the fourth quarter. Morgan Stanley now owns 293,843 shares of the aerospace company’s stock worth $3,027,000 after buying an additional 183,006 shares in the last quarter. Finally, Susquehanna International Group LLP increased its position in Astronics by 89.2% during the fourth quarter. Susquehanna International Group LLP now owns 21,036 shares of the aerospace company’s stock worth $217,000 after buying an additional 9,917 shares in the last quarter. 57.19% of the stock is owned by hedge funds and other institutional investors.

Astronics Company Profile

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Astronics Corp. engages in the provision of electrical power generation and distribution systems. It includes motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification, and automated test systems. It operates through the Aerospace and Test Systems segments.