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

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

Separately, Truist Financial decreased their price objective on shares of Astronics from $20.00 to $17.00 and set a “hold” rating on the stock in a research report on Tuesday, January 14th.

Astronics Price Performance

NASDAQ ATRO opened at $19.82 on Wednesday. The company has a current ratio of 2.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.72. Astronics has a 12 month low of $14.13 and a 12 month high of $23.74. The stock has a market cap of $698.89 million, a price-to-earnings ratio of -104.31 and a beta of 1.79. The company’s 50 day moving average is $17.34 and its two-hundred day moving average is $18.20.

Institutional Trading of Astronics

Several institutional investors have recently made changes to their positions in the business. Barclays PLC lifted its holdings in 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 purchasing an additional 34,730 shares in the last quarter. Algert Global LLC raised its position in shares of Astronics by 367.2% during the third quarter. Algert Global LLC now owns 56,072 shares of the aerospace company’s stock valued at $1,092,000 after buying an additional 44,070 shares during the last quarter. Black Swift Group LLC purchased a new position in shares of Astronics in the third quarter worth $756,000. Stifel Financial Corp bought a new position in shares of Astronics during the third quarter worth $212,000. Finally, JPMorgan Chase & Co. grew its stake in Astronics by 108.3% during 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 in the last quarter. Hedge funds and other 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.