FY2020 EPS Estimates for Astronics Co. (NASDAQ:ATRO) Lowered by Analyst

Astronics Co. (NASDAQ:ATRO) – Research analysts at Dougherty & Co cut their FY2020 earnings per share (EPS) estimates for Astronics in a report released on Thursday, November 7th. Dougherty & Co analyst R. Ryan now expects that the aerospace company will post earnings of $1.50 per share for the year, down from their prior estimate of $1.65. Dougherty & Co has a “Buy” rating and a $38.00 price objective on the stock.

Other research analysts also recently issued reports about the company. Zacks Investment Research downgraded Astronics from a “hold” rating to a “sell” rating in a research note on Wednesday, October 16th. BidaskClub downgraded Astronics from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. TheStreet downgraded Astronics from a “b-” rating to a “c+” rating in a research note on Monday, August 26th. SunTrust Banks reduced their price objective on Astronics to $26.00 and set a “sell” rating for the company in a research note on Tuesday, August 6th. Finally, ValuEngine downgraded Astronics from a “hold” rating to a “sell” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a sell rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $37.75.

Shares of NASDAQ ATRO opened at $31.07 on Friday. The company has a quick ratio of 1.77, a current ratio of 2.97 and a debt-to-equity ratio of 0.26. The firm has a market cap of $1.03 billion, a P/E ratio of 22.04, a P/E/G ratio of 2.42 and a beta of 1.40. The business’s 50 day moving average price is $29.81 and its 200 day moving average price is $34.20. Astronics has a 52 week low of $25.85 and a 52 week high of $44.34.

Several institutional investors and hedge funds have recently modified their holdings of ATRO. Scout Investments Inc. increased its stake in shares of Astronics by 64.0% in the 2nd quarter. Scout Investments Inc. now owns 218,472 shares of the aerospace company’s stock worth $8,787,000 after acquiring an additional 85,218 shares during the last quarter. Mesirow Financial Investment Management Inc. increased its stake in shares of Astronics by 11.9% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 13,266 shares of the aerospace company’s stock worth $529,000 after acquiring an additional 1,410 shares during the last quarter. New York State Teachers Retirement System acquired a new stake in shares of Astronics in the 2nd quarter worth $76,000. Bessemer Group Inc. acquired a new stake in shares of Astronics in the 2nd quarter worth $402,000. Finally, HGK Asset Management Inc. increased its stake in shares of Astronics by 13.5% in the 2nd quarter. HGK Asset Management Inc. now owns 13,211 shares of the aerospace company’s stock worth $531,000 after acquiring an additional 1,568 shares during the last quarter. 66.82% of the stock is owned by institutional investors and hedge funds.

In related news, CFO David C. Burney sold 4,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $26.20, for a total value of $104,800.00. Following the completion of the transaction, the chief financial officer now directly owns 33,434 shares of the company’s stock, valued at approximately $875,970.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 15.80% of the stock is currently owned by corporate insiders.

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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Earnings History and Estimates for Astronics (NASDAQ:ATRO)

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