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 research note published on Wednesday morning.

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

Astronics Stock Down 0.7 %

NASDAQ ATRO opened at $19.82 on Wednesday. The stock has a 50 day moving average price of $17.34 and a 200-day moving average price of $18.20. Astronics has a one year low of $14.13 and a one year 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. The company has a market capitalization of $698.89 million, a P/E ratio of -104.31 and a beta of 1.79.

Institutional Investors Weigh In On Astronics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ATRO. Assenagon Asset Management S.A. purchased a new position in shares of Astronics in the 3rd quarter worth approximately $964,000. DekaBank Deutsche Girozentrale lifted its position in Astronics by 13.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 8,146 shares of the aerospace company’s stock worth $163,000 after buying an additional 971 shares during the last quarter. Black Swift Group LLC purchased a new position in Astronics during the third quarter worth $756,000. RiverPark Advisors LLC increased its position in Astronics by 3.5% during the third quarter. RiverPark Advisors LLC now owns 30,394 shares of the aerospace company’s stock valued at $592,000 after acquiring an additional 1,015 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of Astronics by 32.2% in the third quarter. Advisors Asset Management Inc. now owns 84,181 shares of the aerospace company’s stock valued at $1,640,000 after acquiring an additional 20,514 shares during the period. 56.68% of the stock is currently owned by hedge funds and other institutional investors.

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.