Astronics Corporation (NASDAQ: ATRO) received a significant boost in its stock ratings following a recent upgrade from Wall Street Zen. The firm elevated its assessment of Astronics from a buy rating to a strong-buy rating in a report distributed to investors on Monday, highlighting growing confidence in the company’s prospects.
In addition to Wall Street Zen’s upgrade, several other analysts have recently provided their insights. On October 8, Weiss Ratings reaffirmed a “sell (d-)” rating on Astronics shares, indicating a cautious outlook. Conversely, Zacks Research raised its rating from “hold” to “strong-buy” in a note released on November 4, illustrating a shift in sentiment among some analysts. Truist Financial also increased its price target for Astronics from $49.00 to $58.00, while maintaining a “buy” rating in a report issued on October 15. Craig Hallum began its coverage of the company on October 10, assigning a “buy” rating with a price objective of $60.00.
Overall, the stock has garnered varying opinions from analysts, with one rating it as a strong buy, four as a buy, and one as a sell. According to MarketBeat.com, Astronics currently holds an average rating of “Moderate Buy” and a consensus target price of $61.00.
Astronics Reports Positive Earnings Results
On November 4, Astronics published its latest earnings results, revealing earnings per share of $0.49 for the quarter. This figure surpassed analysts’ expectations, which had estimated earnings of $0.42, by $0.07. The company reported revenue of $211.45 million, exceeding the anticipated $210.80 million. Notably, Astronics achieved a positive return on equity of 22.89%, although it reported a slight net margin of -0.45%.
The company has provided guidance for the fiscal year 2025, with analysts projecting an average earnings per share of 0.82 for the current year.
Insider Activity and Institutional Investments
In related news, insider James Mulato sold 1,129 shares of Astronics stock on September 5, at an average price of $38.16, totaling approximately $43,082.64. Following this transaction, Mulato’s remaining holdings in the company amounted to 1,066 shares, valued at around $40,678.56, reflecting a 51.44% decrease in his position. This sale was disclosed in a filing with the Securities and Exchange Commission.
Institutional investors have also been active regarding Astronics shares. Brighton Jones LLC increased its stake by 3.1% in the third quarter, now owning 7,085 shares valued at $323,000 after acquiring an additional 216 shares. Covestor Ltd boosted its stake by 25.4%, bringing its total to 1,068 shares valued at $49,000. US Bancorp DE increased its position by 41.0%, now holding 966 shares valued at $44,000.
Furthermore, Ameritas Investment Partners Inc. raised its stake by 13.6% during the second quarter, owning 3,091 shares worth $103,000 after acquiring an additional 369 shares. WINTON GROUP Ltd also lifted its holdings by 4.6%, now owning 8,644 shares valued at $394,000. Collectively, institutional investors own approximately 56.68% of Astronics’ stock.
Astronics Corporation operates internationally, designing and manufacturing products primarily for the aerospace, defense, and electronics sectors. The company is divided into two segments: Aerospace and Test Systems. The Aerospace segment provides a range of offerings, including lighting and safety systems, electrical power generation systems, and avionics products.
As investor interest continues to grow, analysts will likely monitor Astronics closely, particularly in light of its recent performance and the shifting ratings landscape.
