Astronics Co. (NASDAQ:ATRO) Expected to Post Quarterly Sales of $189.38 Million

Equities analysts forecast that Astronics Co. (NASDAQ:ATRO) will report $189.38 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Astronics’ earnings, with the highest sales estimate coming in at $190.76 million and the lowest estimate coming in at $188.00 million. Astronics posted sales of $208.61 million during the same quarter last year, which suggests a negative year-over-year growth rate of 9.2%. The company is scheduled to issue its next earnings results on Friday, August 2nd.

According to Zacks, analysts expect that Astronics will report full-year sales of $782.02 million for the current year, with estimates ranging from $766.83 million to $797.20 million. For the next fiscal year, analysts anticipate that the company will report sales of $813.11 million, with estimates ranging from $787.72 million to $838.50 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Astronics.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings data on Wednesday, May 8th. The aerospace company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.11. The company had revenue of $208.20 million during the quarter, compared to the consensus estimate of $192.10 million. Astronics had a net margin of 14.61% and a return on equity of 15.16%. The company’s quarterly revenue was up 16.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 EPS.

Several brokerages have recently commented on ATRO. SunTrust Banks cut shares of Astronics from a “hold” rating to a “sell” rating and dropped their target price for the company from $41.00 to $36.00 in a research report on Friday, June 14th. BidaskClub cut shares of Astronics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 11th. Zacks Investment Research raised shares of Astronics from a “sell” rating to a “hold” rating and set a $45.00 price objective on the stock in a research note on Thursday, May 9th. ValuEngine raised shares of Astronics from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. Finally, Seaport Global Securities initiated coverage on shares of Astronics in a research note on Wednesday, May 1st. They set a “buy” rating and a $42.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $40.25.

NASDAQ ATRO traded down $0.44 during trading on Friday, reaching $39.15. The company’s stock had a trading volume of 1,582 shares, compared to its average volume of 202,628. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.44 and a quick ratio of 1.50. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 27.71, a price-to-earnings-growth ratio of 2.17 and a beta of 1.35. Astronics has a 12 month low of $27.56 and a 12 month high of $46.56. The company has a 50 day moving average of $41.02.

In other news, VP Mark Peabody sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $38.71, for a total value of $77,420.00. Following the completion of the transaction, the vice president now directly owns 16,761 shares in the company, valued at $648,818.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 9,000 shares of company stock valued at $369,130 in the last quarter. Company insiders own 15.80% of the company’s stock.

Several hedge funds have recently bought and sold shares of the business. Connors Investor Services Inc. boosted its holdings in Astronics by 0.7% in the first quarter. Connors Investor Services Inc. now owns 56,960 shares of the aerospace company’s stock valued at $1,864,000 after acquiring an additional 378 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Astronics by 196.6% in the first quarter. PNC Financial Services Group Inc. now owns 872 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 578 shares in the last quarter. Pinnacle Associates Ltd. boosted its holdings in Astronics by 4.0% in the first quarter. Pinnacle Associates Ltd. now owns 15,670 shares of the aerospace company’s stock valued at $513,000 after acquiring an additional 600 shares in the last quarter. Legal & General Group Plc boosted its holdings in Astronics by 23.7% in the fourth quarter. Legal & General Group Plc now owns 4,015 shares of the aerospace company’s stock valued at $122,000 after acquiring an additional 770 shares in the last quarter. Finally, Optimum Investment Advisors bought a new stake in Astronics in the first quarter valued at $33,000. 64.92% of the stock is currently owned by hedge funds and other institutional investors.

Astronics Company Profile

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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