Truist Financial Issues Pessimistic Forecast for Astronics (NASDAQ:ATRO) Stock Price

Astronics (NASDAQ:ATRO) had its price objective trimmed by Truist Financial from $20.00 to $17.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a hold rating on the aerospace company’s stock.

Astronics Price Performance

ATRO stock opened at $16.07 on Tuesday. The business has a 50 day moving average price of $16.42 and a 200 day moving average price of $18.78. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72. The stock has a market cap of $566.66 million, a price-to-earnings ratio of -84.57 and a beta of 1.79. Astronics has a fifty-two week low of $14.13 and a fifty-two week high of $23.74.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ATRO. State Street Corp increased its holdings in shares of Astronics by 6.7% in the 3rd quarter. State Street Corp now owns 924,070 shares of the aerospace company’s stock valued at $18,001,000 after acquiring an additional 58,356 shares during the period. Dimensional Fund Advisors LP boosted its stake in Astronics by 4.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 888,942 shares of the aerospace company’s stock worth $17,806,000 after purchasing an additional 40,438 shares during the period. Geode Capital Management LLC grew its position in Astronics by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 691,522 shares of the aerospace company’s stock worth $13,474,000 after purchasing an additional 13,469 shares during the last quarter. First Eagle Investment Management LLC increased its stake in Astronics by 8.5% in the second quarter. First Eagle Investment Management LLC now owns 391,426 shares of the aerospace company’s stock valued at $7,840,000 after purchasing an additional 30,550 shares during the period. Finally, Needham Investment Management LLC raised its holdings in shares of Astronics by 9.2% in the third quarter. Needham Investment Management LLC now owns 267,500 shares of the aerospace company’s stock valued at $5,211,000 after buying an additional 22,500 shares during the last quarter. Institutional investors and hedge funds 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.