Stock On Watch: Is Astronics Corporation’s Fuel Running Low? The Stock Just Declined Again

Stock On Watch: Is Astronics Corporation's Fuel Running Low? The Stock Just Declined Again

The stock of Astronics Corporation (NASDAQ:ATRO) is a huge mover today! About 114,319 shares traded hands or 37.05% up from the average. Astronics Corporation (NASDAQ:ATRO) has risen 30.88% since March 3, 2016 and is uptrending. It has outperformed by 22.54% the S&P500.
The move comes after 8 months negative chart setup for the $990.21M company. It was reported on Oct, 6 by Barchart.com. We have $35.01 PT which if reached, will make NASDAQ:ATRO worth $89.12 million less.

Analysts await Astronics Corporation (NASDAQ:ATRO) to report earnings on November, 8. They expect $0.54 EPS, down 42.55% or $0.40 from last year’s $0.94 per share. ATRO’s profit will be $13.90 million for 17.81 P/E if the $0.54 EPS becomes a reality. After $0.57 actual EPS reported by Astronics Corporation for the previous quarter, Wall Street now forecasts -5.26% negative EPS growth.

Astronics Corporation (NASDAQ:ATRO) Ratings Coverage

Out of 4 analysts covering Astronics Corporation (NASDAQ:ATRO), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Astronics Corporation has been the topic of 10 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The rating was upgraded by KeyBanc Capital Markets on Thursday, February 18 to “Overweight”. KeyBanc Capital Markets upgraded the shares of ATRO in a report on Wednesday, June 29 to “Overweight” rating. Canaccord Genuity maintained it with “Buy” rating and $50 target price in Monday, September 26 report. The firm has “Buy” rating given on Thursday, August 27 by CL King.

According to Zacks Investment Research, “Astronics Corporation is a manufacturer of specialized lighting and electronics for the cockpit, cabin and exteriors of military, commercial transport and private business jet aircraft. A major lighting and electronics supplier to the aircraft industry, its strategy is to expand from a components and subsystems supplier to an aircraft lighting systems integrator, increasing the value and content it provides to various aircraft platforms. Luminescent Systems Inc. is Astronics’ primary operating subsidiary which produces its aerospace and defense products.”

Insitutional Activity: The institutional sentiment decreased to 0.85 in Q2 2016. Its down 0.58, from 1.43 in 2016Q1. The ratio dived, as 22 funds sold all Astronics Corporation shares owned while 44 reduced positions. 16 funds bought stakes while 40 increased positions. They now own 16.48 million shares or 3.13% less from 17.01 million shares in 2016Q1.
Zurcher Kantonalbank (Zurich Cantonalbank) last reported 0% of its portfolio in the stock. Moreover, Vanguard Grp Inc Inc has 0% invested in Astronics Corporation (NASDAQ:ATRO) for 939,855 shares. Jpmorgan Chase & holds 0% of its portfolio in Astronics Corporation (NASDAQ:ATRO) for 709 shares. Springbok Cap Mngmt Limited Company has 1,100 shares for 0.01% of their US portfolio. Tower Research Limited Liability Com (Trc) holds 2,498 shares or 0.01% of its portfolio. Employees Retirement Association Of Colorado has invested 0% of its portfolio in Astronics Corporation (NASDAQ:ATRO). Mutual Of America Capital Mngmt Ltd Co has 0.19% invested in the company for 264,870 shares. Lsv Asset Mngmt holds 33,207 shares or 0% of its portfolio. The Texas-based 1St Global Advisors Inc has invested 0.07% in Astronics Corporation (NASDAQ:ATRO). Barclays Public Ltd has 0% invested in the company for 342 shares. Minerva Advsr Ltd Llc has invested 0.76% of its portfolio in Astronics Corporation (NASDAQ:ATRO). The New York-based Citigroup Inc has invested 0% in Astronics Corporation (NASDAQ:ATRO). Neuberger Berman Group Ltd Company, a New York-based fund reported 1.38 million shares. Legal General Gp Public Ltd Liability Com has invested 0% of its portfolio in Astronics Corporation (NASDAQ:ATRO). Franklin Resources owns 1.20 million shares or 0.02% of their US portfolio.

Insider Transactions: Since June 1, 2016, the stock had 0 insider purchases, and 2 sales for $331,710 net activity. 5,000 shares were sold by DRENNING JOHN B, worth $217,350. KRAMER JAMES S also sold $114,360 worth of Astronics Corporation (NASDAQ:ATRO) shares.

More important recent Astronics Corporation (NASDAQ:ATRO) news were published by: Marketwatch.com which released: “Astronics downgraded to sector weight from overweight at KeyBanc Capital” on October 16, 2010, also Globenewswire.com published article titled: “Astronics Corporation Announces Acquisition of PECO Inc.”, Streetinsider.com published: “Astronics Corp (ATRO) Plans 15% Class B Stock Distribution” on September 26, 2016. More interesting news about Astronics Corporation (NASDAQ:ATRO) was released by: Globenewswire.com and their article: “Astronics Corporation Awarded EmPower® Contracts from Three Major Asia Airlines” with publication date: June 23, 2016.

ATRO Company Profile

Astronics Corporation, incorporated on December 5, 1968, is a supplier of products to the aerospace, defense, electronics and semiconductor industries. The Company’s services and products include electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems. The Firm operates through two divisions: Aerospace and Test Systems. It creates and manufactures its products through its subsidiaries, Astronics Advanced Electronic Systems Corp. (AES); Astronics AeroSat Corporation (AeroSat); Ballard Technology, Inc. (Ballard); Astronics DME LLC (DME); Luminescent Systems, Inc. (LSI); Luminescent Systems Canada, Inc. (LSI Canada); Max-Viz, Inc. (Max-Viz); Peco, Inc. (Peco); PGA Electronic s.a. (PGA); Astronics Test Systems, Inc., and Armstrong Aerospace, Inc. (Armstrong). The Firm has activities in the United States, Canada and France.

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