Astronics (ATRO) Gets a Hold Rating from Canaccord Genuity


Canaccord Genuity analyst Kenneth Herbert maintained a Hold rating on Astronics (ATRO) yesterday and set a price target of $7.00. The company’s shares closed last Friday at $6.40, close to its 52-week low of $6.30.

According to TipRanks.com, Herbert is a 5-star analyst with an average return of 16.0% and a 64.6% success rate. Herbert covers the Technology sector, focusing on stocks such as Aerojet Rocketdyne Holdings, Rada Electronics Industries, and Spirit AeroSystems.

The word on The Street in general, suggests a Hold analyst consensus rating for Astronics with a $7.00 average price target.

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Based on Astronics’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $124 million and GAAP net loss of $23.58 million. In comparison, last year the company earned revenue of $189 million and had a net profit of $6.73 million.

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Astronics Corp. engages in the provision of electrical power generation and distribution systems. It includes motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification, and automated test systems. It operates through the Aerospace and Test Systems segments. The Aerospace segment designs and manufactures products for the global aerospace industry. The Test Systems segment designs, develops, manufactures and maintains communications and weapons test systems and training and simulation devices for military applications. The firm’s products and solutions include Aircraft Data Systems, Aircraft Electrical Power Systems, Airfield Lighting, Custom Design & Manufacturing, Emergency Systems, Enhanced Vision Systems, IFC Antennas and Radome Systems, Inflight Entertainment System Hardware, Interiors & Structures, Lighting Systems, Seat Actuation Systems, Simulation & Training, Systems Certification, Test & Measurement and VIP IFEC & CMS Systems. The company was founded in 1968 and is headquartered in East Aurora, NY.

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