Canaccord Genuity Maintains Astronics Corporation to Buy with Price Target $50.00

Brokerage firm Canaccord Genuity Maintains its rating on Astronics Corporation(NASDAQ:ATRO). In a research note issued to the investors, the brokerage major Raises the price-target to $50.00 per share. The shares have been rated Buy. The rating by Canaccord Genuity was issued on Sep 26, 2016.

Astronics Corporation (ATRO) made into the market gainers list on Thursdays trading session with the shares advancing 2.26% or 0.97 points. Due to strong positive momentum, the stock ended at $43.96, which is also near the day’s high of $44.02. The stock began the session at $43.37 and the volume stood at 51,975 shares. The 52-week high of the shares is $48 and the 52 week low is $24.75. The company has a current market capitalization of $1,112 M and it has 2,52,94,641 shares in outstanding.

Astronics Corporation(ATRO) last announced its earnings results on Aug 3, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $164.43M. Analysts had an estimated revenue of $162.17M. Earnings per share were $0.57. Analysts had estimated an EPS of $0.48.

Several Insider Transactions has been reported to the SEC. On Aug 16, 2016, John B Drenning (director) sold 5,000 shares at $43.47 per share price.Also, On Jun 2, 2016, James S Kramer (Executive Vice President) sold 3,000 shares at $38.12 per share price.On May 23, 2016, Robert T Brady (director) purchased 4,500 shares at $35.39 per share price, according to the Form-4 filing with the securities and exchange commission.

Astronics Corporation is a supplier of products to the aerospace defense consumer electronics and semi-conductor industries. Its products include advanced high-performance lighting and safety systems electrical power generation and distribution systems aircraft structures avionics products and automatic test systems. The Company has two segments: Aerospace and Test Systems. It designs and builds its products through its wholly owned subsidiaries Astronics Advanced Electronic Systems Corp. (AES); Astronics AeroSat Corporation (AeroSat); Ballard Technology Inc. (Ballard); DME Corporation (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 Company has operations in the United States Canada and France.

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