Jesup & Lamont Downgrades Astronics (ATRO) to Sell; Management Lowered Guidance
ATRO Hot Sheet
Rating Summary:3 Buy, 1 Hold, 0 Sell
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Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Jesup & Lamont downgrades Astronics Corp. (Nasdaq: ATRO) from Hold to Sell.
Jesup analyst says, "We are downgrading shares of ATRO to a SELL as yesterday, during market hours, ATRO revised 2009E guidance downward. Management now expects 2009E revenues in the range of $190 - $200 million (prior $200 - $210 million) due to continued weakness in the commercial transport and business jet markets. In addition, ATRO was informed recently that it was not selected for the U. S. Marine Corps’ contract for a ground radio maintenance and test system. As disappointing as this news is, we are not surprised as ATRO has been struggling for some time."
To see more analyst ratings on ATRO Click Here.
Astronics Corporation, through its subsidiaries, designs and manufactures lighting components and subsystems, as well as electrical power generation, and in-flight control and power distribution systems for the aircraft market
Jesup analyst says, "We are downgrading shares of ATRO to a SELL as yesterday, during market hours, ATRO revised 2009E guidance downward. Management now expects 2009E revenues in the range of $190 - $200 million (prior $200 - $210 million) due to continued weakness in the commercial transport and business jet markets. In addition, ATRO was informed recently that it was not selected for the U. S. Marine Corps’ contract for a ground radio maintenance and test system. As disappointing as this news is, we are not surprised as ATRO has been struggling for some time."
To see more analyst ratings on ATRO Click Here.
Astronics Corporation, through its subsidiaries, designs and manufactures lighting components and subsystems, as well as electrical power generation, and in-flight control and power distribution systems for the aircraft market
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