Dougherty & Co Upgrades Astronics (ATRO) to Buy; Strong Leverage Inherent In The Model

May 3, 2012 11:21 AM EDT Send to a Friend
Get Alerts ATRO Hot Sheet
Price: $44.51 -1.48%

Rating Summary:
    6 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 37 | Down: 17 | New: 30
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Dougherty & Co upgraded Astronics (NASDAQ: ATRO) to Buy with a price target of $41.00.

Analyst, Richard A. Ryan, said, "At current levels, ATRO is trading roughly in line with peers at 7x -8x 2013 EBITDA, 13x – 14x 2013 EPS and 1.5x 2013 EV/Sales. The macro environment across ATRO’s end markets remains attractive and the sector is likely to maintain positive momentum going into the summer air shows. From a company-specific standpoint, we believe ATRO’s execution should remain strong as new airframe platforms start to contribute to results."

Adjusting numbers: 2012 sales of $257.6M and EPS of $1.84 from sales of $244.2M and EPS of $1.84...2013 sales of $283.6M and EPS of $2.20 from sales of $2694M and EPS of $2.15.

For an analyst ratings summary and ratings history on Astronics click here. For more ratings news on Astronics click here.

Shares of Astronics closed at $32.62 yesterday.


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