Auriga Raises Estimates and Price Target on Astronics (ATRO), However, Valuation Still Looks Full
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Price: $93.45 +0.91%
Rating Summary:
9 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
9 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Auriga reiterates a 'Hold' on Astronics (NASDAQ: ATRO) price target raised from $35 to $38.
Auriga analyst says, "ATRO reported a solid fourth-quarter, with upside stemming from better-than-expected demand of its cabin electronics products and wider margins on sales leverage. The quarter did include several one-time items including an impairment charge on its Test Systems business following the government cancellation of the VDATS procurement program and a $500,000 allowance for American Airlines receivables. Net-net, the company performed well from a fundamental perspective, and we are increasing our price target to $38 reflecting a consistent 18x multiple of our revised 2013 estimate of $2.15 (from $2.05). Given the current share price within 10% of our target, we reiterate our rating as shares appear close to fully valued."
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 $35.07 yesterday.
Auriga analyst says, "ATRO reported a solid fourth-quarter, with upside stemming from better-than-expected demand of its cabin electronics products and wider margins on sales leverage. The quarter did include several one-time items including an impairment charge on its Test Systems business following the government cancellation of the VDATS procurement program and a $500,000 allowance for American Airlines receivables. Net-net, the company performed well from a fundamental perspective, and we are increasing our price target to $38 reflecting a consistent 18x multiple of our revised 2013 estimate of $2.15 (from $2.05). Given the current share price within 10% of our target, we reiterate our rating as shares appear close to fully valued."
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 $35.07 yesterday.
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