On Jun 1, Zacks Investment Research upgraded
) to a Zacks Rank #1 (Strong Buy).
ALLIANT TECHSYS (ATK): Free Stock Analysis
ASTRONICS CORP (ATRO): Free Stock Analysis
BOEING CO (BA): Free Stock Analysis Report
KRATOS DEFENSE (KTOS): Free Stock Analysis
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Why the Upgrade?
Astronics Corporation Inc. has witnessed rising earnings
estimates after posting an earnings surprise in the first quarter
2013. Moreover, this aerospace and defense company delivered
positive earnings surprises in 6 of the last 10 quarters with an
average beat of 10.1%.
Astronics Corporation's first quarter earnings per share came in
at 56 cents, surpassing the Zacks Consensus Estimate by 19.1%.
The results benefited from strong performance from both Aerospace
and Test Systems. In addition, selling, general and
administrative expenses, as a percentage of total revenue,
declined 120 basis points in the reported quarter, benefiting
Astronics Corporation's total revenue in the first quarter
increased 13.6% year over year. Strong orders booked by the
company are also evident from its growing backlog. Astronics
Corporation exited the first quarter 2013 with a backlog of
$118.9 million, up 3.9% sequentially.
We believe Astronics Corporation's decision to acquire the
outstanding shares of PECO Inc. for approximately $136 million in
cash, will benefit the company. PECO has been designing and
manufacturing commercial aerospace interior components, having a
longstanding relationship with many aerospace customers,
The Boeing Company
The Zacks Consensus Estimate for 2013 increased 5.7% to $2.04 per
share as 2 out of 3 estimates were revised higher over the last
30 days. For 2014, 2 out of 3 estimates moved north over the same
time frame, lifting the Zacks Consensus Estimate by 0.9% to $2.32
Other Stocks to Consider
Besides Astronics Corporation other operators in the industry
with a favorable Zacks Rank are
Alliant Techsystems Inc.
Kratos Defense & Security Solutions Inc.
). Kratos Defense presently carries a Zacks Rank # 1 (Strong
Buy), while Alliant holds a Zacks Rank #2 (Buy).