One company that should be on your radar is Astronics Corporation (ATRO). The stock of this Aerospace Equipment manufacturing industry has seen its Zacks Rank surge over the past four weeks, moving from Hold territory to its current position as a Strong Buy.
A key reason for this move has been the positive trend in the earnings estimate revisions picture. For ATRO’s full year estimate, we have seen 1 estimate go higher in the past 30 days while no downward estimate revision was observed in the same time period. This trend has helped the consensus estimate to trend higher, increasing from $2.51 a share a month ago to its current level at $2.70 per share.
This positive shift in estimates has made some investors take notice and buy the stock. In fact, ATRO has seen some pretty solid trading lately, as the company has moved higher by 23.8% in the past month.
If Astronics can keep up this great momentum on the earnings estimate front and continue to impress analysts, we could see more gains ahead for this company, suggesting that you might want to put ATRO on your watch list for the future.
Other top-ranked stocks worth considering in the same industry include Alliant Techsystems Inc. (ATK), BAE Systems plc (BAESY) and AeroVironment, Inc. (AVAV). While Alliant Techsystems and BAE Systems both sport a Zacks Rank #1 (Strong Buy), AeroVironment carries a Zacks Rank #2 (Buy).
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