Truist Reiterates Buy Rating on Astronics Corporation (ATRO) Following Q3 Earnings Report

Core Viewpoint - Astronics Corporation (NASDAQ:ATRO) is highlighted as one of the best small-cap defense stocks to buy, with a reaffirmed Buy rating and a price target of $58 by Truist Financial analyst Michael Ciarmoli [1][2]. Financial Performance - Astronics reported a 3.8% increase in revenue to $211.4 million for Q3, driven by strong demand across its product lines, particularly an 8.5% growth in the Aerospace segment [3]. - The gross profit margin improved to 30.5% from 27.1% year-over-year, attributed to increased volume, effective production, and specific pricing actions [4]. - Diluted EPS rose by 44% year-over-year to $0.49, exceeding estimates by 7 cents [4]. Future Outlook - The CEO anticipates a strong finish to the year, projecting fourth-quarter sales between $225 million and $235 million, aiming for record annual sales of $847 million to $857 million [5]. - The stock has experienced significant growth, gaining over 220% year-to-date as of November 14 [5].