Astronics Corporation: Supplier of Products to the Aerospace and Defense Industries

Keith Weissman presented his in-depth investment thesis on Astronics Corporation (ATRO) at Best Ideas 2015.

Astronics Corporation: Astronics Corporation is a supplier of products to the aerospace and defense industries. The Company’s products include lighting systems, electrical power generation systems, aircraft safety systems, electrical power distribution systems and avionics databus products for the global aerospace industry, as well as test, training and simulation systems for the military. Over the past few years, the company has undertaken a series of acquisitions aimed at broadening its product offering and strengthening its position with customers. On top of this, the financial wherewithal of the airline industry has improved greatly helped more recently by the precipitous drop in crude oil prices. Order books at the major aircraft manufacturers remain full providing ample opportunity for the company to grow sales. The burgeoning demand for inflight connectivity should drive multiple years of growth in several of the company’s products. The combined impact of the broader product offering and favorable macro trends is not fully reflected in the company’s earnings estimates providing a compelling opportunity in the shares.

About the instructor:

Keith Weissman is a Senior Analyst and Director of Research at Sibilla Capital. He has more than 15 years of experience in equity research and principle investment. His approach to fundamental analysis has been developed over his career having looked at investment opportunities across a variety of sectors from both the perspective of a market-oriented and private equity investor. Prior to joining Sibilla, Mr. Weissman served as a research analyst at CLSA Asia-Pacific Markets covering companies in the aerospace sector. During his time at CLSA, he developed a comprehensive framework for analyzing investment opportunities which serves as the basis for fundamental research performed at Sibilla. Before transitioning to CLSA, he closed over $1 billion in principle investments. In doing so, Mr. Weissman developed deep due diligence and valuation skills that formed the foundation of his approach to investment research.

Mr. Weissman holds a Master’s in Business Administration from Columbia Business School and a Bachelor of Science degree in Economics from the Wharton School of the University of Pennsylvania. In addition, he is a CFA charter holder, a CPA license holder and is an adjunct professor in the Gabelli School of Business at Fordham University, the Zicklin School of Business at Baruch College, and the Lubin School of Business at Pace University. He has lectured on topics such as corporate valuation, investment analysis, portfolio management, banking and central bank policy, the securities industry, and risk management.

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