Astronics (NASDAQ:ATRO) Reaches New 12-Month High – Here’s Why

Astronics Co. (NASDAQ:ATRO)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $32.01 and last traded at $31.61, with a volume of 141496 shares trading hands. The stock had previously closed at $31.22.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ATRO shares. Truist Financial dropped their target price on Astronics from $23.00 to $21.00 and set a “hold” rating for the company in a report on Thursday, April 17th. Wall Street Zen cut Astronics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 21st.

Astronics Trading Up 1.5%

The company has a 50 day moving average of $25.35 and a 200-day moving average of $20.86. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.46 and a current ratio of 2.83. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -166.89 and a beta of 1.44.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings results on Tuesday, May 6th. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.19. The company had revenue of $205.94 million for the quarter, compared to analyst estimates of $192.53 million. Astronics had a positive return on equity of 6.94% and a negative net margin of 0.82%. On average, research analysts anticipate that Astronics Co. will post 0.82 earnings per share for the current year.

Insider Buying and Selling at Astronics

In other news, Director Robert S. Keane sold 77,099 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $24.55, for a total transaction of $1,892,780.45. Following the sale, the director now owns 6,346 shares of the company’s stock, valued at approximately $155,794.30. This trade represents a 92.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.39% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Astronics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Astronics during the 4th quarter worth about $776,000. Deutsche Bank AG raised its position in shares of Astronics by 10.8% during the 4th quarter. Deutsche Bank AG now owns 90,509 shares of the aerospace company’s stock worth $1,445,000 after acquiring an additional 8,859 shares in the last quarter. Royce & Associates LP raised its position in shares of Astronics by 18.7% during the 4th quarter. Royce & Associates LP now owns 1,150,355 shares of the aerospace company’s stock worth $18,360,000 after acquiring an additional 181,619 shares in the last quarter. Ironwood Investment Management LLC acquired a new stake in shares of Astronics during the 4th quarter worth about $439,000. Finally, Point72 Asset Management L.P. raised its position in shares of Astronics by 368.6% during the 4th quarter. Point72 Asset Management L.P. now owns 25,100 shares of the aerospace company’s stock worth $401,000 after acquiring an additional 19,744 shares in the last quarter. Institutional investors and hedge funds own 56.68% of the company’s stock.

Astronics Company Profile

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.