Astronics (NASDAQ:ATRO) Hits New 1-Year High – Here’s Why

Astronics Co. (NASDAQ:ATRO)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $26.16 and last traded at $25.84, with a volume of 95561 shares. The stock had previously closed at $25.35.

Analyst Upgrades and Downgrades

Several research firms recently commented on ATRO. Truist Financial raised their target price on Astronics from $17.00 to $23.00 and gave the stock a “hold” rating in a report on Wednesday, March 5th. StockNews.com raised Astronics from a “hold” rating to a “buy” rating in a report on Thursday, March 6th.

Astronics Stock Performance

The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46. The firm has a fifty day simple moving average of $19.96 and a 200 day simple moving average of $18.58. The company has a market capitalization of $933.39 million, a price-to-earnings ratio of -139.28 and a beta of 1.74.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings data on Tuesday, March 4th. The aerospace company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.21 by $0.27. Astronics had a positive return on equity of 6.94% and a negative net margin of 0.82%. The company had revenue of $208.54 million for the quarter, compared to analyst estimates of $194.91 million. During the same period last year, the company earned $0.35 earnings per share. On average, analysts anticipate that Astronics Co. will post 0.82 earnings per share for the current fiscal year.

Insider Transactions at Astronics

In other news, Director Robert S. Keane sold 77,099 shares of Astronics stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $24.55, for a total value of $1,892,780.45. Following the sale, the director now directly owns 6,346 shares of the company’s stock, valued at $155,794.30. The trade was a 92.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 10.86% of the company’s stock.

Hedge Funds Weigh In On Astronics

A number of institutional investors have recently added to or reduced their stakes in ATRO. Advisors Asset Management Inc. lifted its position in Astronics by 32.2% during the third quarter. Advisors Asset Management Inc. now owns 84,181 shares of the aerospace company’s stock worth $1,640,000 after buying an additional 20,514 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Astronics by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 81,169 shares of the aerospace company’s stock worth $1,581,000 after buying an additional 1,432 shares in the last quarter. Algert Global LLC raised its position in Astronics by 367.2% in the third quarter. Algert Global LLC now owns 56,072 shares of the aerospace company’s stock valued at $1,092,000 after purchasing an additional 44,070 shares during the period. FMR LLC raised its position in Astronics by 22.9% in the third quarter. FMR LLC now owns 46,597 shares of the aerospace company’s stock valued at $908,000 after purchasing an additional 8,670 shares during the period. Finally, Verition Fund Management LLC raised its position in Astronics by 92.7% in the third quarter. Verition Fund Management LLC now owns 20,700 shares of the aerospace company’s stock valued at $403,000 after purchasing an additional 9,956 shares during the period. Hedge funds and other institutional investors 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.