Astronics (NASDAQ:ATRO) Shares Gap Down – Here’s What Happened

Astronics Corporation (NASDAQ:ATRO) gapped down prior to trading on Wednesday . The stock had previously closed at $47.99, but opened at $43.05. Astronics shares last traded at $47.3590, with a volume of 243,135 shares.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ATRO. Truist Financial upped their price objective on shares of Astronics from $49.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Wall Street Zen upgraded shares of Astronics from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Craig Hallum assumed coverage on Astronics in a report on Friday, October 10th. They issued a “buy” rating and a $60.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded Astronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.00.

Astronics Price Performance

The company has a debt-to-equity ratio of 0.59, a current ratio of 3.04 and a quick ratio of 1.63. The stock has a 50 day simple moving average of $44.88 and a two-hundred day simple moving average of $36.38. The company has a market cap of $1.66 billion, a price-to-earnings ratio of -391.47 and a beta of 1.63.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings results on Tuesday, November 4th. The aerospace company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.42 by $0.07. The business had revenue of $211.45 million for the quarter, compared to analyst estimates of $210.80 million. Astronics had a positive return on equity of 22.89% and a negative net margin of 0.45%. Astronics has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Astronics Corporation will post 0.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Astronics news, insider James Mulato sold 1,129 shares of the business’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $38.16, for a total value of $43,082.64. Following the transaction, the insider directly owned 1,066 shares in the company, valued at $40,678.56. The trade was a 51.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 10.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Earnest Partners LLC acquired a new stake in Astronics during the first quarter worth $12,774,000. Hennessy Advisors Inc. purchased a new position in shares of Astronics during the 2nd quarter worth $15,046,000. Millennium Management LLC grew its holdings in shares of Astronics by 80.1% during the 1st quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock worth $18,054,000 after purchasing an additional 332,133 shares during the period. American Century Companies Inc. increased its position in shares of Astronics by 659.8% during the 2nd quarter. American Century Companies Inc. now owns 339,947 shares of the aerospace company’s stock worth $11,381,000 after purchasing an additional 295,208 shares during the last quarter. Finally, SG Capital Management LLC purchased a new stake in Astronics in the 3rd quarter valued at about $11,617,000. 56.68% of the stock is currently owned by hedge funds and other institutional investors.

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.