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

Astronics Corporation (NASDAQ:ATRO) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $55.65 and last traded at $55.3350, with a volume of 386599 shares changing hands. The stock had previously closed at $54.80.

Analyst Upgrades and Downgrades

ATRO has been the topic of a number of research reports. Truist Financial boosted their price objective on Astronics from $49.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Zacks Research raised Astronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a report on Wednesday, October 8th. Craig Hallum assumed coverage on shares of Astronics in a research report on Friday, October 10th. They set a “buy” rating and a $60.00 price objective for the company. Finally, Cowen initiated coverage on shares of Astronics in a report on Wednesday, November 26th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.00.

Astronics Price Performance

The stock has a 50-day moving average of $49.78 and a two-hundred day moving average of $40.78. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of -604.38 and a beta of 1.12. The company has a current ratio of 2.87, a quick ratio of 1.56 and a debt-to-equity ratio of 3.07.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Tuesday, November 4th. The aerospace company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07. Astronics had a negative net margin of 0.37% and a positive return on equity of 29.65%. The company had revenue of $211.45 million during the quarter, compared to analyst estimates of $210.80 million. On average, analysts anticipate that Astronics Corporation will post 0.82 EPS for the current year.

Hedge Funds Weigh In On Astronics

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATRO. Vanguard Group Inc. lifted its holdings in shares of Astronics by 1.7% in the first quarter. Vanguard Group Inc. now owns 1,601,632 shares of the aerospace company’s stock valued at $38,711,000 after purchasing an additional 27,025 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Astronics by 5.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 85,347 shares of the aerospace company’s stock valued at $2,063,000 after buying an additional 4,174 shares during the period. Invesco Ltd. lifted its stake in Astronics by 22.1% in the 1st quarter. Invesco Ltd. now owns 50,851 shares of the aerospace company’s stock worth $1,229,000 after acquiring an additional 9,218 shares in the last quarter. Nuveen LLC acquired a new stake in Astronics during the 1st quarter worth about $3,947,000. Finally, American Century Companies Inc. grew its stake in Astronics by 34.0% during the 1st quarter. American Century Companies Inc. now owns 44,739 shares of the aerospace company’s stock valued at $1,081,000 after acquiring an additional 11,362 shares in the last quarter. 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.