Astronics (NASDAQ:ATRO) Reaches New 52-Week High – What’s Next?

Astronics Corporation (NASDAQ:ATRO)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $70.45 and last traded at $67.35, with a volume of 1679119 shares changing hands. The stock had previously closed at $69.97.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ATRO. CJS Securities upgraded shares of Astronics to a “strong-buy” rating in a research report on Thursday, December 11th. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 10th. Craig Hallum reiterated a “buy” rating on shares of Astronics in a report on Friday, January 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a research note on Wednesday, October 8th. Finally, Truist Financial set a $75.00 price target on Astronics in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Astronics presently has an average rating of “Moderate Buy” and a consensus target price of $66.67.

Astronics Trading Up 1.2%

The company has a quick ratio of 1.56, a current ratio of 2.87 and a debt-to-equity ratio of 3.07. The company has a market capitalization of $2.58 billion, a PE ratio of -804.47 and a beta of 1.10. The stock’s fifty day moving average price is $54.61 and its two-hundred day moving average price is $44.93.

Astronics (NASDAQ:ATRO) last released its quarterly earnings results 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 positive return on equity of 29.65% and a negative net margin of 0.37%.The business had revenue of $211.45 million during the quarter, compared to analyst estimates of $210.80 million. Sell-side analysts anticipate that Astronics Corporation will post 0.82 earnings per share for the current year.

Institutional Trading of Astronics

Several large investors have recently added to or reduced their stakes in ATRO. Hennion & Walsh Asset Management Inc. increased its position in Astronics by 15.0% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 50,805 shares of the aerospace company’s stock valued at $2,756,000 after purchasing an additional 6,639 shares during the period. SG Americas Securities LLC purchased a new position in shares of Astronics during the fourth quarter valued at about $2,279,000. Diversified Trust Co. purchased a new position in shares of Astronics during the fourth quarter valued at about $223,000. Wealth Enhancement Advisory Services LLC raised its stake in Astronics by 88.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,259 shares of the aerospace company’s stock worth $789,000 after buying an additional 6,230 shares in the last quarter. Finally, KFA Private Wealth Group LLC purchased a new stake in Astronics in the fourth quarter worth about $206,000. Institutional investors own 56.68% of the company’s stock.

Astronics Company Profile

Astronics Corporation (NASDAQ: ATRO) is a global leader in the design and manufacture of advanced technologies primarily for the aerospace, defense and semiconductor industries. Headquartered in East Aurora, New York, the company was founded in 1968 and has grown through a combination of internal development and strategic acquisitions. Astronics operates multiple business units focused on power conversion, distribution and control; cabin electronics and connectivity; aircraft lighting and safety solutions; and automated test systems.

The company’s aerospace products include onboard power generation and management systems, in-flight entertainment and connectivity hardware, LED and fluorescent lighting for aircraft cabins and cockpits, and safety equipment such as escape slide power units.