Astronics (NASDAQ:ATRO) Stock Price Up 7% – Still a Buy?

Astronics Corporation (NASDAQ:ATRO) shares traded up 7% on Monday . The stock traded as high as $68.90 and last traded at $68.4050. 176,010 shares traded hands during trading, a decline of 77% from the average session volume of 760,918 shares. The stock had previously closed at $63.93.

Wall Street Analysts Forecast Growth

ATRO has been the topic of a number of research reports. CJS Securities upgraded Astronics to a “strong-buy” rating in a research report on Thursday, December 11th. Craig Hallum reaffirmed a “buy” rating on shares of Astronics in a research report on Friday, January 9th. Truist Financial lifted their price objective on shares of Astronics from $75.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. TD Cowen began coverage on shares of Astronics in a research note on Wednesday, November 26th. They issued a “buy” rating for the company. Finally, Wall Street Zen upgraded shares of Astronics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 28th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Astronics has an average rating of “Buy” and a consensus target price of $77.33.

Astronics Stock Up 8.7%

The firm has a market cap of $2.48 billion, a P/E ratio of 90.23 and a beta of 1.06. The business’s fifty day moving average price is $74.26 and its two-hundred day moving average price is $57.23. The company has a current ratio of 3.10, a quick ratio of 1.71 and a debt-to-equity ratio of 2.39.

Astronics (NASDAQ:ATRO) last posted its earnings results on Tuesday, February 24th. The aerospace company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.12. The company had revenue of $240.07 million for the quarter, compared to analyst estimates of $237.11 million. Astronics had a return on equity of 39.95% and a net margin of 3.41%.The business’s revenue was up 15.1% compared to the same quarter last year. During the same period last year, the company earned $0.46 earnings per share. As a group, equities research analysts anticipate that Astronics Corporation will post 0.82 EPS for the current year.

Hedge Funds Weigh In On Astronics

Institutional investors have recently modified their holdings of the company. IFP Advisors Inc grew its stake in Astronics by 389.6% in the 3rd quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock valued at $26,000 after buying an additional 448 shares during the last quarter. Allworth Financial LP increased its position in Astronics by 57.1% in the 4th quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock worth $29,000 after buying an additional 192 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Astronics by 147.6% during the second quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock worth $30,000 after buying an additional 533 shares during the last quarter. Quarry LP boosted its position in shares of Astronics by 33.6% in the fourth quarter. Quarry LP now owns 568 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 143 shares during the period. Finally, Leonteq Securities AG bought a new position in Astronics during the fourth quarter worth $33,000. 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.