Astronics (NASDAQ:ATRO) Releases Earnings Results, Beats Expectations By $0.11 EPS

Astronics (NASDAQ:ATRO) announced its quarterly earnings results on Tuesday. The aerospace company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.11, FiscalAI reports. The company had revenue of $259.96 million for the quarter, compared to analysts’ expectations of $245.30 million. Astronics had a net margin of 5.12% and a return on equity of 49.34%.

Astronics Price Performance

Astronics stock traded down $0.55 during midday trading on Tuesday, hitting $74.91. 771,966 shares of the company’s stock were exchanged, compared to its average volume of 754,393. The company has a market cap of $3.22 billion, a P/E ratio of 76.18 and a beta of 1.15. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.63 and a current ratio of 2.97. The stock has a 50-day moving average price of $74.00 and a two-hundred day moving average price of $66.70. Astronics has a 52-week low of $25.87 and a 52-week high of $88.72.

Institutional Trading of Astronics

A number of large investors have recently modified their holdings of ATRO. Quarry LP grew its holdings in shares of Astronics by 33.6% during the fourth quarter. Quarry LP now owns 568 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 143 shares in the last quarter. US Bancorp DE raised its stake in Astronics by 41.0% in the third quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock valued at $44,000 after purchasing an additional 281 shares in the last quarter. WINTON GROUP Ltd raised its stake in Astronics by 4.6% in the third quarter. WINTON GROUP Ltd now owns 8,644 shares of the aerospace company’s stock valued at $394,000 after purchasing an additional 383 shares in the last quarter. Captrust Financial Advisors lifted its position in Astronics by 2.3% during the second quarter. Captrust Financial Advisors now owns 19,220 shares of the aerospace company’s stock valued at $643,000 after purchasing an additional 435 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Astronics by 0.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 49,350 shares of the aerospace company’s stock valued at $2,677,000 after purchasing an additional 441 shares during the last quarter. Institutional investors own 56.68% of the company’s stock.

Wall Street Analyst Weigh In

ATRO has been the subject of several recent research reports. Wall Street Zen cut Astronics from a “strong-buy” rating to a “buy” rating in a research report on Saturday. TD Cowen raised their target price on Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a report on Friday, July 17th. Truist Financial upgraded Astronics to a “strong-buy” rating in a research report on Monday, May 4th. Finally, Zacks Research upgraded Astronics from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. Three equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $74.17.

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.