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

Astronics Co. (NASDAQ:ATRO)’s stock price hit a new 52-week high on Monday . The company traded as high as $33.75 and last traded at $33.29, with a volume of 80843 shares changing hands. The stock had previously closed at $33.44.

Wall Street Analyst Weigh In

ATRO has been the topic of several research reports. Wall Street Zen downgraded shares of Astronics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 21st. Truist Financial lowered their price target on shares of Astronics from $23.00 to $21.00 and set a “hold” rating for the company in a report on Thursday, April 17th.

Astronics Stock Performance

The firm has a fifty day moving average of $26.44 and a 200-day moving average of $21.60. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72. The firm has a market cap of $1.16 billion, a P/E ratio of -174.10 and a beta of 1.56.

Astronics (NASDAQ:ATRO) last issued its earnings results on Tuesday, May 6th. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.19. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. The company had revenue of $205.94 million for the quarter, compared to analyst estimates of $192.53 million. Research analysts predict that Astronics Co. will post 0.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Astronics

A number of hedge funds and other institutional investors have recently bought and sold shares of ATRO. Arcadia Investment Management Corp MI acquired a new position in Astronics during the fourth quarter worth $135,000. Wealthspire Advisors LLC lifted its holdings in shares of Astronics by 42.7% during the fourth quarter. Wealthspire Advisors LLC now owns 21,789 shares of the aerospace company’s stock worth $348,000 after buying an additional 6,523 shares in the last quarter. Skylands Capital LLC bought a new stake in shares of Astronics in the fourth quarter valued at about $1,622,000. Bank of New York Mellon Corp grew its position in shares of Astronics by 16.4% during the 4th quarter. Bank of New York Mellon Corp now owns 108,231 shares of the aerospace company’s stock worth $1,727,000 after purchasing an additional 15,242 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new position in shares of Astronics during the fourth quarter worth approximately $178,000. Institutional investors and hedge funds own 56.68% of the company’s stock.

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.