Astronics (NASDAQ:ATRO) Shares Gap Down – What’s Next?

Astronics Corporation (NASDAQ:ATRO) shares gapped down prior to trading on Wednesday . The stock had previously closed at $47.99, but opened at $43.05. Astronics shares last traded at $47.3590, with a volume of 243,135 shares traded.

Analyst Upgrades and Downgrades

Several research firms recently commented on ATRO. Truist Financial raised their price target on shares of Astronics from $49.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research note on Wednesday, October 8th. Zacks Research cut shares of Astronics from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Wall Street Zen upgraded shares of Astronics from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Finally, Craig Hallum initiated coverage on shares of Astronics in a research note on Friday, October 10th. They issued a “buy” rating and a $60.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Astronics presently has an average rating of “Hold” and a consensus price target of $59.00.

Astronics Trading Down 5.6%

The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.63 and a current ratio of 3.04. The stock has a market cap of $1.60 billion, a P/E ratio of -376.58 and a beta of 1.63. The stock has a 50-day moving average price of $44.27 and a 200-day moving average price of $36.04.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings results on Tuesday, November 4th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07. Astronics had a positive return on equity of 22.89% and a negative net margin of 0.45%.The firm had revenue of $211.45 million for the quarter, compared to the consensus estimate of $210.80 million. Astronics has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Astronics Corporation will post 0.82 EPS for the current year.

Insiders Place Their Bets

In related news, insider James Mulato sold 1,129 shares of Astronics stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $38.16, for a total transaction of $43,082.64. Following the completion of the transaction, the insider directly owned 1,066 shares in the company, valued at approximately $40,678.56. This trade represents a 51.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 10.83% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp raised its holdings in Astronics by 166.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 752 shares of the aerospace company’s stock valued at $34,000 after acquiring an additional 470 shares during the last quarter. State of Wyoming acquired a new position in Astronics in the 3rd quarter valued at $191,000. Principal Financial Group Inc. acquired a new stake in shares of Astronics during the 3rd quarter worth $2,204,000. Hazlett Burt & Watson Inc. increased its holdings in Astronics by 250.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,225 shares of the aerospace company’s stock valued at $56,000 after purchasing an additional 875 shares in the last quarter. Finally, AlphaQuest LLC purchased a new position in Astronics in the 3rd quarter valued at about $351,000. 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.