Astronics (NASDAQ:ATRO) Hits New 12-Month High – What’s Next?

Astronics Corporation (NASDAQ:ATRO) shares reached a new 52-week high on Friday . The stock traded as high as $52.03 and last traded at $52.1230, with a volume of 483319 shares. The stock had previously closed at $49.19.

Wall Street Analyst Weigh In

ATRO has been the topic of a number of research analyst reports. Craig Hallum initiated coverage on Astronics in a research note on Friday, October 10th. They issued a “buy” rating and a $60.00 target price on the stock. Wall Street Zen raised shares of Astronics from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a report on Wednesday, October 8th. Zacks Research upgraded Astronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Finally, Truist Financial lifted their price target on Astronics from $49.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.00.

Astronics Trading Up 6.0%

The firm has a market capitalization of $1.85 billion, a PE ratio of -434.55 and a beta of 1.63. The firm’s 50-day simple moving average is $45.78 and its 200-day simple moving average is $37.15. The company has a quick ratio of 1.63, a current ratio of 3.04 and a debt-to-equity ratio of 0.59.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings data on Tuesday, November 4th. The aerospace company reported $0.49 earnings per share for the quarter, topping 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 analyst estimates of $210.80 million. Astronics has set its FY 2025 guidance at EPS. Equities analysts expect that Astronics Corporation will post 0.82 earnings per share for the current year.

Insider Activity

In other Astronics news, insider James Mulato sold 1,129 shares of the firm’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $38.16, for a total transaction of $43,082.64. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 9.39% of the company’s stock.

Institutional Trading of Astronics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its holdings in Astronics by 147.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock worth $30,000 after acquiring an additional 533 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Astronics by 166.7% in the third quarter. Jones Financial Companies Lllp now owns 752 shares of the aerospace company’s stock valued at $34,000 after purchasing an additional 470 shares in the last quarter. Signaturefd LLC grew its stake in shares of Astronics by 88.5% in the 1st quarter. Signaturefd LLC now owns 1,446 shares of the aerospace company’s stock worth $35,000 after buying an additional 679 shares in the last quarter. US Bancorp DE increased its stake in Astronics by 41.0% during the third quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock worth $44,000 after acquiring an additional 281 shares during the last quarter. Finally, Covestor Ltd lifted its position in Astronics by 25.4% in the third quarter. Covestor Ltd now owns 1,068 shares of the aerospace company’s stock worth $49,000 after buying an additional 216 shares during the last quarter. 56.68% of the stock is owned by hedge funds and other institutional investors.

About Astronics

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.