Astronics (NASDAQ:ATRO) Trading Up 5.6% – Still a Buy?

Astronics Corporation (NASDAQ:ATRO)’s stock price shot up 5.6% on Wednesday . The company traded as high as $85.25 and last traded at $83.8470. 91,153 shares traded hands during trading, a decline of 86% from the average session volume of 650,981 shares. The stock had previously closed at $79.38.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ATRO. Wall Street Zen raised shares of Astronics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 28th. Zacks Research lowered shares of Astronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a research note on Monday, April 20th. Finally, Truist Financial upgraded shares of Astronics to a “strong-buy” rating in a research note on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $77.33.

Astronics Price Performance

The stock’s 50 day simple moving average is $72.43 and its 200-day simple moving average is $66.29. The company has a debt-to-equity ratio of 2.07, a current ratio of 2.97 and a quick ratio of 1.63. The company has a market capitalization of $3.01 billion, a PE ratio of 71.63 and a beta of 1.10.

Astronics (NASDAQ:ATRO) last released its earnings results on Tuesday, May 12th. The aerospace company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. The firm had revenue of $230.62 million during the quarter, compared to analyst estimates of $225.52 million. Astronics had a return on equity of 49.34% and a net margin of 5.12%.Astronics’s revenue was up 12.0% compared to the same quarter last year. During the same period last year, the business posted $0.44 earnings per share. As a group, equities analysts forecast that Astronics Corporation will post 2.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP grew its position 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 buying an additional 143 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Astronics by 19.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,137 shares of the aerospace company’s stock worth $62,000 after buying an additional 188 shares in the last quarter. Allworth Financial LP grew its position in shares of Astronics by 57.1% during the fourth quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock worth $29,000 after buying an additional 192 shares in the last quarter. Covestor Ltd grew its position in shares of Astronics by 25.4% during 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 in the last quarter. Finally, US Bancorp DE grew its position in shares of 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 buying an additional 281 shares in the last quarter. 56.68% of the stock is currently owned by hedge funds and other institutional investors.

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.