Astronics (NASDAQ:ATRO) Shares Down 5.9% – Time to Sell?

Astronics Corporation (NASDAQ:ATRO) traded down 5.9% during trading on Tuesday . The stock traded as low as $80.81 and last traded at $80.5850. 247,515 shares traded hands during trading, a decline of 68% from the average session volume of 782,535 shares. The stock had previously closed at $85.66.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ATRO shares. Truist Financial upgraded Astronics to a “strong-buy” rating in a research note on Monday, May 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research report on Monday, April 20th. Wall Street Zen raised shares of Astronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 21st. TD Cowen raised their target price on shares of Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Finally, Zacks Research downgraded shares of Astronics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $74.17.

Astronics Trading Down 9.5%

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 business has a fifty day simple moving average of $70.18 and a 200 day simple moving average of $62.06. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 78.87 and a beta of 1.14.

Astronics (NASDAQ:ATRO) last posted its earnings results on Tuesday, May 12th. The aerospace company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Astronics had a return on equity of 49.34% and a net margin of 5.12%.The company had revenue of $230.62 million during the quarter, compared to the consensus estimate of $225.52 million. During the same quarter last year, the firm earned $0.37 earnings per share. The company’s revenue was up 12.0% on a year-over-year basis. As a group, research analysts expect that Astronics Corporation will post 2.23 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. IFP Advisors Inc boosted its stake in shares of Astronics by 389.6% in the third quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock valued at $26,000 after buying an additional 448 shares during the period. Allworth Financial LP increased its stake in Astronics by 57.1% during the 4th quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 192 shares during the period. EverSource Wealth Advisors LLC raised 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 valued at $30,000 after acquiring an additional 533 shares in the last quarter. Quarry LP raised its holdings in Astronics by 33.6% in the 4th quarter. Quarry LP now owns 568 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 143 shares in the last quarter. Finally, Leonteq Securities AG bought a new stake in shares of Astronics during the 4th quarter valued at $33,000. 56.68% of the stock is owned by 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.