Astronics (NASDAQ:ATRO) Announces Quarterly Earnings Results

Astronics (NASDAQ:ATRO) posted its earnings results on Tuesday. The aerospace company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.72 by $0.09, FiscalAI reports. The firm had revenue of $271.68 million during the quarter, compared to analysts’ expectations of $267.97 million. Astronics had a net margin of 8.40% and a return on equity of 67.69%.

Astronics Price Performance

ATRO stock traded up $3.01 on Tuesday, reaching $62.00. 823,013 shares of the company’s stock were exchanged, compared to its average volume of 713,798. The stock has a fifty day moving average of $65.63 and a 200-day moving average of $67.46. The company has a quick ratio of 1.63, a current ratio of 2.97 and a debt-to-equity ratio of 1.57. The firm has a market cap of $2.67 billion, a PE ratio of 36.47 and a beta of 1.37. Astronics has a twelve month low of $38.13 and a twelve month high of $94.46.

Analyst Ratings Changes

Several brokerages recently weighed in on ATRO. KeyCorp assumed coverage on Astronics in a research note on Thursday, October 22nd. They issued a “sector weight” rating for the company. TD Cowen reaffirmed a “buy” rating and issued a $90.00 price target (down from $100.00) on shares of Astronics in a report on Friday, October 9th. Weiss Ratings downgraded shares of Astronics from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Zacks Research lowered shares of Astronics from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. Finally, Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.58.

Astronics Company Profile

Astronics Corporation designs and manufactures technologies for the aerospace, defense and other industries. Its aerospace products include aircraft lighting, electrical power generation and distribution systems, cabin electronics, connectivity solutions and avionics-related equipment used on commercial and military aircraft. The company also develops test systems, including automated equipment used to test aerospace and defense electronics. Astronics serves aircraft manufacturers, airlines, defense organizations and other customers, with products and services reaching markets around the world.