Astronics Co. (NASDAQ:ATRO) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totalling 746,400 shares, an increase of 6.8% from the December 15th total of 699,200 shares. Currently, 3.3% of the company’s stock are short sold. Based on an average trading volume of 225,600 shares, the days-to-cover ratio is currently 3.3 days.
ATRO has been the topic of several research analyst reports. ValuEngine raised shares of Astronics from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Zacks Investment Research raised shares of Astronics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 8th. Dougherty & Co cut their target price on shares of Astronics from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, BidaskClub lowered shares of Astronics from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 17th. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $37.75.
Several institutional investors have recently added to or reduced their stakes in ATRO. Tower Research Capital LLC TRC lifted its stake in shares of Astronics by 481.7% in the second quarter. Tower Research Capital LLC TRC now owns 733 shares of the aerospace company’s stock valued at $30,000 after buying an additional 607 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Astronics in the second quarter valued at $88,000. Bank of Montreal Can lifted its stake in shares of Astronics by 67.3% in the second quarter. Bank of Montreal Can now owns 2,622 shares of the aerospace company’s stock valued at $105,000 after buying an additional 1,055 shares in the last quarter. First Mercantile Trust Co. bought a new position in shares of Astronics in the third quarter valued at $108,000. Finally, Envestnet Asset Management Inc. bought a new position in shares of Astronics in the second quarter valued at $201,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Astronics stock traded up $0.23 during trading hours on Thursday, reaching $28.84. The company’s stock had a trading volume of 47,125 shares, compared to its average volume of 239,606. Astronics has a one year low of $25.85 and a one year high of $44.34. The company has a market capitalization of $875.22 million, a P/E ratio of 20.45, a P/E/G ratio of 2.09 and a beta of 1.41. The stock’s fifty day simple moving average is $28.74 and its two-hundred day simple moving average is $30.86. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.71 and a current ratio of 2.96.
Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, electronics, and semiconductor industries worldwide. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems; electrical power generation, distribution, and motions systems; aircraft structures; avionics products; system certification; and connectivity and other products.
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