Astronics (NASDAQ:ATRO) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Astronics (NASDAQ:ATROGet Free Report) announced its earnings results on Tuesday. The aerospace company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.04, FiscalAI reports. The business had revenue of $230.62 million during the quarter, compared to analysts’ expectations of $225.52 million. Astronics had a return on equity of 39.95% and a net margin of 3.41%.

Astronics Stock Up 3.3%

Shares of NASDAQ ATRO traded up $2.47 during mid-day trading on Tuesday, reaching $78.26. The company had a trading volume of 899,413 shares, compared to its average volume of 648,897. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.71 and a current ratio of 3.10. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of 101.64 and a beta of 1.10. The stock has a fifty day moving average of $72.21 and a two-hundred day moving average of $65.02. Astronics has a 12-month low of $27.27 and a 12-month high of $83.96.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ATRO. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research report on Monday, April 20th. Truist Financial upgraded shares of Astronics to a “strong-buy” rating in a research report on Monday, May 4th. Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 28th. Finally, Zacks Research raised Astronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Three analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Astronics presently has a consensus rating of “Buy” and an average price target of $77.33.

Check Out Our Latest Analysis on ATRO

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Quarry LP lifted its position in Astronics by 33.6% in the 4th 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. US Bancorp DE grew its holdings in shares of Astronics by 41.0% during the 3rd quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock valued at $44,000 after acquiring an additional 281 shares in the last quarter. WINTON GROUP Ltd grew its holdings in shares of Astronics by 4.6% during the 3rd quarter. WINTON GROUP Ltd now owns 8,644 shares of the aerospace company’s stock valued at $394,000 after acquiring an additional 383 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of Astronics by 2.3% in the second quarter. Captrust Financial Advisors now owns 19,220 shares of the aerospace company’s stock worth $643,000 after acquiring an additional 435 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Astronics by 0.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 49,350 shares of the aerospace company’s stock worth $2,677,000 after acquiring an additional 441 shares in the last quarter. Institutional investors and hedge funds own 56.68% of the company’s stock.

Astronics Company Profile

(Get Free Report)

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.

See Also

Earnings History for Astronics (NASDAQ:ATRO)

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