Astronics (NASDAQ:ATRO) Hits New 1-Year High – What’s Next?

Astronics Corporation (NASDAQ:ATROGet Free Report)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $94.95 and last traded at $94.80, with a volume of 1293047 shares traded. The stock had previously closed at $82.34.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a report on Monday, April 20th. Zacks Research cut Astronics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. Truist Financial upgraded shares of Astronics to a “strong-buy” rating in a report on Monday, May 4th. Finally, TD Cowen upped their price objective on shares of Astronics from $85.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $89.00.

View Our Latest Research Report on ATRO

Astronics Stock Performance

The stock has a market cap of $3.40 billion, a P/E ratio of 80.34 and a beta of 1.15. The company has a fifty day moving average price of $78.21 and a 200 day moving average price of $70.64. The company has a debt-to-equity ratio of 2.07, a current ratio of 2.97 and a quick ratio of 1.63.

Astronics’s stock is going to split before the market opens on Monday, June 15th. The 6-5 split was recently announced. The newly issued shares will be issued to shareholders after the market closes on Sunday, June 14th.

Astronics (NASDAQ:ATROGet Free Report) last released its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.55 by $0.04. The firm had revenue of $230.62 million during the quarter, compared to the consensus estimate of $225.52 million. Astronics had a return on equity of 49.34% and a net margin of 5.12%.The company’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.44 earnings per share. On average, equities analysts expect that Astronics Corporation will post 2.68 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC grew its holdings in shares of Astronics by 5.2% during the first quarter. NewEdge Advisors LLC now owns 19,276 shares of the aerospace company’s stock valued at $1,286,000 after buying an additional 945 shares during the last quarter. Optiver Holding B.V. grew its holdings in shares of Astronics by 3,921.4% during the first quarter. Optiver Holding B.V. now owns 563 shares of the aerospace company’s stock valued at $38,000 after buying an additional 549 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Astronics by 81.9% during the first quarter. Bank of America Corp DE now owns 199,722 shares of the aerospace company’s stock valued at $13,327,000 after buying an additional 89,950 shares during the last quarter. RBF Capital LLC acquired a new position in shares of Astronics during the first quarter valued at about $6,698,000. Finally, Sunbelt Securities Inc. grew its holdings in shares of Astronics by 8,950.0% during the first quarter. Sunbelt Securities Inc. now owns 1,086 shares of the aerospace company’s stock valued at $72,000 after buying an additional 1,074 shares during the last quarter. 56.68% of the stock is currently owned by institutional investors and hedge funds.

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.

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