Shares of Astronics Corporation (NASDAQ:ATRO – Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $84.81 and last traded at $85.6950, with a volume of 23703 shares. The stock had previously closed at $82.70.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the stock. Wall Street Zen raised shares of Astronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 21st. Truist Financial raised shares of Astronics to a “strong-buy” rating in a research report on Monday, May 4th. Zacks Research lowered shares of Astronics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. TD Cowen upped their target price on Astronics from $70.83 to $83.33 and gave the company a “buy” rating in a research report on Thursday, May 28th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research note on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $74.17.
Read Our Latest Analysis on ATRO
Astronics Price Performance
Astronics (NASDAQ:ATRO – Get Free Report) last issued its earnings results on Tuesday, May 12th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The firm had revenue of $230.62 million during the quarter, compared to analysts’ expectations of $225.52 million. During the same quarter last year, the company posted $0.37 earnings per share. The firm’s revenue was up 12.0% compared to the same quarter last year. As a group, equities analysts forecast that Astronics Corporation will post 2.23 earnings per share for the current year.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of ATRO. IFP Advisors Inc increased its holdings in shares of Astronics by 389.6% during the 3rd quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 448 shares in the last quarter. Allworth Financial LP boosted its stake in shares of 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 in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Astronics by 147.6% during 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 during the period. Quarry LP increased its stake in shares of 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 purchasing an additional 143 shares in the last quarter. Finally, Leonteq Securities AG acquired a new position in Astronics in the 4th quarter worth about $33,000. 56.68% of the stock is owned by institutional investors and hedge funds.
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.
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