Astronics (NASDAQ:ATRO) Hits New 1-Year High – Here’s Why

Astronics Co. (NASDAQ:ATRO)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $26.16 and last traded at $25.84, with a volume of 95561 shares trading hands. The stock had previously closed at $25.35.

Analysts Set New Price Targets

A number of research firms have commented on ATRO. StockNews.com upgraded Astronics from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Truist Financial boosted their price objective on Astronics from $17.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, March 5th.

Astronics Price Performance

The company has a current ratio of 2.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.72. The stock has a market cap of $933.39 million, a PE ratio of -139.28 and a beta of 1.74. The company has a fifty day moving average of $19.96 and a 200-day moving average of $18.58.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.27. Astronics had a positive return on equity of 6.94% and a negative net margin of 0.82%. The firm had revenue of $208.54 million for the quarter, compared to the consensus estimate of $194.91 million. During the same quarter in the previous year, the business earned $0.35 EPS. Sell-side analysts expect that Astronics Co. will post 0.82 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Robert S. Keane sold 77,099 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $24.55, for a total transaction of $1,892,780.45. Following the completion of the transaction, the director now directly owns 6,346 shares of the company’s stock, valued at $155,794.30. The trade was a 92.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 10.86% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. AlphaQuest LLC increased its holdings in shares of Astronics by 355.5% in the 4th quarter. AlphaQuest LLC now owns 3,576 shares of the aerospace company’s stock valued at $57,000 after acquiring an additional 2,791 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Astronics by 167.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 4,156 shares of the aerospace company’s stock valued at $66,000 after acquiring an additional 2,600 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Astronics in the 4th quarter valued at about $73,000. Point72 Asset Management L.P. increased its holdings in shares of Astronics by 337.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 5,356 shares of the aerospace company’s stock valued at $104,000 after acquiring an additional 4,133 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Astronics in the 3rd quarter valued at about $106,000. 56.68% of the stock is owned by institutional investors and hedge funds.

About Astronics

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.