Astronics (NASDAQ:ATRO) Sets New 52-Week High – Should You Buy?

Astronics Corporation (NASDAQ:ATRO) shares reached a new 52-week high on Wednesday . The company traded as high as $76.14 and last traded at $75.5650, with a volume of 553049 shares trading hands. The stock had previously closed at $74.17.

Analyst Ratings Changes

ATRO has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research note on Wednesday, October 8th. Zacks Research lowered shares of Astronics from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. TD Cowen began coverage on shares of Astronics in a research report on Wednesday, November 26th. They set a “buy” rating on the stock. CJS Securities upgraded shares of Astronics to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Wall Street Zen raised shares of Astronics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Astronics currently has an average rating of “Moderate Buy” and an average target price of $66.67.

Astronics Trading Up 2.5%

The company has a quick ratio of 1.56, a current ratio of 2.87 and a debt-to-equity ratio of 3.07. The stock’s 50 day moving average is $56.23 and its 200-day moving average is $45.97. The company has a market cap of $2.71 billion, a PE ratio of -844.68 and a beta of 1.10.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings results on Tuesday, November 4th. The aerospace company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07. Astronics had a negative net margin of 0.37% and a positive return on equity of 29.65%. The firm had revenue of $211.45 million during the quarter, compared to the consensus estimate of $210.80 million. As a group, sell-side analysts anticipate that Astronics Corporation will post 0.82 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Astronics by 5.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,936,166 shares of the aerospace company’s stock valued at $88,309,000 after purchasing an additional 105,311 shares during the last quarter. Capital International Investors bought a new position in shares of Astronics during the third quarter valued at approximately $64,173,000. Luxor Capital Group LP purchased a new stake in shares of Astronics in the third quarter worth approximately $52,698,000. Millennium Management LLC raised its holdings in shares of Astronics by 80.1% in the first quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock worth $18,054,000 after buying an additional 332,133 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Astronics by 3.1% during the 2nd quarter. Geode Capital Management LLC now owns 736,327 shares of the aerospace company’s stock worth $24,655,000 after acquiring an additional 22,134 shares during the last quarter. 56.68% of the stock is owned by hedge funds and other institutional investors.

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.