Astronics (NASDAQ:ATRO) Sets New 12-Month High – What’s Next?

Astronics Corporation (NASDAQ:ATRO)’s share price reached a new 52-week high on Wednesday . The company traded as high as $70.45 and last traded at $67.35, with a volume of 1679119 shares trading hands. The stock had previously closed at $69.97.

Analysts Set New Price Targets

ATRO has been the topic of several research analyst reports. Zacks Research downgraded Astronics from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Craig Hallum reaffirmed a “buy” rating on shares of Astronics in a research report on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a research note on Wednesday, October 8th. Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 10th. Finally, Truist Financial set a $75.00 price objective on shares of Astronics in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $66.67.

Astronics Stock Performance

The company has a debt-to-equity ratio of 3.07, a quick ratio of 1.56 and a current ratio of 2.87. The company has a market capitalization of $2.40 billion, a P/E ratio of -748.25 and a beta of 1.10. The business has a 50 day moving average of $53.62 and a 200-day moving average of $44.55.

Astronics (NASDAQ:ATRO) last issued its earnings results on Tuesday, November 4th. The aerospace company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.42 by $0.07. Astronics had a positive return on equity of 29.65% and a negative net margin of 0.37%.The business had revenue of $211.45 million during the quarter, compared to the consensus estimate of $210.80 million. On average, sell-side analysts predict that Astronics Corporation will post 0.82 EPS for the current fiscal year.

Institutional Trading of Astronics

Several institutional investors and hedge funds have recently bought and sold shares of the company. IFP Advisors Inc increased its holdings in shares of Astronics by 389.6% in the third quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 448 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Astronics by 147.6% during the second quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock valued at $30,000 after buying an additional 533 shares during the period. Jones Financial Companies Lllp grew its position in Astronics by 166.7% during the third quarter. Jones Financial Companies Lllp now owns 752 shares of the aerospace company’s stock worth $34,000 after buying an additional 470 shares in the last quarter. US Bancorp DE increased its stake in Astronics by 41.0% in the 3rd quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock worth $44,000 after acquiring an additional 281 shares during the last quarter. Finally, Covestor Ltd raised its holdings in shares of Astronics by 25.4% in the 3rd quarter. Covestor Ltd now owns 1,068 shares of the aerospace company’s stock valued at $49,000 after acquiring an additional 216 shares in the last quarter. 56.68% of the stock is currently owned by hedge funds and other institutional investors.

About Astronics

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.