Astronics (NASDAQ:ATRO) Stock Price Down 3.9% – Should You Sell?

Astronics Corporation (NASDAQ:ATRO) shares dropped 3.9% during trading on Tuesday. The stock traded as low as $59.02 and last traded at $59.9180. 266,026 shares changed hands during trading, a decline of 63% from the average daily volume of 724,077 shares. The stock had previously closed at $62.33.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ATRO. TD Cowen restated a “buy” rating and set a $90.00 price objective (down from $100.00) on shares of Astronics in a research note on Friday, October 9th. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Zacks Research lowered Astronics from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. Finally, Weiss Ratings cut Astronics from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $89.58.

Astronics Stock Performance

The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 35.03 and a beta of 1.25. The stock has a 50-day moving average price of $72.29 and a 200-day moving average price of $70.43. The company has a debt-to-equity ratio of 1.57, a current ratio of 2.97 and a quick ratio of 1.63.

Astronics (NASDAQ:ATRO) last posted its earnings results on Tuesday, August 11th. The aerospace company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.11. Astronics had a return on equity of 67.69% and a net margin of 8.40%. The business had revenue of $259.96 million for the quarter, compared to analyst estimates of $245.30 million. Astronics’s revenue was up 46.9% compared to the same quarter last year. As a group, analysts forecast that Astronics Corporation will post 2.72 earnings per share for the current year.

Hedge Funds Weigh In On Astronics

Large investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Astronics during the 2nd quarter worth $248,395,000. Dimensional Fund Advisors LP raised its stake in Astronics by 5.3% in the first quarter. Dimensional Fund Advisors LP now owns 673,760 shares of the aerospace company’s stock valued at $44,951,000 after purchasing an additional 34,018 shares in the last quarter. Emerald Advisers LLC raised its stake in Astronics by 85.0% in the first quarter. Emerald Advisers LLC now owns 449,126 shares of the aerospace company’s stock valued at $29,970,000 after purchasing an additional 206,399 shares in the last quarter. Emerald Mutual Fund Advisers Trust lifted its position in Astronics by 78.1% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 279,159 shares of the aerospace company’s stock worth $18,628,000 after purchasing an additional 122,440 shares during the period. Finally, First Trust Advisors LP lifted its position in Astronics by 4.1% during the first quarter. First Trust Advisors LP now owns 253,492 shares of the aerospace company’s stock worth $16,916,000 after purchasing an additional 10,014 shares during the period. 56.68% of the stock is owned by institutional investors.

Astronics Company Profile

Astronics Corporation is a aerospace and defense company that designs and manufactures advanced technologies for commercial, military and business aircraft. Its products and systems are used by original equipment manufacturers, airlines, aircraft operators and defense contractors.

The company’s offerings include aircraft electrical power systems, lighting and cabin-management systems, connectivity and inflight entertainment equipment, avionics and specialized aerospace components. Astronics also develops automated test systems and related equipment used to test and support electronic systems in the aerospace, defense and other high-technology industries.

Founded in 1968 and headquartered in East Aurora, New York, Astronics serves customers in the United States and international markets through its manufacturing and engineering operations.