Astronics (NASDAQ:ATRO) Sets New 52-Week High – Here’s What Happened

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 changing hands. The stock had previously closed at $25.35.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ATRO shares. StockNews.com raised shares of Astronics from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Truist Financial raised their target price on Astronics from $17.00 to $23.00 and gave the stock a “hold” rating in a research note on Wednesday, March 5th.

Astronics Stock Performance

The business has a fifty day moving average of $20.37 and a 200 day moving average of $18.68. The company has a market cap of $934.63 million, a P/E ratio of -139.47 and a beta of 1.74. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72.

Astronics (NASDAQ:ATRO) last posted its earnings results on Tuesday, March 4th. The aerospace company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.21 by $0.27. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. The firm had revenue of $208.54 million during the quarter, compared to analysts’ expectations of $194.91 million. During the same period last year, the company posted $0.35 EPS. On average, equities analysts predict that Astronics Co. will post 0.82 EPS for the current year.

Insiders Place Their Bets

In related news, Director Robert S. Keane sold 77,099 shares of Astronics stock in a transaction that occurred 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 sale, the director now directly owns 6,346 shares in the company, valued at $155,794.30. The trade was a 92.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 10.86% of the company’s stock.

Hedge Funds Weigh In On Astronics

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATRO. Barclays PLC increased its stake in shares of Astronics by 328.2% in the 3rd quarter. Barclays PLC now owns 45,313 shares of the aerospace company’s stock worth $883,000 after acquiring an additional 34,730 shares in the last quarter. Algert Global LLC increased its stake in shares of Astronics by 367.2% during the third quarter. Algert Global LLC now owns 56,072 shares of the aerospace company’s stock valued at $1,092,000 after purchasing an additional 44,070 shares in the last quarter. Ironwood Investment Management LLC purchased a new position in shares of Astronics during the fourth quarter valued at approximately $439,000. Royce & Associates LP boosted its position in shares of Astronics by 18.7% in the 4th quarter. Royce & Associates LP now owns 1,150,355 shares of the aerospace company’s stock worth $18,360,000 after purchasing an additional 181,619 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Astronics in the 4th quarter worth approximately $776,000. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Astronics Company Profile

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.