Astronics (NASDAQ:ATRO) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Astronics (NASDAQ:ATRO) released its earnings results on Tuesday. The aerospace company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.72 by $0.09, FiscalAI reports. Astronics had a return on equity of 67.69% and a net margin of 8.40%. The firm had revenue of $271.68 million during the quarter, compared to analysts’ expectations of $267.97 million.

Astronics Trading Up 5.1%

NASDAQ:ATRO traded up $3.01 on Tuesday, reaching $62.00. The stock had a trading volume of 823,013 shares, compared to its average volume of 713,798. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 36.47 and a beta of 1.37. The company has a debt-to-equity ratio of 1.57, a current ratio of 2.97 and a quick ratio of 1.63. The firm’s fifty day moving average is $65.63 and its two-hundred day moving average is $67.46. Astronics has a 12-month low of $38.13 and a 12-month high of $94.46.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ATRO shares. KeyCorp began coverage on Astronics in a research report on Thursday, October 22nd. They set a “sector weight” rating on the stock. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Weiss Ratings cut Astronics from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Zacks Research lowered shares of Astronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 7th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $90.00 target price (down from $100.00) on shares of Astronics in a report on Friday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $89.58.

About Astronics

Astronics Corporation designs and manufactures technologies for the aerospace, defense and other industries. Its aerospace products include aircraft lighting, electrical power generation and distribution systems, cabin electronics, connectivity solutions and avionics-related equipment used on commercial and military aircraft. The company also develops test systems, including automated equipment used to test aerospace and defense electronics. Astronics serves aircraft manufacturers, airlines, defense organizations and other customers, with products and services reaching markets around the world.