Astronics (OTCMKTS:ATROB) Shares Gap Up Following Better-Than-Expected Earnings

Shares of Astronics Corp. (OTCMKTS:ATROB) gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $68.55, but opened at $80.00. Astronics shares last traded at $80.00, with a volume of 186 shares traded.

The aerospace company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. Astronics had a return on equity of 39.95% and a net margin of 3.41%.The business had revenue of $230.62 million during the quarter, compared to analysts’ expectations of $225.52 million.

Astronics Trading Up 10.8%

The company has a fifty day simple moving average of $70.00 and a two-hundred day simple moving average of $64.35. The company has a quick ratio of 1.71, a current ratio of 3.10 and a debt-to-equity ratio of 2.39. The stock has a market capitalization of $2.86 billion, a P/E ratio of 103.90 and a beta of 1.04.

About Astronics

Astronics Corporation is a global provider of advanced technology solutions to the aerospace, defense and other high-reliability industries. Headquartered in East Aurora, New York, the company was founded in 1968 and has grown through both organic innovation and targeted acquisitions. Astronics delivers mission-critical products that enhance aircraft safety, passenger comfort and operational efficiency for major airframers, airlines and defense contractors worldwide.

The company’s product portfolio spans several key areas, including electrical power generation and management systems, LED cabin lighting and safety systems, connectivity and data solutions, and automated test equipment.