Astronics (NASDAQ:ATRO) Stock Price Down 3.9%

Astronics Co. (NASDAQ:ATRO)’s stock price fell 3.9% during mid-day trading on Friday . The company traded as low as $19.60 and last traded at $19.61. 11,617 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 140,120 shares. The stock had previously closed at $20.40.

Analyst Ratings Changes

Separately, Truist Financial cut their target price on Astronics from $21.00 to $19.00 and set a “hold” rating on the stock in a research report on Friday, May 3rd.

Astronics Stock Performance

The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.27 and a current ratio of 2.59. The company’s 50 day moving average is $19.41 and its 200-day moving average is $18.23.

Astronics (NASDAQ:ATRO) last issued its earnings results on Thursday, May 2nd. The aerospace company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.14). Astronics had a negative return on equity of 5.93% and a negative net margin of 3.51%. The firm had revenue of $185.07 million during the quarter, compared to the consensus estimate of $172.74 million. During the same quarter in the prior year, the business earned ($0.14) earnings per share. Equities research analysts predict that Astronics Co. will post 0.53 earnings per share for the current fiscal year.

Institutional Trading of Astronics

Several institutional investors have recently made changes to their positions in the company. Bares Capital Management Inc. lifted its holdings in Astronics by 12.8% during the fourth quarter. Bares Capital Management Inc. now owns 814,692 shares of the aerospace company’s stock worth $14,192,000 after acquiring an additional 92,574 shares during the period. Senator Investment Group LP grew its position in Astronics by 7.3% during the first quarter. Senator Investment Group LP now owns 545,754 shares of the aerospace company’s stock valued at $10,391,000 after buying an additional 36,980 shares during the period. BNP Paribas Financial Markets increased its holdings in Astronics by 289.2% during the fourth quarter. BNP Paribas Financial Markets now owns 38,931 shares of the aerospace company’s stock worth $678,000 after buying an additional 28,928 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in Astronics in the fourth quarter worth about $465,000. Finally, Advisors Asset Management Inc. boosted its stake in Astronics by 103.1% in the first quarter. Advisors Asset Management Inc. now owns 47,322 shares of the aerospace company’s stock valued at $901,000 after acquiring an additional 24,027 shares during the last quarter. Institutional investors own 56.68% of the company’s stock.

About Astronics

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.