Astronics (NASDAQ:ATRO) Hits New 1-Year High – Should You Buy?

Astronics Co. (NASDAQ:ATRO)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $26.16 and last traded at $25.84, with a volume of 95561 shares traded. The stock had previously closed at $25.35.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. StockNews.com raised shares of Astronics from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Truist Financial raised their price target on shares of Astronics from $17.00 to $23.00 and gave the company a “hold” rating in a research report on Wednesday, March 5th.

Astronics Stock Performance

The business has a fifty day moving average price of $20.37 and a 200-day moving average price of $18.68. The stock has a market capitalization 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 announced its quarterly earnings results on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $194.91 million. During the same quarter last year, the firm posted $0.35 EPS. On average, sell-side analysts expect that Astronics Co. will post 0.82 EPS for the current year.

Insiders Place Their Bets

In other news, Director Robert S. Keane sold 77,099 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $24.55, for a total value of $1,892,780.45. Following the transaction, the director now directly owns 6,346 shares in the company, valued at $155,794.30. This trade represents a 92.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 10.86% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in shares of Astronics by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 81,169 shares of the aerospace company’s stock valued at $1,581,000 after purchasing an additional 1,432 shares during the last quarter. Algert Global LLC grew its position in 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 buying an additional 44,070 shares during the period. FMR LLC increased its holdings in Astronics by 22.9% during the third quarter. FMR LLC now owns 46,597 shares of the aerospace company’s stock valued at $908,000 after buying an additional 8,670 shares during the last quarter. Verition Fund Management LLC raised its position in Astronics by 92.7% in the third quarter. Verition Fund Management LLC now owns 20,700 shares of the aerospace company’s stock worth $403,000 after acquiring an additional 9,956 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Astronics during the 3rd quarter worth $106,000. 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.