Astronics (NASDAQ:ATRO) Reaches New 12-Month High - Still a Buy?

Astronics Co. (NASDAQ:ATRO - Get Free Report)'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. The stock had previously closed at $25.35.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ATRO. StockNews.com upgraded shares of Astronics from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. Truist Financial upped their target price on 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 company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46. The stock's 50-day moving average price is $20.73 and its 200-day moving average price is $18.77. The company has a market cap of $869.95 million, a P/E ratio of -129.49 and a beta of 1.74.

Astronics (NASDAQ:ATRO - Get Free Report) last announced its earnings results on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.27. The firm had revenue of $208.54 million for the quarter, compared to analyst estimates of $194.91 million. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. During the same quarter in the prior year, the business posted $0.35 EPS. Equities analysts anticipate that Astronics Co. will post 0.82 EPS for the current year.

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Insiders Place Their Bets

In related news, Director Robert S. Keane sold 77,099 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $24.55, for a total transaction of $1,892,780.45. Following the transaction, the director now directly owns 6,346 shares of the company's stock, valued at $155,794.30. This represents a 92.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 10.86% of the company's stock.

Hedge Funds Weigh In On Astronics

Several institutional investors have recently made changes to their positions in the stock. AlphaQuest LLC boosted its holdings in Astronics by 355.5% in the fourth quarter. AlphaQuest LLC now owns 3,576 shares of the aerospace company's stock worth $57,000 after acquiring an additional 2,791 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in Astronics by 167.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 4,156 shares of the aerospace company's stock worth $66,000 after buying an additional 2,600 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Astronics during the fourth quarter valued at about $73,000. Point72 Asset Management L.P. raised its position in Astronics by 337.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 5,356 shares of the aerospace company's stock valued at $104,000 after buying an additional 4,133 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Astronics in the 3rd quarter worth approximately $106,000. Institutional investors and hedge funds 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.