Astronics (NASDAQ:ATRO) Sets New 1-Year High - Time to Buy?

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

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Truist Financial increased their price target on Astronics from $17.00 to $23.00 and gave the company a "hold" rating in a research note on Wednesday, March 5th. StockNews.com raised shares of Astronics from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th.

Astronics Stock Down 1.8 %

The firm has a market capitalization of $917.35 million, a price-to-earnings ratio of -136.89 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. The company's 50 day moving average price is $20.37 and its 200 day moving average price is $18.68.

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

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Insider Buying and Selling at Astronics

In related news, Director Robert S. Keane sold 77,099 shares of the firm's 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 completion of the transaction, the director now owns 6,346 shares of the company's stock, valued at $155,794.30. This trade represents a 92.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 10.86% of the company's stock.

Institutional Investors Weigh In On Astronics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATRO. Royce & Associates LP lifted its holdings in shares of Astronics by 18.7% in the 4th quarter. Royce & Associates LP now owns 1,150,355 shares of the aerospace company's stock valued at $18,360,000 after buying an additional 181,619 shares during the period. Dimensional Fund Advisors LP raised its position in Astronics by 6.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 998,506 shares of the aerospace company's stock valued at $15,936,000 after acquiring an additional 58,149 shares in the last quarter. State Street Corp lifted its holdings in Astronics by 6.7% in the third quarter. State Street Corp now owns 924,070 shares of the aerospace company's stock valued at $18,001,000 after acquiring an additional 58,356 shares during the period. Schonfeld Strategic Advisors LLC boosted its position in Astronics by 58.7% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 881,504 shares of the aerospace company's stock worth $14,069,000 after purchasing an additional 325,904 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Astronics by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 691,522 shares of the aerospace company's stock worth $13,474,000 after purchasing an additional 13,469 shares during the period. 56.68% of the stock is owned by institutional investors and hedge funds.

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.