Shares of Astronics Co. (NASDAQ:ATRO - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 184,970 shares traded hands during mid-day trading, a decline of 25% from the previous session's volume of 245,981 shares.The stock last traded at $24.80 and had previously closed at $25.08.
Wall Street Analyst Weigh In
A number of research firms recently commented on ATRO. Truist Financial upped their price target on shares of Astronics from $17.00 to $23.00 and gave the company a "hold" rating in a report on Wednesday, March 5th. StockNews.com raised Astronics from a "hold" rating to a "buy" rating in a research note on Thursday, March 6th.
Read Our Latest Report on Astronics
Astronics Price Performance
The company has a market cap of $930.75 million, a PE ratio of -138.89 and a beta of 1.74. The business has a 50 day moving average of $19.96 and a 200 day moving average of $18.58. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46.
Astronics (NASDAQ:ATRO - Get Free Report) last announced its earnings results on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share 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 analyst estimates of $194.91 million. During the same quarter in the previous year, the firm posted $0.35 EPS. As a group, research analysts predict that Astronics Co. will post 0.82 EPS for the current year.
Insiders Place Their Bets
In related news, Director Robert S. Keane sold 77,099 shares of Astronics stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $24.55, for a total transaction of $1,892,780.45. Following the sale, the director now directly owns 6,346 shares in the company, valued at $155,794.30. The trade was a 92.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 10.86% of the company's stock.
Hedge Funds Weigh In On Astronics
Several institutional investors and hedge funds have recently added to or reduced their stakes in ATRO. Advisors Asset Management Inc. increased its stake in shares of Astronics by 32.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 84,181 shares of the aerospace company's stock worth $1,640,000 after acquiring an additional 20,514 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Astronics by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 81,169 shares of the aerospace company's stock worth $1,581,000 after purchasing an additional 1,432 shares during the period. Algert Global LLC increased its stake in shares of 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 purchasing an additional 44,070 shares in the last quarter. FMR LLC lifted its holdings in shares of 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 purchasing an additional 8,670 shares during the last quarter. Finally, Verition Fund Management LLC boosted its position in shares of Astronics by 92.7% in the 3rd quarter. Verition Fund Management LLC now owns 20,700 shares of the aerospace company's stock worth $403,000 after purchasing an additional 9,956 shares in the last quarter. Hedge funds and other institutional investors own 56.68% of the company's stock.
About Astronics
(
Get Free Report)
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.
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