Astronics (NASDAQ:ATRO) Stock Price Up 4.9% - Time to Buy?

Astronics Co. (NASDAQ:ATRO - Get Free Report) shares traded up 4.9% on Friday . The stock traded as high as $20.30 and last traded at $20.30. 17,996 shares traded hands during trading, a decline of 88% from the average session volume of 144,371 shares. The stock had previously closed at $19.35.

Wall Street Analysts Forecast Growth

Separately, Truist Financial boosted their target price on Astronics from $20.00 to $22.00 and gave the stock a "hold" rating in a research report on Friday, August 2nd.

Astronics Stock Performance

The company has a quick ratio of 1.50, a current ratio of 2.92 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $710.78 million, a PE ratio of -26.49 and a beta of 1.82. The firm's 50-day moving average price is $19.81 and its two-hundred day moving average price is $19.53.

Astronics (NASDAQ:ATRO - Get Free Report) last announced its earnings results on Thursday, August 1st. The aerospace company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.13). The firm had revenue of $198.11 million for the quarter, compared to analyst estimates of $191.19 million. Astronics had a negative net margin of 1.57% and a negative return on equity of 0.31%. During the same period last year, the firm earned ($0.37) earnings per share. As a group, research analysts predict that Astronics Co. will post 0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Astronics

Several institutional investors and hedge funds have recently bought and sold shares of ATRO. Point72 Asset Management L.P. acquired a new stake in shares of Astronics during the second quarter worth approximately $25,000. nVerses Capital LLC acquired a new stake in Astronics during the second quarter valued at $28,000. Public Employees Retirement System of Ohio purchased a new position in Astronics in the first quarter valued at about $31,000. Allspring Global Investments Holdings LLC raised its stake in shares of Astronics by 4,973.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,958 shares of the aerospace company's stock worth $219,000 after purchasing an additional 10,742 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Astronics by 10.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,195 shares of the aerospace company's stock valued at $224,000 after buying an additional 1,094 shares during the last quarter. Hedge funds and other 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.