Astronics (NASDAQ:ATRO) Reaches New 12-Month High - Time to Buy?

Astronics Co. (NASDAQ:ATRO - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $31.77 and last traded at $31.72, with a volume of 350687 shares changing hands. The stock had previously closed at $30.19.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Truist Financial dropped their price objective on Astronics from $23.00 to $21.00 and set a "hold" rating for the company in a report on Thursday, April 17th. Wall Street Zen lowered shares of Astronics from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, May 21st.

Astronics Stock Performance

The company has a market capitalization of $1.11 billion, a PE ratio of -164.57 and a beta of 1.44. The company has a current ratio of 2.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.72. The firm's 50-day simple moving average is $25.35 and its 200-day simple moving average is $20.83.

Astronics (NASDAQ:ATRO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.19. The firm had revenue of $205.94 million during the quarter, compared to analyst estimates of $192.53 million. Astronics had a positive return on equity of 6.94% and a negative net margin of 0.82%. On average, research analysts predict that Astronics Co. will post 0.82 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Robert S. Keane sold 77,099 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $24.55, for a total value of $1,892,780.45. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 9.39% of the company's stock.

Institutional Trading of Astronics

A number of hedge funds have recently added to or reduced their stakes in ATRO. Vanguard Group Inc. lifted its position in shares of Astronics by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 1,601,632 shares of the aerospace company's stock worth $38,711,000 after purchasing an additional 27,025 shares during the period. Royce & Associates LP lifted its holdings in Astronics by 18.7% during the fourth quarter. Royce & Associates LP now owns 1,150,355 shares of the aerospace company's stock worth $18,360,000 after buying an additional 181,619 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Astronics by 6.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 998,506 shares of the aerospace company's stock worth $15,936,000 after buying an additional 58,149 shares during the period. Schonfeld Strategic Advisors LLC lifted its holdings in Astronics by 58.7% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 881,504 shares of the aerospace company's stock worth $14,069,000 after buying an additional 325,904 shares during the period. Finally, Millennium Management LLC lifted its holdings in Astronics by 80.1% during the first quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company's stock worth $18,054,000 after buying an additional 332,133 shares during the period. 56.68% of the stock is owned by hedge funds and other institutional investors.

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.