Astronics (NASDAQ:ATRO) Hits New 12-Month High - Here's What Happened

Shares of Astronics Co. (NASDAQ:ATRO - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $33.75 and last traded at $33.29, with a volume of 80843 shares traded. The stock had previously closed at $33.44.

Analyst Upgrades and Downgrades

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

Astronics Stock Down 0.3%

The company's fifty day simple moving average is $26.26 and its 200 day simple moving average is $21.52. The firm has a market capitalization of $1.17 billion, a PE ratio of -173.83 and a beta of 1.56. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72.

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

Institutional Investors Weigh In On Astronics

A number of hedge funds have recently modified their holdings of ATRO. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Astronics in the 4th quarter worth $776,000. Point72 Asset Management L.P. lifted its stake in Astronics by 368.6% in the 4th quarter. Point72 Asset Management L.P. now owns 25,100 shares of the aerospace company's stock worth $401,000 after purchasing an additional 19,744 shares in the last quarter. Deutsche Bank AG lifted its stake in Astronics by 10.8% in the 4th quarter. Deutsche Bank AG now owns 90,509 shares of the aerospace company's stock worth $1,445,000 after purchasing an additional 8,859 shares in the last quarter. Royce & Associates LP lifted its stake in Astronics by 18.7% in the 4th quarter. Royce & Associates LP now owns 1,150,355 shares of the aerospace company's stock worth $18,360,000 after purchasing an additional 181,619 shares in the last quarter. Finally, Ironwood Investment Management LLC purchased a new stake in Astronics in the 4th quarter worth $439,000. Institutional investors 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.