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

Astronics Corporation (NASDAQ:ATRO - Get Free Report)'s share price reached a new 52-week high during trading on Saturday . The stock traded as high as $36.48 and last traded at $36.11, with a volume of 1627950 shares changing hands. The stock had previously closed at $31.09.

Analyst Upgrades and Downgrades

ATRO has been the subject of several recent research reports. Truist Financial raised Astronics from a "hold" rating to a "buy" rating and set a $49.00 price target for the company in a report on Friday. Wall Street Zen cut Astronics from a "strong-buy" rating to a "buy" rating in a report on Wednesday, May 21st.

Astronics Stock Performance

The company has a current ratio of 2.74, a quick ratio of 1.49 and a debt-to-equity ratio of 0.60. The stock has a fifty day moving average price of $31.65 and a 200-day moving average price of $24.29. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -300.89 and a beta of 1.55.

Astronics (NASDAQ:ATRO - Get Free Report) last issued its earnings results on Tuesday, May 6th. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.19. Astronics had a positive return on equity of 18.45% and a negative net margin of 0.43%. The business had revenue of $205.94 million during the quarter, compared to analysts' expectations of $192.53 million. As a group, analysts anticipate that Astronics Corporation will post 0.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Astronics

A number of hedge funds have recently modified their holdings of ATRO. Signaturefd LLC raised its position in Astronics by 88.5% in the 1st quarter. Signaturefd LLC now owns 1,446 shares of the aerospace company's stock valued at $35,000 after purchasing an additional 679 shares during the last quarter. CWM LLC increased its stake in shares of Astronics by 192.2% in the first quarter. CWM LLC now owns 2,592 shares of the aerospace company's stock valued at $63,000 after buying an additional 1,705 shares in the last quarter. AlphaQuest LLC raised its holdings in shares of Astronics by 355.5% in the fourth quarter. AlphaQuest LLC now owns 3,576 shares of the aerospace company's stock valued at $57,000 after buying an additional 2,791 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in Astronics by 167.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 4,156 shares of the aerospace company's stock worth $66,000 after buying an additional 2,600 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Astronics during the 4th quarter worth about $73,000. 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.

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