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

Astronics Corporation (NASDAQ:ATRO - Get Free Report) shares hit 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 traded. The stock had previously closed at $31.09.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ATRO. Wall Street Zen cut shares of Astronics from a "strong-buy" rating to a "buy" rating in a report on Wednesday, May 21st. Truist Financial raised shares of Astronics from a "hold" rating to a "buy" rating and set a $49.00 price target for the company in a research note on Friday.

Astronics Trading Down 1.4%

The company has a quick ratio of 1.49, a current ratio of 2.74 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $1.25 billion, a P/E ratio of -294.06 and a beta of 1.55. The firm's 50 day simple moving average is $31.65 and its two-hundred day simple moving average is $24.40.

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 the consensus estimate of $0.25 by $0.19. The company had revenue of $205.94 million during the quarter, compared to the consensus estimate of $192.53 million. Astronics had a negative net margin of 0.43% and a positive return on equity of 18.45%. As a group, analysts forecast that Astronics Corporation will post 0.82 earnings per share for the current fiscal year.

Institutional Trading of Astronics

A number of institutional investors have recently modified their holdings of ATRO. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Astronics in the 4th quarter worth $776,000. Assenagon Asset Management S.A. increased its holdings in shares of Astronics by 224.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 128,757 shares of the aerospace company's stock worth $3,112,000 after buying an additional 89,033 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Astronics by 368.6% during the 4th quarter. Point72 Asset Management L.P. now owns 25,100 shares of the aerospace company's stock valued at $401,000 after purchasing an additional 19,744 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Astronics by 10.8% during the 4th quarter. Deutsche Bank AG now owns 90,509 shares of the aerospace company's stock valued at $1,445,000 after purchasing an additional 8,859 shares during the last quarter. Finally, Royce & Associates LP grew its holdings in shares of Astronics by 18.7% during the 4th quarter. Royce & Associates LP now owns 1,150,355 shares of the aerospace company's stock valued at $18,360,000 after purchasing an additional 181,619 shares during the last quarter. 56.68% of the stock is currently owned by hedge funds and other institutional investors.

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.