Astronics (NASDAQ:ATRO) Reaches New 12-Month High - What's Next?

Shares of Astronics Co. (NASDAQ:ATRO - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $32.01 and last traded at $31.61, with a volume of 141496 shares trading hands. The stock had previously closed at $31.22.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Truist Financial dropped their target price on shares of Astronics from $23.00 to $21.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th. Wall Street Zen lowered Astronics from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, May 21st.

Astronics Price Performance

The business's fifty day moving average is $25.75 and its 200 day moving average is $21.12. The company has a market cap of $1.14 billion, a P/E ratio of -168.99 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.

Astronics (NASDAQ:ATRO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The aerospace company reported $0.44 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $205.94 million for the quarter, compared to analysts' expectations of $192.53 million. As a group, sell-side analysts anticipate that Astronics Co. will post 0.82 EPS for the current year.

Insiders Place Their Bets

In other news, Director Robert S. Keane sold 77,099 shares of the firm'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 approximately $155,794.30. This trade represents a 92.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 9.39% of the company's stock.

Institutional Investors Weigh In On Astronics

Several institutional investors and hedge funds have recently made changes to their positions in ATRO. Jane Street Group LLC increased its position in Astronics by 579.4% during the first quarter. Jane Street Group LLC now owns 230,492 shares of the aerospace company's stock valued at $5,571,000 after acquiring an additional 196,568 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Astronics by 22.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,791 shares of the aerospace company's stock valued at $1,735,000 after buying an additional 13,104 shares during the period. Goldman Sachs Group Inc. increased its holdings in Astronics by 26.1% during the first quarter. Goldman Sachs Group Inc. now owns 222,486 shares of the aerospace company's stock valued at $5,377,000 after buying an additional 46,054 shares during the last quarter. Millennium Management LLC raised its position in Astronics by 80.1% in the first quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company's stock worth $18,054,000 after acquiring an additional 332,133 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Astronics by 6.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,491 shares of the aerospace company's stock worth $423,000 after acquiring an additional 1,069 shares during the last quarter. 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.