Astronics (NASDAQ:ATRO) Reaches New 12-Month High - Still a Buy?

Key Points

• Astronics Corporation (NASDAQ:ATRO) reached a new 52-week high of $46.75 during trading, closing at $45.78, reflecting notable investor interest with a trading volume of 188,742 shares.
• Wall Street analysts provided mixed ratings on the stock, with Truist Financial upgrading it to a buy rating and setting a price target of $49, while Wall Street Zen downgraded it to hold.
• Despite a negative net margin of 0.45%, Astronics reported earnings of $0.38 per share for the latest quarter, surpassing analyst expectations, contributing to a current average rating of "Strong Buy" for the stock.

Astronics Corporation (NASDAQ:ATRO - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $46.75 and last traded at $45.78, with a volume of 188742 shares traded. The stock had previously closed at $45.61.

Wall Street Analyst Weigh In

ATRO has been the topic of a number of research reports. Truist Financial upgraded Astronics from a "hold" rating to a "buy" rating and set a $49.00 price target on the stock in a report on Friday, July 11th. Zacks Research upgraded Astronics to a "strong-buy" rating in a report on Friday, August 8th. Finally, Wall Street Zen cut Astronics from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Strong Buy" and a consensus price target of $49.00.

Astronics Price Performance

The company has a fifty day simple moving average of $37.38 and a 200-day simple moving average of $31.63. The company has a market cap of $1.61 billion, a P/E ratio of -378.89 and a beta of 1.69. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.04 and a quick ratio of 1.63.

Astronics (NASDAQ:ATRO - Get Free Report) last announced its earnings results on Wednesday, August 6th. The aerospace company reported $0.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.05. The company had revenue of $204.68 million for the quarter, compared to analyst estimates of $208.29 million. Astronics had a positive return on equity of 22.89% and a negative net margin of 0.45%. On average, sell-side analysts predict that Astronics Corporation will post 0.82 earnings per share for the current year.

Insider Transactions at Astronics

In other Astronics news, insider James Mulato sold 1,129 shares of the business's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $38.16, for a total transaction of $43,082.64. Following the sale, the insider directly owned 1,066 shares of the company's stock, valued at $40,678.56. The trade was a 51.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 10.83% of the stock is currently owned by company insiders.

Institutional Trading of Astronics

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Astronics by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 1,601,632 shares of the aerospace company's stock valued at $38,711,000 after purchasing an additional 27,025 shares during the period. Millennium Management LLC grew its holdings in shares of Astronics by 80.1% during the 1st quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company's stock valued at $18,054,000 after acquiring an additional 332,133 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Astronics by 3.1% during the 2nd quarter. Geode Capital Management LLC now owns 736,327 shares of the aerospace company's stock valued at $24,655,000 after acquiring an additional 22,134 shares in the last quarter. Senator Investment Group LP grew its holdings in shares of Astronics by 7.6% during the 1st quarter. Senator Investment Group LP now owns 708,883 shares of the aerospace company's stock valued at $17,134,000 after acquiring an additional 50,000 shares in the last quarter. Finally, Earnest Partners LLC purchased a new position in shares of Astronics during the 1st quarter valued at $12,774,000. 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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