Astronics (NASDAQ:ATRO) Sets New 52-Week High - Here's Why

Astronics Co. (NASDAQ:ATRO - Get Free Report) shares reached a new 52-week high on Tuesday . The stock traded as high as $29.22 and last traded at $29.19, with a volume of 660048 shares traded. The stock had previously closed at $27.52.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ATRO shares. StockNews.com raised shares of Astronics from a "buy" rating to a "strong-buy" rating in a research report on Friday. Truist Financial reduced their target price on Astronics from $23.00 to $21.00 and set a "hold" rating on the stock in a report on Thursday, April 17th.

Astronics Trading Up 6.1%

The company has a current ratio of 2.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $1.03 billion, a P/E ratio of -153.62 and a beta of 1.44. The business has a 50 day moving average of $23.78 and a 200-day moving average of $19.62.

Astronics (NASDAQ:ATRO - Get Free Report) last released its quarterly earnings results 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 company had revenue of $205.94 million during the quarter, compared to analysts' expectations of $192.53 million. Analysts anticipate that Astronics Co. will post 0.82 EPS for the current fiscal year.

Insider Buying and Selling

In other Astronics news, Director Robert S. Keane sold 77,099 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $24.55, for a total value of $1,892,780.45. Following the sale, the director now owns 6,346 shares in the company, valued at approximately $155,794.30. The trade was a 92.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 9.39% of the stock is owned by corporate insiders.

Institutional Trading of Astronics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC grew its position in Astronics by 328.2% in the third quarter. Barclays PLC now owns 45,313 shares of the aerospace company's stock valued at $883,000 after purchasing an additional 34,730 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Astronics during the 4th quarter worth about $776,000. Royce & Associates LP grew its holdings in shares of Astronics by 18.7% in the 4th quarter. Royce & Associates LP now owns 1,150,355 shares of the aerospace company's stock valued at $18,360,000 after acquiring an additional 181,619 shares in the last quarter. Ironwood Investment Management LLC acquired a new stake in shares of Astronics in the fourth quarter valued at about $439,000. Finally, EntryPoint Capital LLC increased its position in shares of Astronics by 229.7% in the fourth quarter. EntryPoint Capital LLC now owns 33,566 shares of the aerospace company's stock valued at $536,000 after acquiring an additional 23,386 shares during the last quarter. 56.68% of the stock is currently 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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