Astronics (NASDAQ:ATRO) Sets New 52-Week High - What's Next?

Key Points

• Astronics Corporation shares reached a new 52-week high of $48.34, reflecting strong trading volume and an increase from a previous close of $47.23.
• Analysts have mixed opinions on ATRO stock, with ratings ranging from "strong-buy" to "sell," but the average price target is set at $49.00.
• Insider James Mulato sold a significant portion of his shares, indicating a 51.44% decrease in his position at an average price of $38.16.

Astronics Corporation (NASDAQ:ATRO - Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as $48.34 and last traded at $48.25, with a volume of 648250 shares trading hands. The stock had previously closed at $47.23.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ATRO shares. Zacks Research raised shares of Astronics to a "strong-buy" rating in a research note on Friday, August 8th. Weiss Ratings restated a "sell (d-)" rating on shares of Astronics in a report on Saturday, September 27th. Truist Financial raised Astronics from a "hold" rating to a "buy" rating and set a $49.00 price objective on the stock in a research report on Friday, July 11th. Finally, Wall Street Zen downgraded Astronics from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Astronics currently has an average rating of "Moderate Buy" and an average price target of $49.00.

Astronics Stock Performance

The firm's fifty day moving average price is $38.36 and its 200 day moving average price is $32.28. The firm has a market cap of $1.71 billion, a P/E ratio of -402.05 and a beta of 1.68. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.63 and a current ratio of 3.04.

Astronics (NASDAQ:ATRO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The aerospace company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate 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 negative net margin of 0.45% and a positive return on equity of 22.89%. Sell-side analysts expect that Astronics Corporation will post 0.82 EPS for the current fiscal year.

Insider Activity

In other news, insider James Mulato sold 1,129 shares of the business's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $38.16, for a total value of $43,082.64. Following the completion of the transaction, the insider directly owned 1,066 shares of the company's stock, valued at approximately $40,678.56. The trade was a 51.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 10.83% of the company's stock.

Hedge Funds Weigh In On Astronics

A number of large investors have recently added to or reduced their stakes in ATRO. Assenagon Asset Management S.A. lifted its position in shares of Astronics by 224.1% during the first quarter. Assenagon Asset Management S.A. now owns 128,757 shares of the aerospace company's stock valued at $3,112,000 after buying an additional 89,033 shares during the last quarter. Informed Momentum Co LLC acquired a new stake in Astronics in the first quarter valued at approximately $3,070,000. Envestnet Asset Management Inc. purchased a new position in Astronics in the first quarter worth $5,521,000. Equitable Trust Co. purchased a new position in Astronics in the first quarter worth $251,000. Finally, Vanguard Group Inc. increased its position in shares of Astronics by 1.7% during the first quarter. Vanguard Group Inc. now owns 1,601,632 shares of the aerospace company's stock worth $38,711,000 after purchasing an additional 27,025 shares in the last quarter. 56.68% of the stock is currently owned by institutional investors.

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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