Astronics (NASDAQ:ATRO) Shares Down 4.9% - Should You Sell?

Astronics Corporation (NASDAQ:ATRO - Get Free Report)'s stock price fell 4.9% during trading on Thursday . The company traded as low as $30.37 and last traded at $30.18. 119,095 shares changed hands during trading, a decline of 76% from the average session volume of 491,297 shares. The stock had previously closed at $31.73.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ATRO. Truist Financial upgraded Astronics from a "hold" rating to a "buy" rating and set a $49.00 target price on the stock in a research report on Friday. Wall Street Zen cut Astronics from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, May 21st.

Astronics Trading Up 16.1%

The company has a current ratio of 2.74, a quick ratio of 1.49 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of -300.89 and a beta of 1.55. The company has a fifty day moving average of $31.65 and a 200-day moving average of $24.40.

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

Institutional Investors Weigh In On Astronics

Several institutional investors have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Astronics during the 4th quarter worth approximately $776,000. Assenagon Asset Management S.A. boosted its holdings in shares of Astronics by 224.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 128,757 shares of the aerospace company's stock worth $3,112,000 after purchasing an additional 89,033 shares during the last quarter. Point72 Asset Management L.P. boosted 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 worth $401,000 after purchasing an additional 19,744 shares during the last quarter. Deutsche Bank AG boosted 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 worth $1,445,000 after purchasing an additional 8,859 shares during the last quarter. Finally, Royce & Associates LP boosted 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 worth $18,360,000 after purchasing an additional 181,619 shares during the last quarter. 56.68% of the stock is currently owned by institutional investors and hedge funds.

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.