Astronics (NASDAQ:ATRO) Stock Price Down 4.9% - What's Next?

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

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Wall Street Zen downgraded shares of Astronics from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, May 21st. Truist Financial lifted their target price on shares of Astronics from $24.00 to $32.00 and gave the stock a "hold" rating in a research note on Thursday, June 12th.

Astronics Trading Down 2.0%

The company has a market capitalization of $1.10 billion, a PE ratio of -259.06 and a beta of 1.55. The firm's 50 day moving average is $31.41 and its 200 day moving average is $24.15. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.74 and a quick ratio of 1.49.

Astronics (NASDAQ:ATRO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.19. The business had revenue of $205.94 million for the quarter, compared to the consensus estimate of $192.53 million. Astronics had a negative net margin of 0.43% and a positive return on equity of 18.45%. As a group, equities analysts predict that Astronics Corporation will post 0.82 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position 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. Royce & Associates LP increased its position in Astronics by 18.7% during the 4th quarter. Royce & Associates LP now owns 1,150,355 shares of the aerospace company's stock valued at $18,360,000 after purchasing an additional 181,619 shares during the period. Dimensional Fund Advisors LP increased its position in Astronics by 6.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 998,506 shares of the aerospace company's stock valued at $15,936,000 after purchasing an additional 58,149 shares during the period. Schonfeld Strategic Advisors LLC increased its position in Astronics by 58.7% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 881,504 shares of the aerospace company's stock valued at $14,069,000 after purchasing an additional 325,904 shares during the period. Finally, Millennium Management LLC increased its position in 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 purchasing an additional 332,133 shares during the period. 56.68% of the stock is owned by hedge funds and other institutional investors.

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.