Astronics Corporation (NASDAQ:ATRO - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $65.03 and traded as high as $70.00. Astronics shares last traded at $69.00, with a volume of 456,155 shares traded.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on ATRO shares. Wall Street Zen upgraded Astronics from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 21st. Zacks Research downgraded shares of Astronics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 13th. TD Cowen raised their target price on shares of Astronics from $70.83 to $83.33 and gave the company a "buy" rating in a research note on Thursday, May 28th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Astronics in a report on Friday. Finally, Truist Financial raised shares of Astronics to a "strong-buy" rating in a research report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Astronics presently has a consensus rating of "Moderate Buy" and an average price target of $74.17.
Check Out Our Latest Report on Astronics
Astronics Price Performance
The stock's 50-day moving average is $73.16 and its 200-day moving average is $65.03. The firm has a market cap of $2.97 billion, a P/E ratio of 70.17 and a beta of 1.13. The company has a quick ratio of 1.63, a current ratio of 2.97 and a debt-to-equity ratio of 2.07.
Astronics (NASDAQ:ATRO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The aerospace company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.03. The firm had revenue of $230.62 million during the quarter, compared to the consensus estimate of $225.52 million. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The business's revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 EPS. As a group, equities analysts anticipate that Astronics Corporation will post 2.62 EPS for the current fiscal year.
Hedge Funds Weigh In On Astronics
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its position in shares of Astronics by 389.6% in the 3rd quarter. IFP Advisors Inc now owns 563 shares of the aerospace company's stock worth $26,000 after acquiring an additional 448 shares during the period. Allworth Financial LP raised its stake in shares of Astronics by 57.1% in the fourth quarter. Allworth Financial LP now owns 528 shares of the aerospace company's stock valued at $29,000 after purchasing an additional 192 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Astronics by 147.6% in the second quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company's stock valued at $30,000 after purchasing an additional 533 shares in the last quarter. Quarry LP lifted its position in Astronics by 33.6% in the fourth quarter. Quarry LP now owns 568 shares of the aerospace company's stock worth $31,000 after purchasing an additional 143 shares during the period. Finally, Leonteq Securities AG bought a new position in Astronics in the fourth quarter worth $33,000. 56.68% of the stock is currently owned by institutional investors.
About Astronics
(
Get Free Report)
Astronics Corporation NASDAQ: ATRO is a global leader in the design and manufacture of advanced technologies primarily for the aerospace, defense and semiconductor industries. Headquartered in East Aurora, New York, the company was founded in 1968 and has grown through a combination of internal development and strategic acquisitions. Astronics operates multiple business units focused on power conversion, distribution and control; cabin electronics and connectivity; aircraft lighting and safety solutions; and automated test systems.
The company's aerospace products include onboard power generation and management systems, in-flight entertainment and connectivity hardware, LED and fluorescent lighting for aircraft cabins and cockpits, and safety equipment such as escape slide power units.
Further Reading
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