Astronics (NASDAQ:ATRO) Stock Price Down 4.5% - What's Next?

Key Points

• Astronics Corporation (ATRO) shares fell 4.5% to $41.93, with trading volume dropping by 51% compared to the average.
• Analysts have mixed views on Astronics, with a strong-buy rating from one firm and a target price set at $49.00, while another firm downgraded it to hold.
• Despite recent price fluctuations, the company reported a quarterly earnings per share of $0.38, surpassing expectations, and additional institutional investments indicate growing confidence.

Astronics Corporation (NASDAQ:ATRO - Get Free Report) shares traded down 4.5% on Thursday . The stock traded as low as $42.26 and last traded at $41.93. 275,394 shares were traded during trading, a decline of 51% from the average session volume of 566,010 shares. The stock had previously closed at $43.90.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Zacks Research raised Astronics to a "strong-buy" rating in a research note on Friday, August 8th. Truist Financial upgraded Astronics from a "hold" rating to a "buy" rating and set a $49.00 target price on the stock in a report on Friday, July 11th. Finally, Wall Street Zen lowered Astronics from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Strong Buy" and an average target price of $49.00.

Astronics Stock Down 8.9%

The business's fifty day simple moving average is $35.05 and its 200 day simple moving average is $29.65. The company has a current ratio of 3.04, a quick ratio of 1.63 and a debt-to-equity ratio of 0.59. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of -333.25 and a beta of 1.69.

Astronics (NASDAQ:ATRO - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The aerospace company reported $0.38 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.05. Astronics had a negative net margin of 0.45% and a positive return on equity of 22.89%. The business had revenue of $204.68 million during the quarter, compared to analysts' expectations of $208.29 million. Equities analysts forecast that Astronics Corporation will post 0.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ATRO. Earnest Partners LLC bought a new position in shares of Astronics during the first quarter worth approximately $12,774,000. Hennessy Advisors Inc. bought a new position in Astronics during the second quarter worth $15,046,000. Millennium Management LLC increased its stake in Astronics by 881.6% in the fourth quarter. Millennium Management LLC now owns 414,823 shares of the aerospace company's stock valued at $6,621,000 after purchasing an additional 372,565 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Astronics by 493.7% in the fourth quarter. Ameriprise Financial Inc. now owns 363,286 shares of the aerospace company's stock valued at $5,798,000 after purchasing an additional 302,092 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Astronics by 659.8% during the second quarter. American Century Companies Inc. now owns 339,947 shares of the aerospace company's stock valued at $11,381,000 after buying an additional 295,208 shares during the last quarter. 56.68% of the stock is 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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