Astronics (OTCMKTS:ATROB) Shares Gap Down - Here's Why

Key Points

• Astronics shares fell 7.1%, gapping down from $70.12 to an open of $65.17 and trading on very light volume (325 shares), marking a sharp intraday decline.
• The company recently beat quarterly expectations with $0.75 EPS (vs. $0.60) and $240.07M revenue, but investors may be wary given a high PE of 84.64 and elevated debt-to-equity of 2.39.

Astronics Corp. (OTCMKTS:ATROB - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $70.12, but opened at $65.17. Astronics shares last traded at $65.17, with a volume of 325 shares changing hands.

Astronics Stock Down 7.1%

The company's 50-day moving average is $73.50 and its 200 day moving average is $57.07. The stock has a market capitalization of $2.32 billion, a PE ratio of 84.64 and a beta of 0.94. The company has a current ratio of 3.10, a quick ratio of 1.71 and a debt-to-equity ratio of 2.39.

Astronics (OTCMKTS:ATROB - Get Free Report) last posted its quarterly earnings results on Tuesday, February 24th. The aerospace company reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.15. Astronics had a net margin of 3.41% and a return on equity of 39.95%. The business had revenue of $240.07 million during the quarter, compared to analysts' expectations of $237.11 million.

Astronics Company Profile

Astronics Corporation is a global provider of advanced technology solutions to the aerospace, defense and other high-reliability industries. Headquartered in East Aurora, New York, the company was founded in 1968 and has grown through both organic innovation and targeted acquisitions. Astronics delivers mission-critical products that enhance aircraft safety, passenger comfort and operational efficiency for major airframers, airlines and defense contractors worldwide.

The company's product portfolio spans several key areas, including electrical power generation and management systems, LED cabin lighting and safety systems, connectivity and data solutions, and automated test equipment.

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