Avantax Advisory Services Inc. Invests $1.04 Million in Astronics Corporation (NASDAQ:ATRO)

Key Points

• Avantax Advisory Services Inc. invested $1.04 million in Astronics Corporation, acquiring 43,163 shares, which now represents 0.12% of the company's stock.
• Astronics has seen significant interest from hedge funds, with CWM LLC increasing its stake by 192.2% and GAMMA Investing LLC by 16,616.7% in the first quarter.
• Analysts have recently revised their ratings on Astronics, with Truist Financial upgrading it to a "buy" and setting a price target of $49.00.

Avantax Advisory Services Inc. acquired a new stake in Astronics Corporation (NASDAQ:ATRO - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 43,163 shares of the aerospace company's stock, valued at approximately $1,043,000. Avantax Advisory Services Inc. owned 0.12% of Astronics as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Signaturefd LLC grew its position in Astronics by 88.5% during the first quarter. Signaturefd LLC now owns 1,446 shares of the aerospace company's stock worth $35,000 after buying an additional 679 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Astronics by 4.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,422 shares of the aerospace company's stock worth $262,000 after buying an additional 684 shares in the last quarter. Franklin Resources Inc. grew its position in Astronics by 3.4% during the fourth quarter. Franklin Resources Inc. now owns 20,882 shares of the aerospace company's stock worth $333,000 after buying an additional 693 shares in the last quarter. Federated Hermes Inc. grew its position in Astronics by 4.7% during the fourth quarter. Federated Hermes Inc. now owns 35,844 shares of the aerospace company's stock worth $572,000 after buying an additional 1,612 shares in the last quarter. Finally, CWM LLC grew its position in Astronics by 192.2% during the first quarter. CWM LLC now owns 2,592 shares of the aerospace company's stock worth $63,000 after buying an additional 1,705 shares in the last quarter. Institutional investors own 56.68% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Wall Street Zen downgraded Astronics from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, May 21st. Truist Financial raised Astronics from a "hold" rating to a "buy" rating and set a $49.00 price target on the stock in a research report on Friday, July 11th.

Astronics Price Performance

Shares of ATRO stock traded down $1.86 during trading hours on Friday, reaching $34.26. The company's stock had a trading volume of 330,566 shares, compared to its average volume of 551,334. The firm's 50 day simple moving average is $33.51 and its 200-day simple moving average is $26.37. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -285.48 and a beta of 1.64. Astronics Corporation has a fifty-two week low of $14.13 and a fifty-two week high of $37.31. The company has a quick ratio of 1.49, a current ratio of 2.74 and a debt-to-equity ratio of 0.60.

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

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.