Vanguard Group Inc. Purchases 27,025 Shares of Astronics Corporation $ATRO

Key Points

• Vanguard Group Inc. has increased its stake in Astronics Corporation by 1.7%, acquiring an additional 27,025 shares, bringing its total ownership to approximately 1.6 million shares, valued at $38.7 million.
• Astronics Corporation's stock has shown significant performance, being up 100% year-to-date as of May, with analysts currently rating it as a "Strong Buy" with a price target of $49.00.
• In its latest earnings report, Astronics reported an EPS of $0.38, surpassing the consensus estimate of $0.33, while its revenue came in at $204.68 million.

Vanguard Group Inc. increased its holdings in Astronics Corporation (NASDAQ:ATRO - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,601,632 shares of the aerospace company's stock after acquiring an additional 27,025 shares during the period. Vanguard Group Inc. owned about 4.54% of Astronics worth $38,711,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. XTX Topco Ltd grew its holdings in Astronics by 28.1% during the first quarter. XTX Topco Ltd now owns 22,357 shares of the aerospace company's stock valued at $540,000 after purchasing an additional 4,907 shares during the period. Federated Hermes Inc. grew its holdings in Astronics by 56.2% during the first quarter. Federated Hermes Inc. now owns 55,980 shares of the aerospace company's stock valued at $1,353,000 after purchasing an additional 20,136 shares during the period. Equitable Trust Co. bought a new position in Astronics during the first quarter valued at $251,000. Avantax Advisory Services Inc. bought a new position in Astronics during the first quarter valued at $1,043,000. Finally, Signaturefd LLC grew its holdings in Astronics by 88.5% during the first quarter. Signaturefd LLC now owns 1,446 shares of the aerospace company's stock valued at $35,000 after purchasing an additional 679 shares during the period. 56.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ATRO has been the subject of several research reports. Wall Street Zen lowered Astronics from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th. Zacks Research raised Astronics to a "strong-buy" rating in a report on Friday, August 8th. Finally, Truist Financial raised Astronics from a "hold" rating to a "buy" rating and set a $49.00 price target for the company in a report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Strong Buy" and an average target price of $49.00.

Astronics Price Performance

NASDAQ:ATRO traded down $1.46 during trading hours on Friday, hitting $36.37. 836,587 shares of the company's stock traded hands, compared to its average volume of 731,948. The firm has a market cap of $1.29 billion, a P/E ratio of -303.06 and a beta of 1.64. Astronics Corporation has a 52 week low of $14.13 and a 52 week high of $38.26. The business's fifty day simple moving average is $34.19 and its two-hundred day simple moving average is $28.64. The company has a quick ratio of 1.63, a current ratio of 3.04 and a debt-to-equity ratio of 0.59.

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

Astronics 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.