Astronics (NASDAQ:ATRO) Trading 3.1% Higher

Astronics Co. (NASDAQ:ATRO)’s share price was up 3.1% on Tuesday . The company traded as high as $20.34 and last traded at $20.30. Approximately 28,441 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 140,593 shares. The stock had previously closed at $19.69.

Wall Street Analyst Weigh In

Separately, Truist Financial dropped their price objective on Astronics from $21.00 to $19.00 and set a “hold” rating on the stock in a report on Friday, May 3rd.

Astronics Stock Performance

The company has a quick ratio of 1.27, a current ratio of 2.59 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $19.17 and a 200-day simple moving average of $18.17. The company has a market cap of $708.99 million, a PE ratio of -26.90 and a beta of 1.87.

Astronics (NASDAQ:ATRO) last released its quarterly earnings results on Thursday, May 2nd. The aerospace company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.14). The company had revenue of $185.07 million for the quarter, compared to analysts’ expectations of $172.74 million. Astronics had a negative return on equity of 5.93% and a negative net margin of 3.51%. During the same period in the prior year, the business earned ($0.14) EPS. On average, research analysts forecast that Astronics Co. will post 0.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Astronics

Hedge funds have recently added to or reduced their stakes in the company. Bares Capital Management Inc. lifted its position in Astronics by 12.8% in the fourth quarter. Bares Capital Management Inc. now owns 814,692 shares of the aerospace company’s stock valued at $14,192,000 after purchasing an additional 92,574 shares during the period. Vanguard Group Inc. lifted its position in Astronics by 1.6% in the third quarter. Vanguard Group Inc. now owns 1,384,253 shares of the aerospace company’s stock valued at $21,954,000 after purchasing an additional 21,353 shares during the period. SG Americas Securities LLC lifted its position in Astronics by 28.0% in the fourth quarter. SG Americas Securities LLC now owns 14,900 shares of the aerospace company’s stock valued at $260,000 after purchasing an additional 3,257 shares during the period. BKM Wealth Management LLC acquired a new stake in shares of Astronics during the 4th quarter valued at approximately $64,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Astronics during the 4th quarter valued at approximately $465,000. Institutional investors and hedge funds own 56.68% of the company’s stock.

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.