Astronics (NASDAQ:ATRO) Hits New 52-Week High – Time to Buy?

Astronics Corporation (NASDAQ:ATRO) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $81.89 and last traded at $80.30, with a volume of 208082 shares trading hands. The stock had previously closed at $77.30.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 10th. Truist Financial set a $75.00 target price on shares of Astronics in a research note on Friday, January 9th. Zacks Research lowered shares of Astronics from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Craig Hallum reaffirmed a “buy” rating on shares of Astronics in a report on Friday, January 9th. Finally, CJS Securities raised Astronics to a “strong-buy” rating in a research note on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Astronics has an average rating of “Moderate Buy” and an average target price of $66.67.

Astronics Stock Performance

The stock has a market cap of $2.84 billion, a P/E ratio of -884.60 and a beta of 1.09. The company has a debt-to-equity ratio of 3.07, a current ratio of 2.87 and a quick ratio of 1.56. The stock’s 50 day simple moving average is $61.15 and its two-hundred day simple moving average is $48.70.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Tuesday, November 4th. The aerospace company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.42 by $0.07. Astronics had a negative net margin of 0.37% and a positive return on equity of 29.65%. The business had revenue of $211.45 million for the quarter, compared to analysts’ expectations of $210.80 million. As a group, research analysts forecast that Astronics Corporation will post 0.82 EPS for the current year.

Institutional Investors Weigh In On Astronics

Several institutional investors have recently bought and sold shares of the company. Nordea Investment Management AB acquired a new position in Astronics during the third quarter worth $4,137,000. Y Intercept Hong Kong Ltd raised its holdings in shares of Astronics by 74.9% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 33,061 shares of the aerospace company’s stock valued at $1,508,000 after purchasing an additional 14,160 shares during the period. Ellsworth Advisors LLC acquired a new stake in Astronics in the 3rd quarter valued at about $918,000. Hennion & Walsh Asset Management Inc. grew its holdings in Astronics by 75.7% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 44,166 shares of the aerospace company’s stock worth $2,014,000 after purchasing an additional 19,029 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in Astronics by 112.1% during the third quarter. Assenagon Asset Management S.A. now owns 84,656 shares of the aerospace company’s stock worth $3,861,000 after buying an additional 44,747 shares during the last quarter. Institutional investors own 56.68% of the company’s stock.

About Astronics

Astronics Corporation (NASDAQ: ATRO) is a global leader in the design and manufacture of advanced technologies primarily for the aerospace, defense and semiconductor industries. Headquartered in East Aurora, New York, the company was founded in 1968 and has grown through a combination of internal development and strategic acquisitions. Astronics operates multiple business units focused on power conversion, distribution and control; cabin electronics and connectivity; aircraft lighting and safety solutions; and automated test systems.

The company’s aerospace products include onboard power generation and management systems, in-flight entertainment and connectivity hardware, LED and fluorescent lighting for aircraft cabins and cockpits, and safety equipment such as escape slide power units.