Astronics (NASDAQ:ATRO) Stock Price Up 7.8% – Time to Buy?

Astronics Corporation (NASDAQ:ATRO) rose 7.8% during mid-day trading on Thursday . The company traded as high as $88.93 and last traded at $88.7590. Approximately 242,665 shares changed hands during trading, a decline of 62% from the average daily volume of 638,630 shares. The stock had previously closed at $82.34.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ATRO shares. Truist Financial upgraded Astronics to a “strong-buy” rating in a report on Monday, May 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research note on Monday, April 20th. Zacks Research downgraded Astronics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. TD Cowen increased their price target on shares of Astronics from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Finally, Wall Street Zen cut shares of Astronics from a “strong-buy” rating to a “buy” rating in a report on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $89.00.

Astronics Price Performance

The stock has a 50-day moving average price of $78.72 and a 200 day moving average price of $70.82. The company has a debt-to-equity ratio of 2.07, a current ratio of 2.97 and a quick ratio of 1.63. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 81.36 and a beta of 1.15.

Astronics’s stock is scheduled to split before the market opens on Monday, June 15th. The 6-5 split was recently announced. The newly created shares will be issued to shareholders after the market closes on Sunday, June 14th.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.04. The business had revenue of $230.62 million during the quarter, compared to the consensus estimate of $225.52 million. Astronics had a return on equity of 49.34% and a net margin of 5.12%.The company’s revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 earnings per share. As a group, equities research analysts forecast that Astronics Corporation will post 2.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ATRO. IFP Advisors Inc boosted its stake in shares of Astronics by 389.6% during the third quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock worth $26,000 after buying an additional 448 shares during the period. Allworth Financial LP raised its stake in Astronics by 57.1% during the 4th quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 192 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Astronics by 147.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock worth $30,000 after acquiring an additional 533 shares during the period. Quarry LP grew its stake in shares of Astronics by 33.6% in the 4th quarter. Quarry LP now owns 568 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 143 shares during the last quarter. Finally, Leonteq Securities AG acquired a new position in shares of Astronics in the fourth quarter valued at approximately $33,000. 56.68% of the stock is owned by hedge funds and other institutional investors.

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.