Astronics (NASDAQ:ATRO) Shares Gap Down – Time to Sell?

Astronics Corporation (NASDAQ:ATRO)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $96.00, but opened at $81.61. Astronics shares last traded at $77.44, with a volume of 190,542 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ATRO shares. Truist Financial upgraded shares of Astronics to a “strong-buy” rating in a research report on Monday, May 4th. Wall Street Zen lowered shares of Astronics from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research report on Monday, April 20th. TD Cowen boosted their target price on shares of Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Finally, Zacks Research lowered shares of Astronics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $74.17.

Astronics Stock Down 4.0%

The firm’s 50 day moving average is $78.72 and its two-hundred day moving average is $70.96. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 65.75 and a beta of 1.15. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 2.07.

Astronics (NASDAQ:ATRO) last announced its earnings results on Tuesday, May 12th. The aerospace company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The firm had revenue of $230.62 million during the quarter, compared to the consensus estimate of $225.52 million. During the same quarter in the previous year, the company posted $0.37 EPS. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, sell-side analysts predict that Astronics Corporation will post 2.68 EPS for the current year.

Institutional Trading of Astronics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC increased its position in Astronics by 5.2% during the 1st quarter. NewEdge Advisors LLC now owns 19,276 shares of the aerospace company’s stock worth $1,286,000 after purchasing an additional 945 shares in the last quarter. Optiver Holding B.V. increased its position in Astronics by 3,921.4% during the 1st quarter. Optiver Holding B.V. now owns 563 shares of the aerospace company’s stock worth $38,000 after purchasing an additional 549 shares in the last quarter. Bank of America Corp DE increased its position in Astronics by 81.9% during the 1st quarter. Bank of America Corp DE now owns 199,722 shares of the aerospace company’s stock worth $13,327,000 after purchasing an additional 89,950 shares in the last quarter. RBF Capital LLC acquired a new stake in Astronics during the 1st quarter worth approximately $6,698,000. Finally, Sunbelt Securities Inc. increased its position in Astronics by 8,950.0% during the 1st quarter. Sunbelt Securities Inc. now owns 1,086 shares of the aerospace company’s stock worth $72,000 after purchasing an additional 1,074 shares in the last quarter. Institutional investors and hedge funds own 56.68% of the company’s stock.

Astronics Company Profile

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.