Astronics (NASDAQ:ATRO) Stock Price Down 7.9% – What’s Next?

by · The Markets Daily

Astronics Corporation (NASDAQ:ATRO – Get Free Report) shares traded down 7.9% during trading on Thursday . The stock traded as low as $67.27 and last traded at $67.4240. 226,986 shares changed hands during trading, a decline of 69% from the average session volume of 738,509 shares. The stock had previously closed at $73.19.

Analyst Ratings Changes

ATRO has been the subject of several analyst reports. Wall Street Zen raised shares of Astronics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. Craig Hallum restated a “buy” rating on shares of Astronics in a report on Friday, January 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a report on Wednesday, January 21st. TD Cowen started coverage on Astronics in a research note on Wednesday, November 26th. They set a “buy” rating for the company. Finally, CJS Securities raised Astronics to a “strong-buy” rating in a report on Thursday, December 11th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Astronics currently has a consensus rating of “Buy” and an average price target of $77.33.

Read Our Latest Analysis on ATRO

Astronics Trading Down 8.3%

The company’s fifty day moving average is $73.84 and its 200-day moving average is $56.67. The company has a current ratio of 3.10, a quick ratio of 1.71 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $2.39 billion, a P/E ratio of 87.12 and a beta of 1.06.

Astronics (NASDAQ:ATRO – Get Free Report) last released its earnings results on Tuesday, February 24th. The aerospace company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.12. Astronics had a net margin of 3.41% and a return on equity of 39.95%. The firm had revenue of $240.07 million during the quarter, compared to analyst estimates of $237.11 million. During the same quarter in the previous year, the business earned $0.46 EPS. The business’s revenue was up 15.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Astronics Corporation will post 0.82 earnings per share for the current fiscal year.

Institutional Trading of Astronics

Several hedge funds have recently added to or reduced their stakes in ATRO. Vanguard Group Inc. increased its position in Astronics by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 1,975,693 shares of the aerospace company’s stock worth $107,162,000 after buying an additional 39,527 shares during the period. Capital International Investors boosted its position in shares of Astronics by 31.5% in the fourth quarter. Capital International Investors now owns 1,849,886 shares of the aerospace company’s stock valued at $100,338,000 after acquiring an additional 442,886 shares during the period. State Street Corp boosted its position in shares of Astronics by 26.2% in the fourth quarter. State Street Corp now owns 1,832,179 shares of the aerospace company’s stock valued at $99,377,000 after acquiring an additional 379,811 shares during the period. Luxor Capital Group LP acquired a new stake in shares of Astronics in the third quarter worth $52,698,000. Finally, Geode Capital Management LLC grew its stake in shares of Astronics by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 756,386 shares of the aerospace company’s stock worth $41,033,000 after acquiring an additional 7,968 shares during the last quarter. Institutional investors own 56.68% of the company’s stock.

About Astronics

(Get Free Report)

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.

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