Astronics (NASDAQ:ATRO) Issues Quarterly Earnings Results

Astronics (NASDAQ:ATRO) announced its earnings results on Tuesday. The aerospace company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.15, Zacks reports. Astronics had a negative net margin of 0.37% and a positive return on equity of 29.65%.

Astronics Trading Up 4.0%

Shares of Astronics stock traded up $3.09 on Tuesday, hitting $79.39. 638,667 shares of the company’s stock traded hands, compared to its average volume of 755,438. The company has a fifty day moving average of $68.30 and a two-hundred day moving average of $53.15. Astronics has a one year low of $19.51 and a one year high of $81.89. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of -882.01 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.

Institutional Trading of Astronics

Large investors have recently modified their holdings of the stock. Quarry LP increased its holdings in Astronics by 33.6% during the 4th quarter. Quarry LP now owns 568 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 143 shares in the last quarter. US Bancorp DE boosted its position in shares of Astronics by 41.0% during the third quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock valued at $44,000 after buying an additional 281 shares during the last quarter. WINTON GROUP Ltd grew its holdings in Astronics by 4.6% during the third quarter. WINTON GROUP Ltd now owns 8,644 shares of the aerospace company’s stock worth $394,000 after buying an additional 383 shares in the last quarter. Captrust Financial Advisors raised its position in Astronics by 2.3% in the 2nd quarter. Captrust Financial Advisors now owns 19,220 shares of the aerospace company’s stock valued at $643,000 after buying an additional 435 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Astronics by 0.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 49,350 shares of the aerospace company’s stock valued at $2,677,000 after acquiring an additional 441 shares in the last quarter. Institutional investors and hedge funds own 56.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Zacks Research raised shares of Astronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a report on Wednesday, January 21st. TD Cowen began coverage on Astronics in a report on Wednesday, November 26th. They issued a “buy” rating for the company. Wall Street Zen downgraded Astronics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 7th. Finally, Craig Hallum reissued a “buy” rating on shares of Astronics in a research report on Friday, January 9th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Astronics currently has an average rating of “Buy” and a consensus target price of $66.67.

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.