Astronics (NASDAQ:ATRO) Hits New 52-Week High – Still a Buy?

Astronics Corporation (NASDAQ:ATRO)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $83.78 and last traded at $80.9450, with a volume of 123406 shares traded. The stock had previously closed at $80.06.

Wall Street Analyst Weigh In

ATRO has been the subject of a number of research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a report on Monday, April 20th. TD Cowen boosted their price target on Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a report on Thursday, May 28th. Zacks Research cut Astronics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Truist Financial raised Astronics to a “strong-buy” rating in a report on Monday, May 4th. Finally, Wall Street Zen cut Astronics from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 13th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Astronics presently has an average rating of “Moderate Buy” and a consensus price target of $74.17.

Astronics Price Performance

The business has a 50-day simple moving average of $66.71 and a 200 day simple moving average of $59.82. The stock has a market cap of $3.42 billion, a P/E ratio of 81.01 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 released its quarterly earnings results on Tuesday, May 12th. The aerospace company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Astronics had a return on equity of 49.34% and a net margin of 5.12%.The firm had revenue of $230.62 million for the quarter, compared to analyst estimates of $225.52 million. During the same quarter in the previous year, the company posted $0.37 EPS. The business’s revenue was up 12.0% on a year-over-year basis. On average, analysts forecast that Astronics Corporation will post 2.23 earnings per share for the current year.

Institutional Investors Weigh In On Astronics

A number of institutional investors have recently made changes to their positions in ATRO. Vanguard Group Inc. grew its stake in Astronics by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 1,975,693 shares of the aerospace company’s stock worth $107,162,000 after purchasing an additional 39,527 shares during the period. Capital International Investors increased its position in Astronics by 31.5% in the fourth quarter. Capital International Investors now owns 1,849,886 shares of the aerospace company’s stock worth $100,338,000 after buying an additional 442,886 shares during the last quarter. State Street Corp raised its stake in shares of Astronics by 26.2% during the 4th quarter. State Street Corp now owns 1,832,179 shares of the aerospace company’s stock valued at $99,377,000 after purchasing an additional 379,811 shares during the period. Luxor Capital Group LP bought a new stake in shares of Astronics during the 3rd quarter valued at $52,698,000. Finally, Geode Capital Management LLC grew its position in Astronics by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 756,386 shares of the aerospace company’s stock worth $41,033,000 after buying an additional 7,968 shares in the last quarter. Institutional investors 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.