Astronics (NASDAQ:ATRO) Hits New 1-Year High – Should You Buy?

Astronics Corporation (NASDAQ:ATRO)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $54.10 and last traded at $54.1350, with a volume of 249852 shares changing hands. The stock had previously closed at $51.07.

Wall Street Analyst Weigh In

ATRO has been the subject of a number of research analyst reports. TD Cowen initiated coverage on shares of Astronics in a research report on Wednesday. They set a “buy” rating and a $65.00 target price on the stock. Zacks Research upgraded Astronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Cowen started coverage on Astronics in a research report on Wednesday. They issued a “buy” rating for the company. Craig Hallum started coverage on shares of Astronics in a research report on Friday, October 10th. They set a “buy” rating and a $60.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Astronics currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.00.

Astronics Price Performance

The company’s 50 day simple moving average is $47.33 and its 200 day simple moving average is $38.75. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.04 and a quick ratio of 1.63. The stock has a market cap of $1.92 billion, a P/E ratio of -448.51 and a beta of 1.63.

Astronics (NASDAQ:ATRO) last released its quarterly earnings data on Tuesday, November 4th. The aerospace company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07. The business had revenue of $211.45 million during the quarter, compared to analysts’ expectations of $210.80 million. Astronics had a negative net margin of 0.45% and a positive return on equity of 22.89%. Astronics has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Astronics Corporation will post 0.82 earnings per share for the current year.

Insider Activity

In related news, insider James Mulato sold 1,129 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $38.16, for a total transaction of $43,082.64. Following the completion of the sale, the insider directly owned 1,066 shares of the company’s stock, valued at approximately $40,678.56. This represents a 51.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 9.39% of the company’s stock.

Hedge Funds Weigh In On Astronics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ATRO. EverSource Wealth Advisors LLC boosted its position in shares of Astronics by 147.6% during the second quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock worth $30,000 after buying an additional 533 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Astronics by 166.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 752 shares of the aerospace company’s stock worth $34,000 after acquiring an additional 470 shares in the last quarter. US Bancorp DE lifted its position in shares of Astronics by 41.0% in the third quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock worth $44,000 after purchasing an additional 281 shares in the last quarter. Covestor Ltd boosted its holdings in Astronics by 25.4% during the third quarter. Covestor Ltd now owns 1,068 shares of the aerospace company’s stock worth $49,000 after purchasing an additional 216 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. grew its position in Astronics by 250.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,225 shares of the aerospace company’s stock valued at $56,000 after purchasing an additional 875 shares in the last quarter. 56.68% of the stock is owned by institutional investors and hedge funds.

About Astronics

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.