Astronics (NASDAQ:ATRO) Hits New 52-Week High – Time to Buy?

Shares of Astronics Corporation (NASDAQ:ATRO) reached a new 52-week high on Wednesday . The stock traded as high as $70.45 and last traded at $67.35, with a volume of 1679119 shares traded. The stock had previously closed at $69.97.

Analyst Ratings Changes

A number of equities analysts have commented on ATRO shares. Craig Hallum reissued a “buy” rating on shares of Astronics in a research note on Friday. TD Cowen assumed coverage on shares of Astronics in a research report on Wednesday, November 26th. They issued a “buy” rating and a $65.00 target price for the company. Zacks Research cut Astronics from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Cowen started coverage on Astronics in a research note on Wednesday, November 26th. They set a “buy” rating for the company. Finally, Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $66.67.

Astronics Stock Performance

The company has a debt-to-equity ratio of 3.07, a quick ratio of 1.56 and a current ratio of 2.87. The company has a market cap of $2.40 billion, a PE ratio of -748.25 and a beta of 1.10. The business’s 50-day moving average is $53.62 and its 200 day moving average is $44.55.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings data on Tuesday, November 4th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07. The firm had revenue of $211.45 million for the quarter, compared to analysts’ expectations of $210.80 million. Astronics had a positive return on equity of 29.65% and a negative net margin of 0.37%. On average, equities research analysts predict that Astronics Corporation will post 0.82 EPS for the current fiscal year.

Institutional Trading of Astronics

Several hedge funds and other institutional investors have recently bought and sold shares of ATRO. AQR Capital Management LLC grew its holdings in shares of Astronics by 20.4% in the first quarter. AQR Capital Management LLC now owns 112,210 shares of the aerospace company’s stock worth $2,712,000 after purchasing an additional 18,975 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Astronics by 6.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,491 shares of the aerospace company’s stock valued at $423,000 after acquiring an additional 1,069 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Astronics by 80.1% during the first quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock worth $18,054,000 after purchasing an additional 332,133 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Astronics by 26.1% during the first quarter. Goldman Sachs Group Inc. now owns 222,486 shares of the aerospace company’s stock worth $5,377,000 after purchasing an additional 46,054 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Astronics by 22.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,791 shares of the aerospace company’s stock worth $1,735,000 after purchasing an additional 13,104 shares during the last quarter. Institutional investors own 56.68% of the company’s stock.

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.