Astronics (NASDAQ:ATRO) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Astronics (NASDAQ:ATRO) announced its quarterly earnings results on Tuesday. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.07, Zacks reports. Astronics had a negative net margin of 0.45% and a positive return on equity of 22.89%. The company had revenue of $211.45 million during the quarter, compared to the consensus estimate of $210.80 million. Astronics updated its FY 2025 guidance to EPS.

Astronics Trading Up 0.1%

ATRO stock traded up $0.04 during mid-day trading on Thursday, reaching $47.39. 180,124 shares of the stock traded hands, compared to its average volume of 594,631. The company has a market cap of $1.68 billion, a P/E ratio of -394.27 and a beta of 1.63. Astronics has a 52-week low of $14.13 and a 52-week high of $51.88. The company has a current ratio of 3.04, a quick ratio of 1.63 and a debt-to-equity ratio of 0.59. The stock’s fifty day moving average is $44.48 and its 200-day moving average is $36.12.

Insider Buying and Selling at Astronics

In other news, insider James Mulato sold 1,129 shares of the company’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $38.16, for a total value of $43,082.64. Following the transaction, the insider owned 1,066 shares in the company, valued at $40,678.56. This represents a 51.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Astronics

A number of large investors have recently made changes to their positions in ATRO. Millennium Management LLC increased its holdings in shares of Astronics by 80.1% in the 1st quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock valued at $18,054,000 after purchasing an additional 332,133 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Astronics by 186.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 352,075 shares of the aerospace company’s stock worth $11,787,000 after buying an additional 228,958 shares during the period. Jane Street Group LLC boosted its holdings in shares of Astronics by 579.4% during the 1st quarter. Jane Street Group LLC now owns 230,492 shares of the aerospace company’s stock worth $5,571,000 after buying an additional 196,568 shares during the period. AQR Capital Management LLC grew its stake in shares of Astronics by 112.1% in the second quarter. AQR Capital Management LLC now owns 238,018 shares of the aerospace company’s stock worth $7,969,000 after acquiring an additional 125,808 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in shares of Astronics by 193.7% in the second quarter. Qube Research & Technologies Ltd now owns 173,199 shares of the aerospace company’s stock worth $5,799,000 after acquiring an additional 114,230 shares during the last quarter. Institutional investors and hedge funds own 56.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ATRO shares. Wall Street Zen raised shares of Astronics from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Truist Financial upped their price objective on shares of Astronics from $49.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Zacks Research raised shares of Astronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Craig Hallum started coverage on shares of Astronics in a report on Friday, October 10th. They issued a “buy” rating and a $60.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $59.00.

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.