Astronics (NASDAQ:ATRO) Shares Down 6.2% – Time to Sell?

Shares of Astronics Corporation (NASDAQ:ATRO) traded down 6.2% on Tuesday . The stock traded as low as $66.07 and last traded at $65.6150. 653,756 shares traded hands during mid-day trading, a decline of 36% from the average session volume of 1,026,153 shares. The stock had previously closed at $69.97.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ATRO. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 10th. Zacks Research lowered Astronics from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a research note on Wednesday, October 8th. CJS Securities upgraded shares of Astronics to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Truist Financial set a $75.00 price target on Astronics in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.67.

Astronics Trading Down 3.7%

The company has a quick ratio of 1.56, a current ratio of 2.87 and a debt-to-equity ratio of 3.07. The firm’s 50 day moving average is $53.23 and its two-hundred day moving average is $44.31. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of -748.25 and a beta of 1.10.

Astronics (NASDAQ:ATRO) last issued its earnings results 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 company had revenue of $211.45 million during the quarter, compared to the consensus estimate of $210.80 million. Astronics had a positive return on equity of 29.65% and a negative net margin of 0.37%. Equities analysts anticipate that Astronics Corporation will post 0.82 EPS for the current year.

Institutional Trading of Astronics

Large investors have recently added to or reduced their stakes in the business. Ellsworth Advisors LLC acquired a new position in Astronics during the third quarter valued at $918,000. Assenagon Asset Management S.A. boosted its position in Astronics by 112.1% during the third quarter. Assenagon Asset Management S.A. now owns 84,656 shares of the aerospace company’s stock worth $3,861,000 after purchasing an additional 44,747 shares during the period. Hennion & Walsh Asset Management Inc. lifted its position in Astronics by 75.7% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 44,166 shares of the aerospace company’s stock worth $2,014,000 after acquiring an additional 19,029 shares during the last quarter. Longboard Asset Management LP bought a new stake in Astronics during the 2nd quarter valued at approximately $222,000. Finally, Geode Capital Management LLC boosted its position in shares of Astronics by 3.1% in the second quarter. Geode Capital Management LLC now owns 736,327 shares of the aerospace company’s stock valued at $24,655,000 after acquiring an additional 22,134 shares during the period. 56.68% of the stock is currently owned by institutional investors and hedge funds.

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.