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Astronics (NASDAQ:ATRO) shares dropped 16% on Wednesday following insider selling activity, AnalystRatings.Net reports. The company traded as low as $53.51 and last traded at $53.94, with a volume of 152,672 shares changing hands. The stock had previously closed at $64.25.

Specifically, VP James S. Kramer sold 3,000 shares of Astronics stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $63.73, for a total value of $191,190.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Several analysts have recently commented on the stock. Analysts at Canaccord Genuity initiated coverage on shares of Astronics in a research note on Thursday, August 7th. They set a “buy” rating and a $72.00 price target on the stock. Analysts at KeyCorp downgraded shares of Astronics from a “buy” rating to a “hold” rating in a research note on Wednesday, July 30th.

The stock’s 50-day moving average is $58.76 and its 200-day moving average is $59.13. The company has a market cap of $963.8 million and a P/E ratio of 35.05.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.70 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.52 by $0.18. The company had revenue of $174.60 million for the quarter, compared to the consensus estimate of $157.83 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. The company’s quarterly revenue was up 146.6% on a year-over-year basis. Analysts expect that Astronics will post $2.76 EPS for the current fiscal year.

Astronics Corporation is a supplier of products to the aerospace and defense industries. The Company’s products include lighting systems, electrical power generation systems, aircraft safety systems, electrical power distribution systems and avionics databus products for the global aerospace industry, as well as test, training and simulation systems for the military.

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