Insider Selling: Astronics VP Sells 3,000 Shares of Stock (ATRO)
Astronics (NASDAQ:ATRO) VP James S. Kramer sold 3,000 shares of Astronics stock on the open market 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. Following the sale, the vice president now directly owns 148,027 shares in the company, valued at approximately $9,433,761. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Astronics (NASDAQ:ATRO) traded down 17.14% during mid-day trading on Wednesday, hitting $53.24. 285,449 shares of the company’s stock traded hands. Astronics has a 52-week low of $37.1657 and a 52-week high of $72.99. 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 price-to-earnings ratio of 35.05.
Astronics (NASDAQ:ATRO) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.34 earnings per share. The company’s revenue for the quarter was up 146.6% on a year-over-year basis. Analysts expect that Astronics will post $2.76 EPS for the current fiscal year.
A number of research firms have recently commented on ATRO. 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.
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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