Astronics (NASDAQ:ATRO) Hits New 1-Year High – What’s Next?

Astronics Corporation (NASDAQ:ATRO) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $94.95 and last traded at $94.80, with a volume of 1293047 shares traded. The stock had previously closed at $82.34.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ATRO shares. Zacks Research cut Astronics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Wall Street Zen raised shares of Astronics from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. TD Cowen boosted their target price on shares of Astronics from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Truist Financial raised shares of Astronics to a “strong-buy” rating in a report on Monday, May 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a report on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $89.00.

Astronics Price Performance

The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 80.34 and a beta of 1.15. The company has a fifty day simple moving average of $78.21 and a 200 day simple moving average of $70.64. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.63 and a current ratio of 2.97.

Astronics shares are going to split before the market opens on Monday, June 15th. The 6-5 split was recently announced. The newly minted shares will be issued to shareholders after the closing bell on Sunday, June 14th.

Astronics (NASDAQ:ATRO) last released its quarterly earnings results on Tuesday, May 12th. The aerospace company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.04. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The firm had revenue of $230.62 million during the quarter, compared to analyst estimates of $225.52 million. During the same quarter last year, the business earned $0.44 EPS. The company’s revenue was up 12.0% compared to the same quarter last year. Equities research analysts forecast that Astronics Corporation will post 2.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its holdings in Astronics by 5.2% during the 1st quarter. NewEdge Advisors LLC now owns 19,276 shares of the aerospace company’s stock worth $1,286,000 after acquiring an additional 945 shares during the period. Optiver Holding B.V. grew its holdings in Astronics by 3,921.4% during the 1st quarter. Optiver Holding B.V. now owns 563 shares of the aerospace company’s stock worth $38,000 after acquiring an additional 549 shares during the period. Bank of America Corp DE grew its holdings in Astronics by 81.9% during the 1st quarter. Bank of America Corp DE now owns 199,722 shares of the aerospace company’s stock worth $13,327,000 after acquiring an additional 89,950 shares during the period. RBF Capital LLC acquired a new stake in Astronics during the 1st quarter worth about $6,698,000. Finally, Sunbelt Securities Inc. grew its holdings in Astronics by 8,950.0% during the 1st quarter. Sunbelt Securities Inc. now owns 1,086 shares of the aerospace company’s stock worth $72,000 after acquiring an additional 1,074 shares during the period. 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.