Astronics (NASDAQ:ATRO) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Shares of Astronics Corporation (NASDAQ:ATRO) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $65.03 and traded as high as $70.00. Astronics shares last traded at $69.00, with a volume of 456,155 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently weighed in on ATRO shares. TD Cowen lifted their target price on shares of Astronics from $70.83 to $83.33 and gave the company a “buy” rating in a research report on Thursday, May 28th. Zacks Research lowered shares of Astronics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Truist Financial upgraded shares of Astronics to a “strong-buy” rating in a research note on Monday, May 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a report on Friday. Finally, Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 21st. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Astronics currently has an average rating of “Moderate Buy” and an average price target of $74.17.

Astronics Trading Up 2.6%

The firm has a market cap of $2.97 billion, a P/E ratio of 70.17 and a beta of 1.13. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 2.07. The company’s fifty day moving average price is $73.16 and its two-hundred day moving average price is $65.03.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings results on Tuesday, May 12th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.03. The firm had revenue of $230.62 million during the quarter, compared to the consensus estimate of $225.52 million. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the firm posted $0.37 EPS. As a group, sell-side analysts predict that Astronics Corporation will post 2.62 EPS for the current fiscal year.

Institutional Trading of Astronics

Several large investors have recently made changes to their positions in the business. Capital International Investors increased its stake in shares of Astronics by 31.5% in the fourth quarter. Capital International Investors now owns 1,849,886 shares of the aerospace company’s stock valued at $100,338,000 after buying an additional 442,886 shares in the last quarter. State Street Corp lifted its position in Astronics by 26.2% during the 4th quarter. State Street Corp now owns 1,832,179 shares of the aerospace company’s stock worth $99,377,000 after buying an additional 379,811 shares in the last quarter. Congruence Capital LLC bought a new stake in Astronics during the 4th quarter worth about $19,658,000. Millennium Management LLC grew its holdings in Astronics by 80.1% during the 1st quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock worth $18,054,000 after acquiring an additional 332,133 shares during the last quarter. Finally, Lazard Asset Management LLC increased its position in Astronics by 4,791.1% in the 3rd quarter. Lazard Asset Management LLC now owns 236,140 shares of the aerospace company’s stock valued at $10,770,000 after acquiring an additional 231,312 shares in the last quarter. Institutional investors own 56.68% of the company’s stock.

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.