Astronics Corp. (ATRO) Sees Unusually-High Trading Volume
Astronics Corp. (NASDAQ:ATRO) shares saw unusually-strong trading volume on Wednesday . Approximately 148,312 shares changed hands during mid-day trading, an increase of 1% from the previous session’s volume of 146,480 shares.The stock last traded at $34.99 and had previously closed at $35.45.
Several analysts have issued reports on ATRO shares. Canaccord Genuity reissued a “buy” rating and issued a $45.00 price target (up previously from $40.00) on shares of Astronics Corp. in a research note on Wednesday, March 16th. Dougherty & Co lifted their target price on Astronics Corp. from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, May 5th. Zacks Investment Research raised Astronics Corp. from a “sell” rating to a “hold” rating in a research report on Monday, May 2nd. Finally, KeyCorp raised Astronics Corp. from a “sector weight” rating to an “overweight” rating in a research report on Wednesday, June 29th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $54.40.
The company has a market cap of $887.59 million and a price-to-earnings ratio of 13.49. The stock’s 50 day moving average price is $35.74 and its 200-day moving average price is $35.15.
Astronics Corp. (NASDAQ:ATRO) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $0.44 EPS for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.08. The business had revenue of $159.53 million for the quarter, compared to analyst estimates of $167.77 million. The company’s revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 earnings per share. On average, analysts expect that Astronics Corp. will post $2.26 EPS for the current year.
In other Astronics Corp. news, EVP James S. Kramer sold 3,000 shares of the company’s stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $38.12, for a total transaction of $114,360.00. Following the sale, the executive vice president now owns 42,600 shares of the company’s stock, valued at $1,623,912. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert T. Brady purchased 4,500 shares of the business’s stock in a transaction on Wednesday, May 18th. The shares were purchased at an average cost of $35.39 per share, for a total transaction of $159,255.00. Following the transaction, the director now directly owns 20,397 shares of the company’s stock, valued at approximately $721,849.83. The disclosure for this purchase can be found here.
A number of hedge funds have recently modified their holdings of ATRO. Eaton Vance Management purchased a new stake in shares of Astronics Corp. during the fourth quarter worth approximately $9,696,000. Mutual of America Capital Management LLC boosted its position in Astronics Corp. by 91.3% in the fourth quarter. Mutual of America Capital Management LLC now owns 254,315 shares of the company’s stock worth $10,353,000 after buying an additional 121,366 shares during the period. Wells Fargo & Company MN boosted its position in Astronics Corp. by 17.2% in the fourth quarter. Wells Fargo & Company MN now owns 492,128 shares of the company’s stock worth $20,036,000 after buying an additional 72,045 shares during the period. Stephens Investment Management Group LLC boosted its position in Astronics Corp. by 11.4% in the fourth quarter. Stephens Investment Management Group LLC now owns 531,195 shares of the company’s stock worth $21,625,000 after buying an additional 54,200 shares during the period. Finally, State of Wisconsin Investment Board boosted its position in Astronics Corp. by 31.0% in the fourth quarter. State of Wisconsin Investment Board now owns 213,423 shares of the company’s stock worth $8,688,000 after buying an additional 50,493 shares during the period.
Astronics Corporation is a supplier of products to the aerospace, defense, electronics and semiconductor industries. The Company’s products and services include electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems.
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