Astronics Corp. (ATRO) Trading 5.4% Higher
Astronics Corp. (NASDAQ:ATRO) shares traded up 5.4% during trading on Friday . The company traded as high as $34.86 and last traded at $34.73, with a volume of 169,445 shares traded. The stock had previously closed at $32.94.
A number of research analysts have commented on the company. KeyCorp upgraded Astronics Corp. from a “sector weight” rating to an “overweight” rating in a research note on Wednesday, June 29th. Dougherty & Co boosted their price objective on Astronics Corp. from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, May 5th. Zacks Investment Research upgraded Astronics Corp. from a “sell” rating to a “hold” rating in a research note on Monday, May 2nd. Finally, Canaccord Genuity restated a “buy” rating and set a $45.00 price objective (up previously from $40.00) on shares of Astronics Corp. in a research note on Wednesday, March 16th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Astronics Corp. presently has an average rating of “Buy” and an average target price of $54.40.
The stock has a 50 day moving average price of $35.89 and a 200 day moving average price of $35.27. The firm has a market cap of $886.31 million and a price-to-earnings ratio of 13.47.
Astronics Corp. (NASDAQ:ATRO) last announced its earnings results on Wednesday, May 4th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by $0.08. During the same quarter in the prior year, the business posted $0.41 earnings per share. The business had revenue of $159.53 million for the quarter, compared to the consensus estimate of $167.77 million. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, equities research analysts predict 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 business’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 directly owns 42,600 shares of the company’s stock, valued at approximately $1,623,912. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert T. Brady bought 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 completion of the purchase, the director now owns 20,397 shares in the company, valued at $721,849.83. The disclosure for this purchase can be found here.
Other hedge funds have recently made changes to their positions in the company. Stephens Investment Management Group LLC increased its stake in shares of Astronics Corp. by 11.4% in the fourth quarter. Stephens Investment Management Group LLC now owns 531,195 shares of the company’s stock valued at $21,625,000 after buying an additional 54,200 shares during the period. Eaton Vance Management bought a new position in Astronics Corp. during the fourth quarter worth $9,696,000. Bragg Financial Advisors Inc bought a new position in Astronics Corp. during the fourth quarter worth $1,122,000. Victory Capital Management Inc. increased its position in Astronics Corp. by 21.5% in the fourth quarter. Victory Capital Management Inc. now owns 258,614 shares of the company’s stock worth $10,528,000 after buying an additional 45,847 shares during the period. Finally, Principal Financial Group Inc. increased its position in Astronics Corp. by 20.1% in the fourth quarter. Principal Financial Group Inc. now owns 227,025 shares of the company’s stock worth $9,242,000 after buying an additional 38,046 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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