Astronics Corp. (ATRO) Shares Up 3.4%
Astronics Corp. (NASDAQ:ATRO)’s share price shot up 3.4% during trading on Wednesday . The stock traded as high as $37.59 and last traded at $37.57, with a volume of 53,458 shares traded. The stock had previously closed at $36.35.
Several research firms have commented on ATRO. KeyCorp upgraded shares of Astronics Corp. from a “sector weight” rating to an “overweight” rating in a research note on Wednesday, June 29th. Dougherty & Co boosted their price target on shares of Astronics Corp. from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, May 5th. Finally, Zacks Investment Research upgraded shares of Astronics Corp. from a “sell” rating to a “hold” rating in a research note on Monday, May 2nd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $54.40.
The stock has a market capitalization of $970.53 million and a price-to-earnings ratio of 14.75. The stock has a 50 day moving average of $35.09 and a 200-day moving average of $34.92.
Astronics Corp. (NASDAQ:ATRO) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $0.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.08. During the same quarter in the prior year, the company 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% compared to the same quarter last year. Equities analysts anticipate that Astronics Corp. will post $2.26 earnings per share for the current year.
In related news, Director Robert T. Brady purchased 4,500 shares of the business’s stock in a transaction on Wednesday, May 18th. The shares were bought at an average price of $35.39 per share, with a total value of $159,255.00. Following the completion of the purchase, the director now directly owns 20,397 shares in the company, valued at approximately $721,849.83. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP James S. Kramer sold 3,000 shares of the stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $38.12, for a total transaction of $114,360.00. Following the transaction, the executive vice president now directly owns 42,600 shares in the company, valued at approximately $1,623,912. The disclosure for this sale can be found here.
A number of institutional investors recently bought and sold shares of ATRO. Bragg Financial Advisors Inc bought a new position in Astronics Corp. during the fourth quarter worth $1,122,000. Comerica Bank increased its position in Astronics Corp. by 0.5% in the fourth quarter. Comerica Bank now owns 28,721 shares of the company’s stock worth $1,044,000 after buying an additional 134 shares in the last quarter. New York State Common Retirement Fund increased its position in Astronics Corp. by 63.5% in the fourth quarter. New York State Common Retirement Fund now owns 53,286 shares of the company’s stock worth $2,169,000 after buying an additional 20,694 shares in the last quarter. State of Wisconsin Investment Board increased 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 in the last quarter. 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 in the last quarter.
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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