Astronics Corp. (ATRO) Trading 3.4% Higher
Astronics Corp. (NASDAQ:ATRO) shares traded up 3.4% during mid-day trading on Wednesday . The company traded as high as $37.59 and last traded at $37.57, with a volume of 53,458 shares trading hands. The stock had previously closed at $36.35.
A number of research analysts have recently issued reports on the company. KeyCorp raised Astronics Corp. from a “sector weight” rating to an “overweight” rating in a report on Wednesday, June 29th. Dougherty & Co boosted their target price on Astronics Corp. from $50.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, May 5th. Finally, Zacks Investment Research raised Astronics Corp. from a “sell” rating to a “hold” rating in a report on Monday, May 2nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $54.40.
The firm has a market cap of $968.74 million and a PE ratio of 14.72. The firm has a 50-day moving average price of $35.01 and a 200 day moving average price of $34.97.
Astronics Corp. (NASDAQ:ATRO) last released its earnings results on Wednesday, May 4th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by $0.08. The business earned $159.53 million during the quarter, compared to the consensus estimate of $167.77 million. The firm’s revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. On average, equities research analysts expect that Astronics Corp. will post $2.26 EPS for the current fiscal year.
In other news, Director Robert T. Brady bought 4,500 shares of Astronics Corp. 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 acquisition, the director now directly owns 20,397 shares in the company, valued at approximately $721,849.83. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value 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 hedge funds and institutional investors have recently added to or reduced their stakes in the company. Stephens Investment Management Group LLC increased 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 in the last quarter. Eaton Vance Management purchased a new position in Astronics Corp. during the fourth quarter worth approximately $9,696,000. Bragg Financial Advisors Inc purchased a new position in Astronics Corp. during the fourth quarter worth approximately $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 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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