Astronics (NASDAQ:ATRO) Trading Down 8% – Should You Sell?

Shares of Astronics Corporation (NASDAQ:ATRO) fell 8% during mid-day trading on Wednesday . The stock traded as low as $72.00 and last traded at $73.01. 321,315 shares were traded during trading, a decline of 56% from the average session volume of 736,622 shares. The stock had previously closed at $79.39.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ATRO shares. Wall Street Zen cut Astronics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 7th. TD Cowen initiated coverage on shares of Astronics in a research note on Wednesday, November 26th. They issued a “buy” rating on the stock. CJS Securities upgraded shares of Astronics to a “strong-buy” rating in a research report on Thursday, December 11th. Truist Financial upped their price target on shares of Astronics from $75.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Craig Hallum reissued a “buy” rating on shares of Astronics in a research note on Friday, January 9th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $77.33.

Astronics Stock Performance

The company has a market capitalization of $2.76 billion, a PE ratio of -861.38 and a beta of 1.10. The company has a debt-to-equity ratio of 3.07, a quick ratio of 1.56 and a current ratio of 2.87. The stock’s fifty day simple moving average is $68.84 and its 200-day simple moving average is $53.50.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings results on Tuesday, February 24th. The aerospace company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.12. The business had revenue of $240.07 million during the quarter, compared to the consensus estimate of $237.11 million. Astronics had a negative net margin of 0.37% and a positive return on equity of 29.65%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.46 earnings per share. As a group, equities analysts predict that Astronics Corporation will post 0.82 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Allworth Financial LP boosted its holdings in shares of Astronics by 57.1% during the fourth quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 192 shares during the last quarter. IFP Advisors Inc lifted its position in Astronics by 389.6% during the third quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock worth $26,000 after buying an additional 448 shares during the period. Quarry LP lifted its position in Astronics by 33.6% during the fourth quarter. Quarry LP now owns 568 shares of the aerospace company’s stock worth $31,000 after buying an additional 143 shares during the period. Leonteq Securities AG acquired a new stake in Astronics in the 4th quarter worth about $33,000. Finally, Jones Financial Companies Lllp grew its holdings in Astronics by 166.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 752 shares of the aerospace company’s stock valued at $34,000 after buying an additional 470 shares during the period. 56.68% of the stock is currently owned by institutional investors and hedge funds.

About Astronics

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.