Astronics (NASDAQ:ATRO) Sets New 1-Year High – Should You Buy?

Astronics Corporation (NASDAQ:ATRO)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $84.81 and last traded at $85.6950, with a volume of 23703 shares trading hands. The stock had previously closed at $82.70.

Analysts Set New Price Targets

Several analysts recently weighed in on ATRO shares. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a report on Sunday. Zacks Research downgraded Astronics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Truist Financial raised shares of Astronics to a “strong-buy” rating in a research report on Monday, May 4th. TD Cowen upped their price target on shares of Astronics from $70.83 to $83.33 and gave the company a “buy” rating in a research note on Thursday, May 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Astronics currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.17.

Astronics Price Performance

The company has a quick ratio of 1.63, a current ratio of 2.97 and a debt-to-equity ratio of 2.07. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of 88.61 and a beta of 1.15. The business’s 50 day simple moving average is $68.37 and its 200-day simple moving average is $60.87.

Astronics (NASDAQ:ATRO) last issued its earnings results on Tuesday, May 12th. The aerospace company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03. The company had revenue of $230.62 million during the quarter, compared to analysts’ expectations of $225.52 million. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.37 EPS. On average, research analysts forecast that Astronics Corporation will post 2.23 earnings per share for the current year.

Institutional Investors Weigh In On Astronics

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATRO. Quarry LP lifted its holdings in shares of Astronics by 33.6% in the fourth quarter. Quarry LP now owns 568 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 143 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Astronics by 19.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,137 shares of the aerospace company’s stock valued at $62,000 after purchasing an additional 188 shares during the last quarter. Allworth Financial LP increased its position in Astronics by 57.1% during the 4th quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 192 shares in the last quarter. US Bancorp DE lifted its stake in Astronics by 41.0% in the 3rd quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock valued at $44,000 after purchasing an additional 281 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its stake in Astronics by 24.5% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 1,525 shares of the aerospace company’s stock valued at $83,000 after purchasing an additional 300 shares during the last quarter. 56.68% of the stock is currently owned by institutional investors.

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.