Astronics (ATRO) Reaches New 12-Month High at $41.44

Astronics Co. (NASDAQ:ATRO)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $41.44 and last traded at $41.57, with a volume of 4174 shares trading hands. The stock had previously closed at $40.39.

ATRO has been the topic of a number of analyst reports. Zacks Investment Research cut Astronics from a “hold” rating to a “sell” rating in a research report on Wednesday, February 6th. BidaskClub raised shares of Astronics from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. Seaport Global Securities assumed coverage on shares of Astronics in a report on Wednesday, May 1st. They issued a “buy” rating and a $42.00 price target for the company. Finally, ValuEngine raised shares of Astronics from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Astronics has an average rating of “Buy” and an average target price of $41.67.

The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 29.33, a PEG ratio of 2.18 and a beta of 1.79. The company has a current ratio of 2.44, a quick ratio of 1.50 and a debt-to-equity ratio of 0.25.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings data on Wednesday, May 8th. The aerospace company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.11. The firm had revenue of $208.20 million for the quarter, compared to the consensus estimate of $192.10 million. Astronics had a net margin of 14.61% and a return on equity of 15.16%. Astronics’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period last year, the firm posted $0.11 EPS. As a group, sell-side analysts expect that Astronics Co. will post 1.92 EPS for the current year.

A number of large investors have recently modified their holdings of ATRO. Renaissance Technologies LLC grew its position in Astronics by 44.9% during the 3rd quarter. Renaissance Technologies LLC now owns 26,800 shares of the aerospace company’s stock worth $1,166,000 after acquiring an additional 8,300 shares during the last quarter. Jane Street Group LLC bought a new position in Astronics during the 3rd quarter worth approximately $230,000. MetLife Investment Advisors LLC grew its position in Astronics by 54.9% during the 3rd quarter. MetLife Investment Advisors LLC now owns 16,080 shares of the aerospace company’s stock worth $699,000 after acquiring an additional 5,698 shares during the last quarter. Morgan Stanley grew its position in Astronics by 12.6% during the 3rd quarter. Morgan Stanley now owns 52,478 shares of the aerospace company’s stock worth $2,283,000 after acquiring an additional 5,869 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Astronics by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,187,299 shares of the aerospace company’s stock worth $51,648,000 after buying an additional 30,545 shares during the last quarter. Hedge funds and other institutional investors own 67.08% of the company’s stock.

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About Astronics (NASDAQ:ATRO)

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, electronics, and semiconductor industries worldwide. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems; electrical power generation, distribution, and motions systems; aircraft structures; avionics products; system certification; and connectivity and other products.

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