Astronics (NASDAQ:ATRO) Reaches New 52-Week High Following Analyst Upgrade

Astronics Co. (NASDAQ:ATRO – Get Rating)’s stock price reached a new 52-week high during mid-day trading on Wednesday after Truist Financial raised their price target on the stock from $13.00 to $15.00. The company traded as high as $17.08 and last traded at $15.82, with a volume of 31446 shares changing hands. The stock had previously closed at $15.10.

A number of other analysts have also commented on ATRO. TheStreet raised shares of Astronics from a “d” rating to a “c-” rating in a report on Thursday, March 2nd. StockNews.com initiated coverage on shares of Astronics in a report on Thursday, March 16th. They issued a “hold” rating for the company.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ATRO. BlackRock Inc. grew its position in shares of Astronics by 2.5% during the 1st quarter. BlackRock Inc. now owns 2,122,674 shares of the aerospace company’s stock worth $27,446,000 after purchasing an additional 52,176 shares in the last quarter. Vanguard Group Inc. grew its holdings in Astronics by 26.6% in the third quarter. Vanguard Group Inc. now owns 1,574,964 shares of the aerospace company’s stock worth $12,379,000 after purchasing an additional 330,858 shares during the period. Dimensional Fund Advisors LP grew its holdings in Astronics by 6.6% in the third quarter. Dimensional Fund Advisors LP now owns 925,407 shares of the aerospace company’s stock worth $7,275,000 after purchasing an additional 57,413 shares during the period. State Street Corp grew its holdings in shares of Astronics by 2.1% during the second quarter. State Street Corp now owns 481,965 shares of the aerospace company’s stock valued at $4,902,000 after buying an additional 9,927 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Astronics by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 477,926 shares of the aerospace company’s stock valued at $4,922,000 after buying an additional 16,681 shares during the last quarter. Institutional investors and hedge funds own 57.19% of the company’s stock.

Astronics Price Performance

The stock has a market capitalization of $511.96 million, a price-to-earnings ratio of -14.29 and a beta of 1.56. The business’s fifty day moving average price is $14.24 and its 200-day moving average price is $12.17. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.41 and a quick ratio of 1.17.

Astronics (NASDAQ:ATRO – Get Rating) last announced its quarterly earnings data on Thursday, March 2nd. The aerospace company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.05). The company had revenue of $158.15 million during the quarter, compared to the consensus estimate of $157.50 million. Astronics had a negative return on equity of 18.09% and a negative net margin of 6.68%. On average, research analysts forecast that Astronics Co. will post 0.03 EPS for the current year.

About Astronics

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Astronics Corp. engages in the provision of electrical power generation and distribution systems. It includes motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification, and automated test systems. It operates through the Aerospace and Test Systems segments.