Astronics (NASDAQ:ATRO) Share Price Passes Above Two Hundred Day Moving Average of $16.87

Astronics Co. (NASDAQ:ATRO) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.87 and traded as high as $16.98. Astronics shares last traded at $16.46, with a volume of 97,734 shares.

Wall Street Analyst Weigh In

ATRO has been the topic of several research analyst reports. Truist Financial raised their target price on shares of Astronics from $18.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday, March 1st. StockNews.com raised shares of Astronics from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th.

Astronics Price Performance

The company’s 50-day moving average is $18.09 and its 200-day moving average is $16.87. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.72 and a quick ratio of 1.38. The firm has a market capitalization of $568.20 million, a price-to-earnings ratio of -20.07 and a beta of 1.62.

Astronics (NASDAQ:ATRO) last released its earnings results on Wednesday, February 28th. The aerospace company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.08. The business had revenue of $195.29 million for the quarter, compared to analysts’ expectations of $188.35 million. Astronics had a negative net margin of 3.83% and a negative return on equity of 6.53%. On average, research analysts expect that Astronics Co. will post 0.71 earnings per share for the current year.

Insider Buying and Selling at Astronics

In other Astronics news, EVP Michael C. Kuehn sold 2,209 shares of Astronics stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $20.16, for a total transaction of $44,533.44. Following the transaction, the executive vice president now directly owns 14,248 shares of the company’s stock, valued at $287,239.68. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Michael C. Kuehn sold 2,209 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $20.16, for a total transaction of $44,533.44. Following the transaction, the executive vice president now directly owns 14,248 shares of the company’s stock, valued at $287,239.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael C. Kuehn sold 7,074 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $17.72, for a total transaction of $125,351.28. Following the transaction, the executive vice president now directly owns 12,875 shares in the company, valued at $228,145. The disclosure for this sale can be found here. 10.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. BKM Wealth Management LLC bought a new stake in shares of Astronics in the fourth quarter worth $64,000. Psagot Value Holdings Ltd. Israel increased its stake in shares of Astronics by 856.5% in the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 4,352 shares of the aerospace company’s stock worth $77,000 after buying an additional 3,897 shares during the last quarter. RiverPark Advisors LLC bought a new stake in shares of Astronics in the third quarter worth $75,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Astronics in the third quarter worth $178,000. Finally, Clear Rock Advisors LLC bought a new stake in shares of Astronics in the fourth quarter worth $204,000. 56.68% of the stock is owned by institutional investors and hedge funds.

About Astronics

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.