Astronics (NASDAQ:ATRO) Announces Earnings Results, Misses Expectations By $0.14 EPS

Astronics (NASDAQ:ATRO) issued its earnings results on Thursday. The aerospace company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.14), Yahoo Finance reports. Astronics had a negative return on equity of 6.02% and a negative net margin of 3.51%. The firm had revenue of $185.07 million during the quarter, compared to analyst estimates of $172.74 million. During the same period in the previous year, the company earned ($0.14) EPS.

Astronics Stock Up 6.7 %

Shares of ATRO opened at $18.37 on Friday. The stock’s 50-day moving average price is $17.75 and its two-hundred day moving average price is $16.93. Astronics has a 12 month low of $14.06 and a 12 month high of $22.44. The company has a market capitalization of $634.13 million, a PE ratio of -23.86 and a beta of 1.64. The company has a current ratio of 2.72, a quick ratio of 1.38 and a debt-to-equity ratio of 0.64.

Insider Buying and Selling at Astronics

In other Astronics news, EVP Michael C. Kuehn sold 7,074 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $17.72, for a total transaction of $125,351.28. Following the completion of the sale, the executive vice president now owns 12,875 shares of the company’s stock, valued at approximately $228,145. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Michael C. Kuehn sold 2,209 shares of Astronics stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $20.16, for a total value of $44,533.44. Following the completion of the transaction, the executive vice president now directly owns 14,248 shares of the company’s stock, valued at approximately $287,239.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael C. Kuehn sold 7,074 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $17.72, for a total value of $125,351.28. Following the completion of 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. Corporate insiders own 10.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ATRO shares. StockNews.com raised Astronics from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. Truist Financial decreased their price target on shares of Astronics from $21.00 to $19.00 and set a “hold” rating for the company in a research report on Friday.

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.