Astronics (NASDAQ:ATRO) Reaches New 1-Year High – Here’s Why

Astronics Corporation (NASDAQ:ATROGet Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as $59.95 and last traded at $58.25, with a volume of 841987 shares trading hands. The stock had previously closed at $59.48.

Trending Headlines about Astronics

Here are the key news stories impacting Astronics this week:

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. TD Cowen initiated coverage on shares of Astronics in a research report on Wednesday, November 26th. They set a “buy” rating and a $65.00 target price for the company. Cowen initiated coverage on Astronics in a report on Wednesday, November 26th. They issued a “buy” rating for the company. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 10th. Zacks Research downgraded Astronics from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, CJS Securities upgraded Astronics to a “strong-buy” rating in a research report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.67.

Read Our Latest Stock Report on Astronics

Astronics Stock Performance

The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of -734.92 and a beta of 1.10. The firm has a fifty day simple moving average of $52.81 and a 200 day simple moving average of $43.91. The company has a debt-to-equity ratio of 3.07, a current ratio of 2.87 and a quick ratio of 1.56.

Astronics (NASDAQ:ATROGet Free Report) last announced its earnings results on Tuesday, November 4th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07. Astronics had a positive return on equity of 29.65% and a negative net margin of 0.37%.The firm had revenue of $211.45 million for the quarter, compared to analyst estimates of $210.80 million. On average, analysts anticipate that Astronics Corporation will post 0.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Capital International Investors acquired a new stake in Astronics in the 3rd quarter worth about $64,173,000. Luxor Capital Group LP purchased a new position in shares of Astronics in the third quarter valued at approximately $52,698,000. Hennessy Advisors Inc. acquired a new stake in shares of Astronics in the second quarter worth approximately $15,046,000. Millennium Management LLC increased its position in shares of Astronics by 80.1% during the first quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock worth $18,054,000 after purchasing an additional 332,133 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Astronics by 659.8% in the 2nd quarter. American Century Companies Inc. now owns 339,947 shares of the aerospace company’s stock valued at $11,381,000 after purchasing an additional 295,208 shares during the last quarter. Institutional investors and hedge funds own 56.68% of the company’s stock.

About Astronics

(Get Free Report)

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.

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