Astronics (NASDAQ:ATRO) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Astronics Corporation (NASDAQ:ATRO)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $58.73 and traded as high as $67.90. Astronics shares last traded at $67.86, with a volume of 653,045 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ATRO. Zacks Research upgraded Astronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Wall Street Zen raised shares of Astronics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a research note on Wednesday, January 21st. CJS Securities upgraded shares of Astronics to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Truist Financial lifted their target price on shares of Astronics from $75.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Astronics has a consensus rating of “Buy” and a consensus price target of $77.33.

Astronics Trading Up 2.8%

The company has a 50 day moving average of $74.86 and a 200 day moving average of $58.73. The firm has a market cap of $2.42 billion, a P/E ratio of 88.13 and a beta of 1.06. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.71 and a current ratio of 3.10.

Astronics (NASDAQ:ATRO) last posted its earnings results on Tuesday, February 24th. The aerospace company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.12. The firm had revenue of $240.07 million during the quarter, compared to analysts’ expectations of $237.11 million. Astronics had a net margin of 3.41% and a return on equity of 39.95%. The company’s revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.46 earnings per share. Analysts predict that Astronics Corporation will post 0.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Astronics

Large investors have recently bought and sold shares of the business. IFP Advisors Inc raised its holdings in Astronics by 389.6% during the third quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock valued at $26,000 after buying an additional 448 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Astronics by 57.1% during the 4th quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 192 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Astronics by 147.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock valued at $30,000 after acquiring an additional 533 shares in the last quarter. Quarry LP lifted its holdings in Astronics by 33.6% in the 4th quarter. Quarry LP now owns 568 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 143 shares during the last quarter. Finally, Leonteq Securities AG acquired a new stake in Astronics in the 4th quarter worth approximately $33,000. 56.68% of the stock is currently owned by institutional investors.

About Astronics

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.