Astronics (NASDAQ:ATRO) Trading 4.9% Higher – Time to Buy?

Astronics Co. (NASDAQ:ATRO)’s share price traded up 4.9% during mid-day trading on Friday . The company traded as high as $20.30 and last traded at $20.30. 17,996 shares traded hands during trading, a decline of 88% from the average session volume of 144,371 shares. The stock had previously closed at $19.35.

Analyst Ratings Changes

Separately, Truist Financial boosted their price objective on shares of Astronics from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, August 2nd.

Astronics Trading Up 5.0 %

The company has a current ratio of 2.92, a quick ratio of 1.50 and a debt-to-equity ratio of 0.67. The stock’s 50-day simple moving average is $19.80 and its 200-day simple moving average is $19.52.

Astronics (NASDAQ:ATRO) last announced its earnings results on Thursday, August 1st. The aerospace company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.13). Astronics had a negative net margin of 1.57% and a negative return on equity of 0.31%. The business had revenue of $198.11 million for the quarter, compared to the consensus estimate of $191.19 million. During the same quarter last year, the firm posted ($0.37) EPS. On average, analysts forecast that Astronics Co. will post 0.36 earnings per share for the current year.

Institutional Trading of Astronics

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC boosted its stake in Astronics by 115.4% in the 3rd quarter. SG Americas Securities LLC now owns 11,387 shares of the aerospace company’s stock worth $222,000 after purchasing an additional 6,101 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Astronics in the 2nd quarter worth about $25,000. Algert Global LLC bought a new position in Astronics in the 2nd quarter worth about $240,000. The Manufacturers Life Insurance Company boosted its stake in Astronics by 10.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,195 shares of the aerospace company’s stock worth $224,000 after purchasing an additional 1,094 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Astronics by 11.1% in the 2nd quarter. AQR Capital Management LLC now owns 37,793 shares of the aerospace company’s stock worth $757,000 after purchasing an additional 3,786 shares in the last quarter. Institutional investors own 56.68% of the company’s stock.

Astronics Company Profile

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.