Astronics (NASDAQ:ATRO) Shares Pass Above Two Hundred Day Moving Average of $18.17

Astronics Co. (NASDAQ:ATRO)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $18.17 and traded as high as $20.20. Astronics shares last traded at $19.69, with a volume of 112,581 shares.

Wall Street Analyst Weigh In

Separately, Truist Financial cut their price objective on shares of Astronics from $21.00 to $19.00 and set a “hold” rating on the stock in a report on Friday, May 3rd.

Astronics Trading Up 0.2 %

The company has a debt-to-equity ratio of 0.61, a current ratio of 2.59 and a quick ratio of 1.27. The stock has a market cap of $710.78 million, a price-to-earnings ratio of -26.49 and a beta of 1.87. The company’s fifty day moving average price is $19.32 and its 200-day moving average price is $18.21.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Thursday, May 2nd. The aerospace company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.14). Astronics had a negative net margin of 3.51% and a negative return on equity of 5.93%. The company had revenue of $185.07 million for the quarter, compared to analyst estimates of $172.74 million. During the same quarter last year, the company earned ($0.14) EPS. On average, research analysts expect that Astronics Co. will post 0.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Astronics

A number of institutional investors have recently bought and sold shares of the business. ACK Asset Management LLC raised its position in Astronics by 1.6% during the 4th quarter. ACK Asset Management LLC now owns 1,529,000 shares of the aerospace company’s stock worth $26,635,000 after buying an additional 24,000 shares during the last quarter. Vanguard Group Inc. raised its position in Astronics by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 1,448,121 shares of the aerospace company’s stock worth $27,572,000 after buying an additional 23,444 shares during the last quarter. Bares Capital Management Inc. raised its position in Astronics by 10.4% during the 1st quarter. Bares Capital Management Inc. now owns 899,351 shares of the aerospace company’s stock worth $17,124,000 after buying an additional 84,659 shares during the last quarter. Senator Investment Group LP raised its position in Astronics by 7.3% during the 1st quarter. Senator Investment Group LP now owns 545,754 shares of the aerospace company’s stock worth $10,391,000 after buying an additional 36,980 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its position in Astronics by 4.4% during the 1st quarter. First Eagle Investment Management LLC now owns 360,876 shares of the aerospace company’s stock worth $6,871,000 after buying an additional 15,300 shares during the last quarter. 56.68% of the stock is owned by hedge funds and other institutional investors.

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.