Astronics (NASDAQ:ATRO) Shares Down 9.3%

Astronics Co. (NASDAQ:ATRO)’s share price was down 9.3% during mid-day trading on Monday . The company traded as low as $18.16 and last traded at $18.26. Approximately 219,844 shares traded hands during mid-day trading, an increase of 50% from the average daily volume of 146,537 shares. The stock had previously closed at $20.14.

Analyst Ratings Changes

Separately, Truist Financial boosted their price target on shares of Astronics from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Friday.

Astronics Stock Performance

The company’s fifty day moving average price is $20.47 and its two-hundred day moving average price is $18.98. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.27 and a current ratio of 2.59. The firm has a market capitalization of $637.61 million, a PE ratio of -23.77 and a beta of 1.87.

Astronics (NASDAQ:ATRO) last released its quarterly earnings data 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 return on equity of 0.31% and a negative net margin of 1.57%. The business had revenue of $198.11 million during the quarter, compared to analyst estimates of $191.19 million. During the same period in the prior year, the firm earned ($0.37) EPS. As a group, equities analysts expect that Astronics Co. will post 0.49 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ATRO. American International Group Inc. increased its holdings in shares of Astronics by 4.5% during the 1st quarter. American International Group Inc. now owns 13,662 shares of the aerospace company’s stock worth $260,000 after acquiring an additional 589 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Astronics in the second quarter valued at about $28,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Astronics in the first quarter valued at about $31,000. Russell Investments Group Ltd. boosted its position in shares of Astronics by 9.6% during the 1st quarter. Russell Investments Group Ltd. now owns 23,900 shares of the aerospace company’s stock valued at $455,000 after purchasing an additional 2,100 shares in the last quarter. Finally, RiverPark Advisors LLC boosted its holdings in Astronics by 9.6% in the second quarter. RiverPark Advisors LLC now owns 29,379 shares of the aerospace company’s stock worth $588,000 after acquiring an additional 2,577 shares in the last quarter. 56.68% of the stock is owned by 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.