Astronics (NASDAQ:ATRO) Sees Strong Trading Volume – Should You Buy?

Shares of Astronics Co. (NASDAQ:ATRO) saw an uptick in trading volume on Thursday . 184,970 shares traded hands during trading, a decline of 25% from the previous session’s volume of 245,981 shares.The stock last traded at $24.80 and had previously closed at $25.08.

Analysts Set New Price Targets

Several brokerages have commented on ATRO. StockNews.com raised Astronics from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Truist Financial lifted their price objective on Astronics from $17.00 to $23.00 and gave the stock a “hold” rating in a research note on Wednesday, March 5th.

Astronics Stock Performance

The company’s 50-day moving average price is $19.96 and its two-hundred day moving average price is $18.61. The company has a market capitalization of $894.07 million, a price-to-earnings ratio of -133.41 and a beta of 1.74. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings results on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.27. Astronics had a positive return on equity of 6.94% and a negative net margin of 0.82%. The firm had revenue of $208.54 million during the quarter, compared to the consensus estimate of $194.91 million. During the same period last year, the business posted $0.35 EPS. On average, equities research analysts anticipate that Astronics Co. will post 0.82 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robert S. Keane sold 77,099 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $24.55, for a total transaction of $1,892,780.45. Following the completion of the sale, the director now owns 6,346 shares of the company’s stock, valued at $155,794.30. This trade represents a 92.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 10.86% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio increased its stake in Astronics by 167.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 4,156 shares of the aerospace company’s stock valued at $66,000 after purchasing an additional 2,600 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Astronics by 75.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,687 shares of the aerospace company’s stock valued at $937,000 after buying an additional 25,146 shares during the period. Squarepoint Ops LLC bought a new stake in Astronics in the 4th quarter valued at about $1,022,000. Two Sigma Advisers LP raised its stake in Astronics by 85.8% during the 4th quarter. Two Sigma Advisers LP now owns 99,400 shares of the aerospace company’s stock worth $1,586,000 after buying an additional 45,900 shares during the period. Finally, Two Sigma Investments LP boosted its holdings in Astronics by 159.1% in the fourth quarter. Two Sigma Investments LP now owns 177,148 shares of the aerospace company’s stock worth $2,827,000 after acquiring an additional 108,769 shares in the last quarter. Institutional investors and hedge funds own 56.68% of the company’s stock.

About Astronics

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.