Astronics (NASDAQ:ATRO) Announces Earnings Results

Astronics (NASDAQ:ATRO) released its quarterly earnings results on Tuesday. The aerospace company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.09, Zacks reports. Astronics had a positive return on equity of 22.89% and a negative net margin of 0.45%. Astronics updated its FY 2025 guidance to EPS.

Astronics Stock Down 1.5%

Shares of NASDAQ:ATRO traded down $0.75 during trading on Tuesday, hitting $47.99. The stock had a trading volume of 941,363 shares, compared to its average volume of 592,308. Astronics has a 12 month low of $14.13 and a 12 month high of $51.88. The company has a market capitalization of $1.70 billion, a PE ratio of -399.88 and a beta of 1.68. The firm’s fifty day moving average is $44.04 and its 200 day moving average is $35.86. The company has a quick ratio of 1.63, a current ratio of 3.04 and a debt-to-equity ratio of 0.59.

Insider Activity

In other news, insider James Mulato sold 1,129 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $38.16, for a total value of $43,082.64. Following the completion of the transaction, the insider owned 1,066 shares of the company’s stock, valued at approximately $40,678.56. This represents a 51.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.39% of the company’s stock.

Institutional Trading of Astronics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC purchased a new stake in shares of Astronics in the 2nd quarter worth approximately $330,000. Qube Research & Technologies Ltd lifted its holdings in shares of Astronics by 193.7% during the 2nd quarter. Qube Research & Technologies Ltd now owns 173,199 shares of the aerospace company’s stock valued at $5,799,000 after buying an additional 114,230 shares during the period. Gamco Investors INC. ET AL lifted its holdings in shares of Astronics by 13.0% during the 2nd quarter. Gamco Investors INC. ET AL now owns 20,798 shares of the aerospace company’s stock valued at $696,000 after buying an additional 2,398 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Astronics by 147.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock valued at $30,000 after buying an additional 533 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Astronics by 152.6% during the 2nd quarter. Invesco Ltd. now owns 128,465 shares of the aerospace company’s stock valued at $4,301,000 after buying an additional 77,614 shares during the period. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ATRO. Craig Hallum began coverage on Astronics in a research report on Friday, October 10th. They set a “buy” rating and a $60.00 price target for the company. Wall Street Zen raised Astronics from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Zacks Research lowered Astronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research report on Wednesday, October 8th. Finally, Truist Financial upped their price target on Astronics from $49.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Astronics currently has an average rating of “Hold” and a consensus target price of $59.00.

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.