Astronics (NASDAQ:ATRO) Shares Gap Down – Time to Sell?

Astronics Corporation (NASDAQ:ATRO)’s share price gapped down prior to trading on Monday . The stock had previously closed at $96.00, but opened at $81.61. Astronics shares last traded at $77.44, with a volume of 190,542 shares.

Wall Street Analyst Weigh In

ATRO has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Astronics from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Truist Financial raised shares of Astronics to a “strong-buy” rating in a report on Monday, May 4th. TD Cowen raised their price objective on shares of Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a report on Thursday, May 28th. Zacks Research cut shares of Astronics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a report on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $74.17.

Astronics Trading Down 4.0%

The company has a quick ratio of 1.63, a current ratio of 2.97 and a debt-to-equity ratio of 2.07. The business’s fifty day simple moving average is $78.72 and its two-hundred day simple moving average is $70.96. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 65.75 and a beta of 1.15.

Astronics (NASDAQ:ATRO) last announced its earnings results on Tuesday, May 12th. The aerospace company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. The business had revenue of $230.62 million for the quarter, compared to analysts’ expectations of $225.52 million. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The company’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.37 EPS. On average, equities analysts predict that Astronics Corporation will post 2.68 EPS for the current year.

Hedge Funds Weigh In On Astronics

A number of institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC increased its holdings in shares of Astronics by 5.2% in the 1st quarter. NewEdge Advisors LLC now owns 19,276 shares of the aerospace company’s stock valued at $1,286,000 after acquiring an additional 945 shares during the period. Optiver Holding B.V. increased its holdings in shares of Astronics by 3,921.4% in the 1st quarter. Optiver Holding B.V. now owns 563 shares of the aerospace company’s stock valued at $38,000 after acquiring an additional 549 shares during the period. Bank of America Corp DE increased its holdings in shares of Astronics by 81.9% in the 1st quarter. Bank of America Corp DE now owns 199,722 shares of the aerospace company’s stock valued at $13,327,000 after acquiring an additional 89,950 shares during the period. RBF Capital LLC acquired a new position in shares of Astronics in the 1st quarter valued at $6,698,000. Finally, Sunbelt Securities Inc. increased its holdings in shares of Astronics by 8,950.0% in the 1st quarter. Sunbelt Securities Inc. now owns 1,086 shares of the aerospace company’s stock valued at $72,000 after acquiring an additional 1,074 shares during the period. 56.68% of the stock is owned by institutional investors and hedge funds.

About Astronics

Astronics Corporation (NASDAQ: ATRO) is a global leader in the design and manufacture of advanced technologies primarily for the aerospace, defense and semiconductor industries. Headquartered in East Aurora, New York, the company was founded in 1968 and has grown through a combination of internal development and strategic acquisitions. Astronics operates multiple business units focused on power conversion, distribution and control; cabin electronics and connectivity; aircraft lighting and safety solutions; and automated test systems.

The company’s aerospace products include onboard power generation and management systems, in-flight entertainment and connectivity hardware, LED and fluorescent lighting for aircraft cabins and cockpits, and safety equipment such as escape slide power units.