Astronics (NASDAQ:ATRO) Shares Gap Up – Still a Buy?

Astronics Co. (NASDAQ:ATRO)’s share price gapped up prior to trading on Friday . The stock had previously closed at $18.78, but opened at $19.65. Astronics shares last traded at $19.63, with a volume of 111,996 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ATRO shares. StockNews.com upgraded shares of Astronics from a “hold” rating to a “buy” rating in a report on Wednesday, February 5th. Truist Financial reduced their price objective on Astronics from $20.00 to $17.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th.

Astronics Stock Performance

The stock’s 50-day moving average is $17.04 and its 200 day moving average is $18.17. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.46 and a current ratio of 2.83. The firm has a market cap of $706.26 million, a P/E ratio of -106.42 and a beta of 1.79.

Institutional Investors Weigh In On Astronics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC lifted its stake in Astronics by 881.6% in the fourth quarter. Millennium Management LLC now owns 414,823 shares of the aerospace company’s stock valued at $6,621,000 after acquiring an additional 372,565 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its position in Astronics by 58.7% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 881,504 shares of the aerospace company’s stock worth $14,069,000 after buying an additional 325,904 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Astronics by 493.7% in the fourth quarter. Ameriprise Financial Inc. now owns 363,286 shares of the aerospace company’s stock valued at $5,798,000 after acquiring an additional 302,092 shares during the period. Royce & Associates LP grew its stake in shares of Astronics by 18.7% in the fourth quarter. Royce & Associates LP now owns 1,150,355 shares of the aerospace company’s stock valued at $18,360,000 after acquiring an additional 181,619 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Astronics by 139.3% during the fourth quarter. Renaissance Technologies LLC now owns 286,700 shares of the aerospace company’s stock worth $4,576,000 after acquiring an additional 166,900 shares during the period. Institutional investors 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.