Astronics (NASDAQ:ATRO) Releases Earnings Results, Beats Estimates By $0.09 EPS

Astronics (NASDAQ:ATRO) posted its earnings results on Tuesday. The aerospace company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.09, FiscalAI reports. Astronics had a net margin of 8.40% and a return on equity of 67.69%. The company had revenue of $271.68 million during the quarter, compared to analysts’ expectations of $267.97 million.

Astronics Stock Up 5.1%

ATRO traded up $3.01 during trading hours on Tuesday, hitting $62.00. 845,909 shares of the company’s stock were exchanged, compared to its average volume of 713,798. Astronics has a 1-year low of $38.13 and a 1-year high of $94.46. The stock’s 50-day moving average is $65.63 and its two-hundred day moving average is $67.46. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 36.47 and a beta of 1.37. The company has a quick ratio of 1.63, a current ratio of 2.97 and a debt-to-equity ratio of 1.57.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ATRO. KeyCorp started coverage on Astronics in a report on Thursday, October 22nd. They set a “sector weight” rating on the stock. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Zacks Research downgraded Astronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 7th. Weiss Ratings lowered Astronics from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Finally, TD Cowen reiterated a “buy” rating and issued a $90.00 price target (down from $100.00) on shares of Astronics in a report on Friday, October 9th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $89.58.

About Astronics

Astronics Corporation designs and manufactures technologies for the aerospace, defense and other industries. Its aerospace products include aircraft lighting, electrical power generation and distribution systems, cabin electronics, connectivity solutions and avionics-related equipment used on commercial and military aircraft. The company also develops test systems, including automated equipment used to test aerospace and defense electronics. Astronics serves aircraft manufacturers, airlines, defense organizations and other customers, with products and services reaching markets around the world.