Astronics (NASDAQ:ATRO) Shares Pass Above Two Hundred Day Moving Average of $18.17

Astronics Co. (NASDAQ:ATRO) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $18.17 and traded as high as $20.20. Astronics shares last traded at $19.69, with a volume of 112,581 shares changing hands.

Wall Street Analyst Weigh In

Separately, Truist Financial lowered their price objective on Astronics from $21.00 to $19.00 and set a “hold” rating for the company in a research report on Friday, May 3rd.

Astronics Stock Performance

The firm has a market capitalization of $710.78 million, a price-to-earnings ratio of -26.49 and a beta of 1.87. The company has a quick ratio of 1.27, a current ratio of 2.59 and a debt-to-equity ratio of 0.61. The stock has a 50-day moving average price of $19.32 and a 200 day moving average price of $18.21.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings results on Thursday, May 2nd. The aerospace company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.14). The business had revenue of $185.07 million during the quarter, compared to analyst estimates of $172.74 million. Astronics had a negative net margin of 3.51% and a negative return on equity of 5.93%. During the same period last year, the company earned ($0.14) earnings per share. On average, analysts forecast that Astronics Co. will post 0.53 EPS for the current year.

Hedge Funds Weigh In On Astronics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bares Capital Management Inc. boosted its holdings in Astronics by 12.8% in the fourth quarter. Bares Capital Management Inc. now owns 814,692 shares of the aerospace company’s stock valued at $14,192,000 after purchasing an additional 92,574 shares in the last quarter. Vanguard Group Inc. lifted its stake in Astronics by 1.6% in the third quarter. Vanguard Group Inc. now owns 1,384,253 shares of the aerospace company’s stock valued at $21,954,000 after buying an additional 21,353 shares during the last quarter. SG Americas Securities LLC lifted its stake in Astronics by 28.0% in the fourth quarter. SG Americas Securities LLC now owns 14,900 shares of the aerospace company’s stock valued at $260,000 after buying an additional 3,257 shares during the last quarter. BKM Wealth Management LLC purchased a new stake in Astronics in the fourth quarter valued at approximately $64,000. Finally, Janney Montgomery Scott LLC purchased a new stake in Astronics in the fourth quarter valued at approximately $465,000. 56.68% of the stock is owned by institutional investors and hedge funds.

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.