Astronics (NASDAQ:ATRO) Shares Down 9.3%

Astronics Co. (NASDAQ:ATRO)’s stock price dropped 9.3% during trading on Monday . The company traded as low as $18.16 and last traded at $18.26. Approximately 219,844 shares changed hands during mid-day trading, an increase of 50% from the average daily volume of 146,537 shares. The stock had previously closed at $20.14.

Wall Street Analysts Forecast Growth

Separately, Truist Financial boosted their target price on shares of Astronics from $20.00 to $22.00 and gave the company a “hold” rating in a report on Friday, August 2nd.

Astronics Trading Down 0.2 %

The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.27 and a current ratio of 2.59. The firm has a market capitalization of $640.05 million, a PE ratio of -23.86 and a beta of 1.87. The stock’s 50-day simple moving average is $20.31 and its 200-day simple moving average is $18.99.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Thursday, August 1st. The aerospace company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.13). Astronics had a negative net margin of 1.57% and a negative return on equity of 0.31%. The company had revenue of $198.11 million for the quarter, compared to the consensus estimate of $191.19 million. During the same period last year, the business earned ($0.37) EPS. As a group, sell-side analysts expect that Astronics Co. will post 0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Astronics

Several institutional investors have recently added to or reduced their stakes in the company. Bares Capital Management Inc. grew its stake in Astronics by 12.8% in the 4th quarter. Bares Capital Management Inc. now owns 814,692 shares of the aerospace company’s stock worth $14,192,000 after acquiring an additional 92,574 shares in the last quarter. Senator Investment Group LP lifted its stake in Astronics by 7.3% in the first quarter. Senator Investment Group LP now owns 545,754 shares of the aerospace company’s stock worth $10,391,000 after acquiring an additional 36,980 shares during the period. BNP Paribas Financial Markets grew its holdings in Astronics by 289.2% during the 4th quarter. BNP Paribas Financial Markets now owns 38,931 shares of the aerospace company’s stock worth $678,000 after acquiring an additional 28,928 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in Astronics during the 4th quarter valued at about $465,000. Finally, Advisors Asset Management Inc. lifted its position in shares of Astronics by 103.1% in the 1st quarter. Advisors Asset Management Inc. now owns 47,322 shares of the aerospace company’s stock worth $901,000 after purchasing an additional 24,027 shares during the period. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Astronics Company Profile

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.