Astronics (NASDAQ:ATRO) Sees Large Volume Increase – Should You Buy?

Astronics Co. (NASDAQ:ATRO) shares saw unusually-strong trading volume on Thursday . Approximately 184,970 shares were traded during trading, a decline of 25% from the previous session’s volume of 245,981 shares.The stock last traded at $24.80 and had previously closed at $25.08.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. StockNews.com upgraded Astronics from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Truist Financial boosted their price objective on shares of Astronics from $17.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, March 5th.

Astronics Price Performance

The stock has a market cap of $886.66 million, a PE ratio of -132.08 and a beta of 1.74. 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 stock’s 50-day moving average is $19.58 and its two-hundred day moving average is $18.55.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings data on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.27. Astronics had a positive return on equity of 6.94% and a negative net margin of 0.82%. The business had revenue of $208.54 million during the quarter, compared to analysts’ expectations of $194.91 million. During the same period in the previous year, the firm posted $0.35 earnings per share. On average, equities analysts predict that Astronics Co. will post 0.82 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Robert S. Keane sold 77,099 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $24.55, for a total transaction of $1,892,780.45. Following the sale, the director now directly owns 6,346 shares of the company’s stock, valued at $155,794.30. This represents a 92.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 10.86% of the company’s stock.

Institutional Trading of Astronics

Several hedge funds have recently modified their holdings of ATRO. Public Employees Retirement System of Ohio increased its holdings in Astronics by 167.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 4,156 shares of the aerospace company’s stock worth $66,000 after purchasing an additional 2,600 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Astronics by 75.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,687 shares of the aerospace company’s stock worth $937,000 after buying an additional 25,146 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Astronics during the fourth quarter worth approximately $1,022,000. Two Sigma Advisers LP raised its holdings in Astronics by 85.8% in the fourth quarter. Two Sigma Advisers LP now owns 99,400 shares of the aerospace company’s stock valued at $1,586,000 after acquiring an additional 45,900 shares in the last quarter. Finally, Two Sigma Investments LP lifted its stake in Astronics by 159.1% in the fourth quarter. Two Sigma Investments LP now owns 177,148 shares of the aerospace company’s stock worth $2,827,000 after acquiring an additional 108,769 shares during the last quarter. 56.68% of the stock is currently owned by institutional investors and hedge funds.

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.