Astronics (NASDAQ:ATRO) Sees Strong Trading Volume – What’s Next?

Shares of Astronics Co. (NASDAQ:ATRO) saw unusually-high trading volume on Thursday . Approximately 184,970 shares were traded during mid-day 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.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. StockNews.com raised Astronics from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Truist Financial increased their target price on Astronics from $17.00 to $23.00 and gave the stock a “hold” rating in a report on Wednesday, March 5th.

Astronics Stock Up 1.4 %

The firm’s 50-day moving average price is $19.96 and its 200 day moving average price is $18.61. The company has a current ratio of 2.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $894.07 million, a price-to-earnings ratio of -133.41 and a beta of 1.74.

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

Insider Buying and Selling

In related news, Director Robert S. Keane sold 77,099 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $24.55, for a total value of $1,892,780.45. Following the completion of the transaction, the director now 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 document filed with the Securities & Exchange Commission, which is available at this link. 10.86% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. AlphaQuest LLC grew its position in Astronics by 355.5% during the 4th quarter. AlphaQuest LLC now owns 3,576 shares of the aerospace company’s stock worth $57,000 after acquiring an additional 2,791 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Astronics by 167.1% during the fourth 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 last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Astronics in the fourth quarter valued at approximately $73,000. Point72 Asset Management L.P. increased its stake in shares of Astronics by 337.9% in the third quarter. Point72 Asset Management L.P. now owns 5,356 shares of the aerospace company’s stock valued at $104,000 after buying an additional 4,133 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Astronics in the 3rd quarter valued at approximately $106,000. 56.68% of the stock is currently 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.