Astronics (NASDAQ:ATRO) Sees Strong Trading Volume - What's Next?

Astronics Co. (NASDAQ:ATRO) experienced a notable surge in trading volume on Thursday. Approximately 184,970 shares changed hands during the session, marking a 25% decrease from the previous trading volume of 245,981 shares. The stock price was last quoted at $24.80 after closing at $25.08 on the prior day.

Changes in Analyst Ratings

Several research analysts have provided updates regarding Astronics. StockNews.com upgraded the company's rating from "hold" to "buy" as of March 6. Additionally, Truist Financial raised its price target for Astronics shares from $17.00 to $23.00, while maintaining a "hold" rating in their report dated March 5.

Astronics' Price Trajectory

The market capitalization of Astronics stands at $886.66 million. The stock has a negative PE ratio of -132.08 and a beta of 1.74. Additionally, the company's financial ratios include a debt-to-equity ratio of 0.72, a quick ratio of 1.46, and a current ratio of 2.83. Its 50-day moving average is noted at $19.58, while the 200-day moving average stands at $18.55.

Astronics recently released its quarterly earnings data on March 4, reporting $0.48 earnings per share for the quarter, significantly surpassing analysts' expectations of $0.21 by $0.27. The company registered a positive return on equity of 6.94%, although it reported a negative net margin of 0.82%. For the quarter, revenues reached $208.54 million against analysts' forecast of $194.91 million. In the same quarter last year, Astronics had reported $0.35 earnings per share. Analysts anticipate that the company will report earnings of approximately $0.82 per share for the current fiscal year.

Insider Trading Activity

In relevant developments, Director Robert S. Keane sold 77,099 shares of Astronics' stock on March 7. These shares were sold at an average price of $24.55, totaling around $1,892,780.45. Post-sale, Keane holds 6,346 shares valued at approximately $155,794.30, reflecting a 92.39% reduction in his position. This transaction was documented in a filing with the Securities and Exchange Commission. Overall, insiders possess about 10.86% of the company's stock.

Institutional Investor Movements

Several hedge funds have adjusted their investment in Astronics recently. The Public Employees Retirement System of Ohio increased its stake in the company by 167.1% during the fourth quarter, now owning 4,156 shares worth around $66,000 after acquiring an additional 2,600 shares. UBS AM, a division of UBS Asset Management Americas LLC, boosted its position in Astronics by 75% during the same period, holding 58,687 shares valued at $937,000 after purchasing 25,146 more shares. Other institutional investors, including Squarepoint Ops LLC and Two Sigma Advisers LP, have also made significant purchases in the stock. Currently, institutional investors and hedge funds hold approximately 56.68% of Astronics shares.

Company Overview

Astronics Corporation, through its subsidiaries, designs and manufactures products catering to the aerospace, defense, and electronics industries globally, operating in regions including North America, Asia, Europe, and South America. The company has two main segments: Aerospace and Test Systems. The Aerospace segment specializes in producing lighting systems, safety systems, electrical power generation solutions, aircraft structures, avionics products, and more.

Investment Consideration

If you're contemplating investing in Astronics, be sure to review all the relevant information first.

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