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

Astronics Corporation (NASDAQ:ATRO) experienced a notable surge in trading volume recently. On Thursday, the trading activity reached about 184,970 shares, representing a 25% decrease compared to the previous day's volume of 245,981 shares. The company's stock was last quoted at $24.80, down from its previous close of $25.08.

Changes in Analyst Ratings

Several analysts have recently revised their ratings for Astronics. On March 6, StockNews.com upgraded the stock from a "hold" to a "buy" rating. Meanwhile, on March 5, Truist Financial raised its target price for Astronics shares from $17.00 to $23.00 while maintaining a "hold" rating.

Astronics Price Trends

Astronics shows a market capitalization of approximately $886.66 million. The stock has a PE ratio of -132.08 and a beta of 1.74, indicating higher volatility. 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. The 50-day moving average stands at $19.58, while the 200-day moving average is $18.55.

The last quarterly earnings report, released on March 4, revealed that Astronics achieved earnings per share of $0.48, surpassing analysts' predictions of $0.21 by a significant margin. The company reported revenues of $208.54 million for the quarter, which exceeded the forecast of $194.91 million. In the same quarter last year, Astronics had earnings per share of $0.35. Analysts anticipate that Astronics will report an EPS of $0.82 for the current year.

Insider Actions

In related news, on March 7, Director Robert S. Keane sold 77,099 shares of the company. The shares were sold at an average price of $24.55, totaling approximately $1.89 million. After the sale, Keane retains 6,346 shares, valued at around $155,794. This sale represents a significant reduction of 92.39% in his holdings. The transaction has been documented in a filing with the Securities and Exchange Commission. Currently, insiders hold about 10.86% of the company's stock.

Institutional Holdings in Astronics

Several institutional investors have recently adjusted their positions in Astronics. The Public Employees Retirement System of Ohio increased its holdings by 167.1% in the fourth quarter and now owns 4,156 shares worth approximately $66,000. UBS Asset Management Americas also grew its stake by 75%, owning 58,687 shares valued at around $937,000. Squarepoint Ops LLC purchased a new stake valued at approximately $1,022,000. Additionally, Two Sigma Advisers LP raised its holdings by 85.8% during the same period and now owns 99,400 shares worth about $1,586,000. Institutional investors and hedge funds account for roughly 56.68% of Astronics' shares.

Company Overview

Astronics Corporation, through its subsidiaries, develops and manufactures high-tech products for the aerospace, defense, and electronics sectors globally. The company operates in two primary segments: Aerospace and Test Systems, providing a variety of products, including lighting and safety systems, power generation systems, and avionics products.

Investment Consideration

Before considering an investment in Astronics, it may be wise to examine alternative options. Current analyst ratings cite a "hold" on Astronics stock, while several leading analysts have identified other stocks that may present more promising investment opportunities. It could be advantageous to explore a list of recommended stocks that have been highlighted by top analysts in recent evaluations.

Astronics, Stock, Trading