Astronics (NASDAQ:ATRO) Trading Up 6% – Still a Buy?

Astronics Co. (NASDAQ:ATRO)’s stock price rose 6% on Friday . The stock traded as high as $16.59 and last traded at $16.54. Approximately 61,660 shares traded hands during trading, a decline of 60% from the average daily volume of 153,283 shares. The stock had previously closed at $15.60.

Analyst Upgrades and Downgrades

Separately, Truist Financial dropped their target price on shares of Astronics from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Friday, October 18th.

Astronics Stock Performance

The company has a market cap of $564.90 million, a price-to-earnings ratio of -84.31 and a beta of 1.79. The firm has a 50-day simple moving average of $16.54 and a 200 day simple moving average of $18.87. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72.

Institutional Trading of Astronics

Several hedge funds have recently modified their holdings of ATRO. Point72 Asset Management L.P. acquired a new stake in shares of Astronics during the 2nd quarter valued at approximately $25,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Astronics during the third quarter worth approximately $106,000. DekaBank Deutsche Girozentrale grew its position in shares of Astronics by 13.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 8,146 shares of the aerospace company’s stock valued at $163,000 after purchasing an additional 971 shares during the period. EP Wealth Advisors LLC acquired a new position in shares of Astronics during the 3rd quarter valued at about $202,000. Finally, Stifel Financial Corp acquired a new position in Astronics during the third quarter worth approximately $212,000. 56.68% of the stock is 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.