Astronics (NASDAQ:ATRO) Releases Quarterly Earnings Results, Misses Expectations By $0.14 EPS

Astronics (NASDAQ:ATRO) issued its quarterly earnings results on Thursday. The aerospace company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.14), Yahoo Finance reports. Astronics had a negative return on equity of 6.02% and a negative net margin of 3.51%. The company had revenue of $185.07 million for the quarter, compared to analyst estimates of $172.74 million. During the same period in the prior year, the business earned ($0.14) earnings per share.

Astronics Price Performance

Astronics stock traded up $1.15 during midday trading on Friday, reaching $18.37. The company’s stock had a trading volume of 183,127 shares, compared to its average volume of 99,787. Astronics has a fifty-two week low of $14.06 and a fifty-two week high of $22.44. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.38 and a current ratio of 2.72. The stock’s 50 day simple moving average is $17.75 and its 200 day simple moving average is $16.92. The firm has a market capitalization of $634.13 million, a PE ratio of -23.86 and a beta of 1.64.

Insider Buying and Selling at Astronics

In other news, EVP Michael C. Kuehn sold 7,074 shares of Astronics stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $17.72, for a total transaction of $125,351.28. Following the completion of the transaction, the executive vice president now owns 12,875 shares of the company’s stock, valued at approximately $228,145. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Michael C. Kuehn sold 2,209 shares of Astronics stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $20.16, for a total transaction of $44,533.44. Following the completion of the transaction, the executive vice president now owns 14,248 shares of the company’s stock, valued at approximately $287,239.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael C. Kuehn sold 7,074 shares of Astronics stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $17.72, for a total value of $125,351.28. Following the transaction, the executive vice president now directly owns 12,875 shares of the company’s stock, valued at approximately $228,145. The disclosure for this sale can be found here. 10.86% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. StockNews.com raised Astronics from a “hold” rating to a “buy” rating in a report on Thursday, February 29th. Truist Financial reduced their target price on Astronics from $21.00 to $19.00 and set a “hold” rating for the company in a report on Friday.

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.