Astronics Co. (NASDAQ:ATRO) Short Interest Update

Astronics Co. (NASDAQ:ATRO) saw a large increase in short interest in May. As of May 31st, there was short interest totalling 287,400 shares, an increase of 13.1% from the April 30th total of 254,100 shares. Approximately 1.4% of the company’s shares are sold short. Based on an average daily volume of 209,000 shares, the short-interest ratio is presently 1.4 days.

In related news, VP Mark Peabody sold 2,000 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $41.43, for a total transaction of $82,860.00. Following the sale, the vice president now owns 20,761 shares in the company, valued at approximately $860,128.23. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 9,000 shares of company stock worth $369,130. 15.80% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of ATRO. Morgan Stanley lifted its stake in Astronics by 12.6% during the third quarter. Morgan Stanley now owns 52,478 shares of the aerospace company’s stock worth $2,283,000 after purchasing an additional 5,869 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Astronics by 45.9% in the fourth quarter. Rhumbline Advisers now owns 28,198 shares of the aerospace company’s stock worth $859,000 after buying an additional 8,877 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in shares of Astronics by 13.4% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 14,065 shares of the aerospace company’s stock worth $428,000 after buying an additional 1,664 shares during the period. Virginia Retirement Systems ET AL purchased a new position in shares of Astronics in the fourth quarter worth about $670,000. Finally, 22NW LP purchased a new position in shares of Astronics in the fourth quarter worth about $228,000. 64.92% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:ATRO traded up $0.79 during trading hours on Friday, hitting $38.99. 270,492 shares of the company’s stock traded hands, compared to its average volume of 359,396. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 27.65, a P/E/G ratio of 2.03 and a beta of 1.35. Astronics has a 52 week low of $27.56 and a 52 week high of $46.56. The company has a fifty day moving average of $40.81. The company has a current ratio of 2.44, a quick ratio of 1.50 and a debt-to-equity ratio of 0.25.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Wednesday, May 8th. The aerospace company reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.11. Astronics had a return on equity of 15.16% and a net margin of 14.61%. The company had revenue of $208.20 million during the quarter, compared to analyst estimates of $192.10 million. During the same quarter last year, the company earned $0.11 earnings per share. The firm’s quarterly revenue was up 16.2% on a year-over-year basis. As a group, equities research analysts anticipate that Astronics will post 1.89 earnings per share for the current fiscal year.

Several research analysts have issued reports on the company. Seaport Global Securities upgraded Saia from a “neutral” rating to a “buy” rating in a report on Wednesday, May 1st. SunTrust Banks dropped their target price on Broadcom to $307.00 and set a “buy” rating on the stock in a report on Friday, June 14th. BidaskClub downgraded Weyco Group from a “sell” rating to a “strong sell” rating in a research report on Saturday. ValuEngine downgraded Valero Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Finally, Zacks Investment Research raised DLH from a “sell” rating to a “hold” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Astronics has an average rating of “Hold” and a consensus target price of $40.25.

Astronics Company Profile

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, electronics, and semiconductor industries worldwide. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems; electrical power generation, distribution, and motions systems; aircraft structures; avionics products; system certification; and connectivity and other products.

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