why Astronics Corp. [ATRO] is a Good Choice for Investors After New Price Target of $23.50

Astronics Corp. [NASDAQ: ATRO] jumped around 0.12 points on Thursday, while shares priced at $19.04 at the close of the session, up 0.63%. The company report on February 28, 2024 at 4:15 PM that Astronics Corporation Reports 2023 Fourth Quarter and Full Year Financial Results.

Sales grew 23.5% to $195.3 million in the quarter and were up 28.8% to $689.2 million for the full year.

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Operating income was $7.8 million in the quarter, or 4.0% of sales.

Compared to the average trading volume of 137.28K shares, ATRO reached a trading volume of 119382 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Astronics Corp. [ATRO]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ATRO shares is $23.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ATRO stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Colliers Securities have made an estimate for Astronics Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 20, 2021. While these analysts kept the previous recommendation, Truist dropped their target price from $6 to $14. The new note on the price target was released on December 01, 2020, representing the official price target for Astronics Corp. stock. Previously, the target price had yet another raise to $16, while CJS Securities analysts kept a Market Outperform rating on ATRO stock.

The Average True Range (ATR) for Astronics Corp. is set at 0.59, with the Price to Sales ratio for ATRO stock in the period of the last 12 months amounting to 0.95. The Price to Book ratio for the last quarter was 2.63, with the Price to Cash per share for the same quarter was set at 0.33.

How has ATRO stock performed recently?

Astronics Corp. [ATRO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.26. With this latest performance, ATRO shares dropped by -2.41% in over the last four-week period, additionally plugging by 20.05% over the last 6 months – not to mention a rise of 42.62% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ATRO stock in for the last two-week period is set at 58.74, with the RSI for the last a single of trading hit 62.21, and the three-weeks RSI is set at 57.31 for Astronics Corp. [ATRO]. The present Moving Average for the last 50 days of trading for this stock 18.18, while it was recorded at 18.60 for the last single week of trading, and 17.31 for the last 200 days.

Astronics Corp. [ATRO]: Deeper insight into the fundamentals

Astronics Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.38 and a Current Ratio set at 2.72.

Earnings analysis for Astronics Corp. [ATRO]

With the latest financial reports released by the company, Astronics Corp. posted -0.14/share EPS, while the average EPS was predicted by analysts to be reported at -0.31/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 54.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ATRO.

Insider trade positions for Astronics Corp. [ATRO]

The top three institutional holders of ATRO stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ATRO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ATRO stock with ownership which is approximately 5.8325%.