The stock is trading at $34.40 which is significantly above $31.12, the 50 day moving average and quite a bit above the 200 day moving average of $29.89. The 50 day moving average moved up $3.28 and the 200 day average moved up $4.51. Trading volume for Astronics Corporation was 148K in the last trading session. Overall, volume was up 8.79% over the stocks normal daily volume.
Traders are a little more bearish of late if you take a look at the uptick in short interest. The firm experienced a rise in short interest from September 29, 2017 to October 13, 2017 of 4.29%. Short interest increased 40,679 over that timeframe. With short interest at 988,188 and short average daily volume at 96,207, the short-interest ratio is 10.0 and the percentage of shorted shares is 0.03% as of October 13.
Here are a few substantial investment firms who have updated their positions. Skylands Capital, LLC divested its holdings by selling 72,834 shares a decrease of 66.3% as of 09/30/2017. Skylands Capital, LLC claims 36,948 shares valued at $1,099,000. The total value of its holdings decreased 67.1%. First Trust Advisors Lp downsized its investment by shedding 37,725 shares a decrease of 64.6%. First Trust Advisors Lp controls 20,699 shares worth $616,000. The value of the position overall is down by 66.8%.
As of quarter end Reinhart Partners, Inc. had sold 25,880 shares trimming its position 32.3%. The value of the investment in Astronics Corporation decreased from $2,444,000 to $1,617,000 a change of $827,000 since the last quarter. As of the end of the quarter Victory Capital Management Inc had disposed of a total of 69,361 shares trimming its stake by 39.1%. The value of the company’s investment in Astronics Corporation went from $5,412,000 to $3,220,000 a change of 40.5% quarter to quarter.
On August 3 Canaccord Genuity made no change to the stock rating of “Buy” and lowered the price expectation to $34.00 from $50.00.
Astronics Corporation currently has a P/E ratio of 24.96 and market cap is 987.31M. As of the latest earnings report the EPS was $1.38 and is expected to be $1.39 for the current year with 28,701,000 shares outstanding. Next quarter’s EPS is forecasted at $0.44 with next year’s EPS anticipated to be $1.83.
Astronics Corporation, launched on December 5, 1968, is a supplier of products to the aerospace, defense, electronics and semiconductor industries. The Business’s products and services include electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems. The Company operates through two segments: Aerospace and Test Systems. The Company designs and builds its products through its subsidiaries Astronics Advanced Electronic Systems Corp. (AES); Astronics AeroSat Corporation (AeroSat); Armstrong Aerospace, Inc. (Armstrong); Astronics Test Systems, Inc. (ATS); Ballard Technology, Inc. (Ballard); Astronics DME LLC (DME); Luminescent Systems, Inc. (LSI); Luminescent Systems Canada, Inc. (LSI Canada); Max-Viz, Inc. (Max-Viz); Peco, Inc. (Peco), and PGA Electronic s.a. (PGA). The Company has operations in the United States, Canada and France..