) just jumped into a new multi-year high, riding a wave of
enthusiasm over strong Q3 results that included a 33% earnings
surprise. With a 12% growth projection, this Zacks #1 Rank stock is
heating up with momentum.
Astronics Corp, through its subsidiaries, designs and manufactures
lighting and test systems for the aerospace and defense industries
worldwide. The company was founded in 1968 and has a market cap of
Astronics began trending higher with the market last fall, but
shares got an extra boost in early November after the company
reported strong Q3 results that included a 33% earnings surprise.
Revenue for the period was up 13% from last year to $56 million.
Earnings also came in strong at 52 cents, 33% ahead of the Zacks
Consensus, where in spite of a small miss last quarter, the company
has an average earnings surprise of 22% over the last four
Astronics ended the quarter with its healthy financial profile
intact, with cash and short-term investments of $21 million against
total debt of $35 million.
We did see a little bit of movement in estimates off the good
quarter, with the current year adding 4 cents in the last few
months to $1.64. The next-year estimate is up 3 cents in the same
time to $1.83, a solid 12% growth projection.
With a PEG ratio of 1.58, ATRO trades at a premium to the benchmark
of 1 for value.
On the chart, shares have been rallying since rallying since last
October, recently jumping into a new multi-year high. Take a look
Michael Vodicka is the Momentum Stock Strategist for Zacks.com.
He is also the Editor in charge of the market-beating
Zacks Whisper Trader Service.
ASTRONICS CORP (
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