Why Astronics Stock Is Down Today
Aerospace interiors specialist (NASDAQ: ATRO) fell short of earnings expectations in the most recent quarter, and continues to deal with some supply chain issues. Investors were not impressed, sending Astronics shares down more than 15% on Friday.
Astronics is an aerospace supplier that specializes in cabin electronics, including in-seat power outlets and the lighting panels above the seat. On Friday, the company reported a second-quarter loss of $0.37 per share on revenue of $174.5 million, a mixed report relative to Wall Street expectations for a $0.23 per share loss on revenue of $172 million.
Revenue was up 35% year over year, and Astronics closed the quarter with a backlog of $611.1 million in future business, but the company was held back by some supply chain issues and legal expenses.
Source Fool.com
Astronics Corp. Stock
The community is currently still undecided about Astronics Corp. with 1 Buy predictions and 0 Sell predictions.
With a target price of 30 € there is a positive potential of 47.06% for Astronics Corp. compared to the current price of 20.4 €.
