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Why Astronics (ATRO) Stock Is Up On Wednesday

Stocks in this article: ATRO

NEW YORK (TheStreet) -- Shares of Astronics Corp.  (ATRO) are higher by 4.48% to $58.58 after reporting that sales were up 90.6% to $141.0 for the 2014 first quarter, from $74.0 million for the same quarter last year.

The company, which supplies products to the aerospace and defense industries, said net income for the most recent quarter declined to $7.5 million from $8.6 million for the year ago quarter.

Diluted earnings per share were 40 cents versus 47 cents from the 2013 first quarter.

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TheStreet Ratings team rates ASTRONICS CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate ASTRONICS CORP (ATRO) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations, solid stock price performance and increase in net income. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • ATRO's very impressive revenue growth greatly exceeded the industry average of 2.6%. Since the same quarter one year prior, revenues leaped by 56.4%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
  • Net operating cash flow has significantly increased by 118.67% to $15.40 million when compared to the same quarter last year. In addition, ASTRONICS CORP has also vastly surpassed the industry average cash flow growth rate of 52.29%.
  • Compared to its closing price of one year ago, ATRO's share price has jumped by 102.46%, exceeding the performance of the broader market during that same time frame. Looking ahead, the stock's sharp rise over the last year has already helped drive it to a level which is relatively expensive compared to the rest of its industry. We feel, however, that other strengths this company displays justify these higher price levels.
  • ASTRONICS CORP's earnings per share declined by 8.1% in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, ASTRONICS CORP increased its bottom line by earning $1.63 versus $1.60 in the prior year. This year, the market expects an improvement in earnings ($2.70 versus $1.63).
  • The net income growth from the same quarter one year ago has exceeded that of the Aerospace & Defense industry average, but is less than that of the S&P 500. The net income increased by 13.0% when compared to the same quarter one year prior, going from $5.66 million to $6.39 million.
  • You can view the full analysis from the report here: ATRO Ratings Report
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