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by Michael VodickaJanuary 09, 2012 | Comments : 0 Recommended this article: (0)
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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 $421 million.
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 quarters.
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 below.
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.
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