Is Astronics Corp. overvalued or undervalued?

As of 6 May 2020, the valuation grade for Astronics Corp. moved from expensive to risky, indicating a shift in perception regarding its market value. Based on the current metrics, Astronics appears to be overvalued, with a P/E ratio of 192, a Price to Book Value of 4.77, and an EV to EBITDA of 37.24. In comparison, peers such as Mirion Technologies, Inc. have a P/E of 280.92 and an EV to EBITDA of 31.38, while Triumph Group, Inc. shows a P/E of 29.88 and an EV to EBITDA of 13.67, suggesting that Astronics is priced significantly higher relative to its earnings potential.
Additionally, Astronics has demonstrated strong returns, with a year-to-date return of 162.66% compared to the S&P 500's 12.22%, and a three-year return of 400.24% against the S&P 500's 70.41%. This performance may reflect investor optimism, but the high valuation ratios indicate that the stock may not be sustainable at these levels.