AstroNova (NASDAQ:ALOT) Lifted to “Buy” at Zacks Investment Research

AstroNova (NASDAQ:ALOT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, Zacks.com reports. The firm currently has a $8.25 target price on the business services provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 10.74% from the stock’s current price.

According to Zacks, “AstroNova, Inc. provides data visualization technologies. The company designs, manufactures, distributes and services products which acquire, store, analyze and present data in multiple formats. The Product Identification segment offers hardware and software products and associated consumables. Test and Measurement segment includes suite of products and services which acquire and record electronic signal data from local and networked sensors. Its brand includes QuickLabel(R). AstroNova, Inc., formerly known as Astro-Med, Inc., is based in WEST WARWICK, United States. “

ALOT traded up $0.05 during trading hours on Wednesday, hitting $7.45. 435 shares of the company’s stock were exchanged, compared to its average volume of 20,223. AstroNova has a 1-year low of $5.29 and a 1-year high of $17.47. The stock’s 50-day moving average is $7.17 and its two-hundred day moving average is $7.25. The stock has a market cap of $52.33 million, a price-to-earnings ratio of -106.43, a PEG ratio of 4.68 and a beta of 0.49. The company has a quick ratio of 1.43, a current ratio of 3.03 and a debt-to-equity ratio of 0.21.

AstroNova (NASDAQ:ALOT) last announced its quarterly earnings results on Wednesday, September 9th. The business services provider reported $0.00 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.06. AstroNova had a negative net margin of 0.37% and a negative return on equity of 0.63%. On average, equities research analysts anticipate that AstroNova will post 0.13 EPS for the current year.

A number of hedge funds have recently made changes to their positions in ALOT. Jane Street Group LLC acquired a new stake in AstroNova in the second quarter valued at $94,000. Wells Fargo & Company MN lifted its stake in AstroNova by 41.9% in the first quarter. Wells Fargo & Company MN now owns 16,362 shares of the business services provider’s stock valued at $127,000 after acquiring an additional 4,828 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in AstroNova in the first quarter valued at $146,000. Marquette Asset Management LLC acquired a new stake in AstroNova in the second quarter valued at $151,000. Finally, Acadian Asset Management LLC raised its position in shares of AstroNova by 19.1% in the first quarter. Acadian Asset Management LLC now owns 20,002 shares of the business services provider’s stock valued at $155,000 after purchasing an additional 3,205 shares during the period. Hedge funds and other institutional investors own 49.18% of the company’s stock.

AstroNova Company Profile

AstroNova, Inc designs, develops, manufactures, and distributes specialty printers, and data acquisition and analysis systems in the United States, Canada, Asia, Europe, Central and South America, and internationally. The company operates through two segments, Product Identification and Test & Measurement (T&M).

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