AstroNova (NASDAQ:ALOT) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of AstroNova (NASDAQ:ALOT) from a hold rating to a buy rating in a research report released on Friday morning, Zacks.com reports. The brokerage currently has $17.00 price target on the business services provider’s stock.

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. “

NASDAQ ALOT opened at $15.66 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.77 and a quick ratio of 1.86. The firm’s fifty day moving average price is $15.39 and its 200 day moving average price is $14.83. The company has a market capitalization of $113.24 million, a price-to-earnings ratio of 78.30, a price-to-earnings-growth ratio of 3.17 and a beta of 0.78. AstroNova has a 12 month low of $7.32 and a 12 month high of $18.05.

AstroNova (NASDAQ:ALOT) last posted its earnings results on Monday, September 13th. The business services provider reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.07. AstroNova had a net margin of 1.26% and a return on equity of 1.95%. As a group, sell-side analysts forecast that AstroNova will post 0.4 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Diamond Hill Capital Management Inc. acquired a new stake in shares of AstroNova in the second quarter valued at about $200,000. BlackRock Inc. lifted its stake in shares of AstroNova by 3.0% in the first quarter. BlackRock Inc. now owns 97,570 shares of the business services provider’s stock valued at $1,308,000 after purchasing an additional 2,856 shares during the period. Rutabaga Capital Management LLC MA lifted its stake in shares of AstroNova by 73.1% in the first quarter. Rutabaga Capital Management LLC MA now owns 197,123 shares of the business services provider’s stock valued at $2,641,000 after purchasing an additional 83,267 shares during the period. Royce & Associates LP increased its holdings in AstroNova by 34.1% during the 1st quarter. Royce & Associates LP now owns 485,737 shares of the business services provider’s stock valued at $6,509,000 after acquiring an additional 123,537 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new position in AstroNova during the 1st quarter valued at about $147,000. Institutional investors own 50.30% of the company’s stock.

AstroNova Company Profile

AstroNova, Inc engages in the design, development, manufacture, and distribution of specialty printers and data acquisition and analysis systems. It operates through the Product Identification (PI) and Test and Measurement (T&M) segments. The PI segment offers digital label printers, over-printers, labeling software, spare parts, service contracts, and related printing supplies such as pressure sensitive labels, tags, inks, toners, and thermal transfer ribbons used in product identification digital printers.

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