AstroNova (ALOT) Upgraded to “Strong-Buy” at Zacks Investment Research

AstroNova (NASDAQ:ALOT) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday, Zacks.com reports. The brokerage currently has a $28.00 price target on the business services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.45% from the company’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. “

Separately, ValuEngine downgraded shares of AstroNova from a “buy” rating to a “hold” rating in a report on Monday, April 1st.

Shares of NASDAQ:ALOT opened at $24.90 on Tuesday. The stock has a market capitalization of $175.43 million, a PE ratio of 30.37, a PEG ratio of 2.20 and a beta of 0.32. The company has a current ratio of 2.54, a quick ratio of 1.32 and a debt-to-equity ratio of 0.18. AstroNova has a fifty-two week low of $16.74 and a fifty-two week high of $25.97.

AstroNova (NASDAQ:ALOT) last issued its earnings results on Thursday, March 14th. The business services provider reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.18. The business had revenue of $37.17 million for the quarter. AstroNova had a net margin of 4.19% and a return on equity of 8.67%. On average, equities analysts predict that AstroNova will post 0.95 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its holdings in AstroNova by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 566,023 shares of the business services provider’s stock worth $10,613,000 after buying an additional 7,917 shares in the last quarter. Vanguard Group Inc boosted its holdings in AstroNova by 8.7% during the third quarter. Vanguard Group Inc now owns 289,238 shares of the business services provider’s stock worth $6,248,000 after buying an additional 23,155 shares in the last quarter. Vanguard Group Inc. boosted its holdings in AstroNova by 8.7% during the third quarter. Vanguard Group Inc. now owns 289,238 shares of the business services provider’s stock worth $6,248,000 after buying an additional 23,155 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in AstroNova by 9.6% during the third quarter. Renaissance Technologies LLC now owns 218,600 shares of the business services provider’s stock worth $4,722,000 after buying an additional 19,150 shares in the last quarter. Finally, Roubaix Capital LLC purchased a new stake in AstroNova during the first quarter worth about $2,242,000. 59.23% of the stock is currently owned by hedge funds and other institutional investors.

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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