AstroNova (NASDAQ:ALOT) Rating Increased to Strong-Buy at Wall Street Zen

AstroNova (NASDAQ:ALOT) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

AstroNova Stock Down 0.2%

AstroNova stock opened at $16.97 on Friday. AstroNova has a fifty-two week low of $6.96 and a fifty-two week high of $17.49. The stock has a market cap of $131.52 million, a PE ratio of -94.27 and a beta of 0.99. The firm’s 50-day simple moving average is $13.81 and its 200 day simple moving average is $10.52. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.72 and a current ratio of 1.76.

AstroNova (NASDAQ:ALOT) last released its earnings results on Monday, June 8th. The business services provider reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.14. The firm had revenue of $39.36 million for the quarter, compared to analysts’ expectations of $30.67 million. AstroNova had a negative net margin of 0.88% and a positive return on equity of 2.94%. During the same period in the previous year, the company earned ($0.05) earnings per share.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP purchased a new position in AstroNova in the third quarter valued at about $143,000. Vanguard Group Inc. raised its position in shares of AstroNova by 2.8% in the third quarter. Vanguard Group Inc. now owns 352,131 shares of the business services provider’s stock valued at $3,606,000 after purchasing an additional 9,533 shares during the period. Renaissance Technologies LLC increased its holdings in AstroNova by 1.2% during the 4th quarter. Renaissance Technologies LLC now owns 103,749 shares of the business services provider’s stock worth $897,000 after acquiring an additional 1,207 shares during the period. Geode Capital Management LLC increased its holdings in AstroNova by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 74,138 shares of the business services provider’s stock worth $859,000 after acquiring an additional 1,036 shares during the period. Finally, Jane Street Group LLC bought a new stake in AstroNova during the 2nd quarter worth approximately $140,000. 43.02% of the stock is currently owned by hedge funds and other institutional investors.

AstroNova Company Profile

AstroNova, Inc is a global provider of precision graphic communications equipment and identification solutions. The company operates two primary business segments: the NovaTech division, which designs and manufactures high‐speed data acquisition, recording and analysis systems for industrial, power generation, oil and gas, aerospace and defense markets; and the AstroNova division, which offers digital color label printing and packaging solutions under brands such as QuickLabel and RTag. These products are engineered to support mission‐critical applications that require reliable data capture or product identification across complex supply chains.

Headquartered in West Warwick, Rhode Island, AstroNova traces its heritage to the development of ruggedized oscillographs and recording instruments for industrial clients.