StockNews.com Begins Coverage on AstroNova (NASDAQ:ALOT)

StockNews.com assumed coverage on shares of AstroNova (NASDAQ:ALOT) in a report released on Friday. The brokerage issued a buy rating on the business services provider’s stock.

AstroNova Stock Down 4.2 %

Shares of AstroNova stock opened at $11.49 on Friday. AstroNova has a 12-month low of $11.00 and a 12-month high of $18.25. The company has a quick ratio of 0.77, a current ratio of 1.83 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average price of $12.17 and a two-hundred day moving average price of $13.55. The stock has a market capitalization of $86.52 million, a P/E ratio of 22.98 and a beta of 0.66.

AstroNova (NASDAQ:ALOT) last posted its quarterly earnings data on Thursday, December 12th. The business services provider reported $0.06 earnings per share (EPS) for the quarter. AstroNova had a net margin of 2.49% and a return on equity of 5.21%.

Hedge Funds Weigh In On AstroNova

Institutional investors have recently made changes to their positions in the business. Mink Brook Asset Management LLC bought a new stake in AstroNova during the 4th quarter valued at approximately $4,507,000. Bridgeway Capital Management LLC lifted its holdings in shares of AstroNova by 7.0% during the fourth quarter. Bridgeway Capital Management LLC now owns 39,274 shares of the business services provider’s stock worth $472,000 after buying an additional 2,574 shares during the last quarter. Northern Trust Corp boosted its position in shares of AstroNova by 14.6% in the fourth quarter. Northern Trust Corp now owns 65,359 shares of the business services provider’s stock valued at $785,000 after acquiring an additional 8,314 shares during the period. Geode Capital Management LLC grew its stake in shares of AstroNova by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 70,535 shares of the business services provider’s stock worth $847,000 after acquiring an additional 1,226 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its position in AstroNova by 22.9% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 83,544 shares of the business services provider’s stock worth $1,003,000 after acquiring an additional 15,544 shares during the period. 43.02% of the stock is currently owned by institutional investors.

About AstroNova

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