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

Equities researchers at StockNews.com initiated coverage on shares of AstroNova (NASDAQ:ALOT) in a report issued on Wednesday. The brokerage set a “buy” rating on the business services provider’s stock.

AstroNova Price Performance

ALOT stock opened at $9.04 on Wednesday. AstroNova has a 52-week low of $8.33 and a 52-week high of $18.25. The business has a fifty day moving average of $10.75 and a two-hundred day moving average of $12.64. The stock has a market cap of $68.06 million, a price-to-earnings ratio of 18.08 and a beta of 0.62. The company has a quick ratio of 0.77, a current ratio of 1.83 and a debt-to-equity ratio of 0.23.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bridgeway Capital Management LLC lifted its stake in AstroNova by 7.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 39,274 shares of the business services provider’s stock worth $472,000 after acquiring an additional 2,574 shares in the last quarter. Northern Trust Corp lifted its position in shares of AstroNova by 14.6% during the fourth quarter. Northern Trust Corp now owns 65,359 shares of the business services provider’s stock worth $785,000 after purchasing an additional 8,314 shares in the last quarter. Geode Capital Management LLC boosted 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 valued at $847,000 after purchasing an additional 1,226 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in shares of AstroNova by 22.9% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 83,544 shares of the business services provider’s stock valued at $1,003,000 after purchasing an additional 15,544 shares in the last quarter. Finally, Peapod Lane Capital LLC purchased a new stake in AstroNova during the 4th quarter worth approximately $1,536,000. 43.02% 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, Europe, Asia, Canada, Central and South America, and internationally. The company operates in two segments, Product Identification (PI) and Test & Measurement (T&M).