DA Davidson Lowers Alamo Group (NYSE:ALG) Price Target to $217.00

Alamo Group (NYSE:ALG - Get Free Report) had its target price cut by equities research analysts at DA Davidson from $219.00 to $217.00 in a report released on Monday,Benzinga reports. The firm currently has a "buy" rating on the industrial products company's stock. DA Davidson's target price points to a potential upside of 22.91% from the stock's previous close.

Several other research firms have also recently commented on ALG. Robert W. Baird cut shares of Alamo Group from an "outperform" rating to a "neutral" rating and decreased their price target for the stock from $224.00 to $177.00 in a report on Friday. Baird R W cut shares of Alamo Group from a "strong-buy" rating to a "hold" rating in a report on Friday. Finally, StockNews.com upgraded shares of Alamo Group from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th.

Alamo Group Trading Up 0.9 %

Shares of ALG traded up $1.58 during midday trading on Monday, hitting $176.56. The stock had a trading volume of 172,198 shares, compared to its average volume of 103,192. The business has a 50-day simple moving average of $183.63 and a two-hundred day simple moving average of $184.13. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. The firm has a market cap of $2.13 billion, a P/E ratio of 17.78 and a beta of 1.10. Alamo Group has a fifty-two week low of $163.74 and a fifty-two week high of $228.88.

Alamo Group (NYSE:ALG - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The industrial products company reported $2.39 EPS for the quarter, topping the consensus estimate of $2.23 by $0.16. The business had revenue of $385.32 million during the quarter, compared to analysts' expectations of $396.85 million. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. As a group, equities analysts forecast that Alamo Group will post 9.53 EPS for the current year.

Insider Buying and Selling at Alamo Group

In other Alamo Group news, VP Janet S. Pollock sold 257 shares of Alamo Group stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $193.41, for a total value of $49,706.37. Following the completion of the sale, the vice president now directly owns 3,360 shares in the company, valued at $649,857.60. The trade was a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.40% of the company's stock.

Institutional Trading of Alamo Group

Institutional investors and hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its stake in shares of Alamo Group by 700.0% in the third quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company's stock worth $32,000 after buying an additional 154 shares during the last quarter. JNBA Financial Advisors bought a new position in Alamo Group during the third quarter worth $37,000. Smartleaf Asset Management LLC increased its position in Alamo Group by 442.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company's stock worth $38,000 after acquiring an additional 168 shares during the period. Lazard Asset Management LLC bought a new position in Alamo Group during the fourth quarter worth $79,000. Finally, KBC Group NV increased its position in Alamo Group by 57.1% during the fourth quarter. KBC Group NV now owns 520 shares of the industrial products company's stock worth $97,000 after acquiring an additional 189 shares during the period. 92.36% of the stock is currently owned by institutional investors and hedge funds.

About Alamo Group

Alamo Group Inc designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. It operates through two segments, Vegetation Management and Industrial Equipment. Its Vegetation Management Division segment offers hydraulically-powered and tractor - and off-road chassis mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.