StockNews.com Downgrades Alamo Group (NYSE:ALG) to Hold

Alamo Group (NYSE:ALG - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Wednesday.

A number of other research analysts have also issued reports on the stock. Robert W. Baird lowered shares of Alamo Group from an "outperform" rating to a "neutral" rating and cut their price target for the company from $224.00 to $177.00 in a research note on Friday, February 28th. DA Davidson cut their price target on shares of Alamo Group from $219.00 to $217.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Finally, Baird R W lowered shares of Alamo Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 28th.

Alamo Group Stock Up 0.1 %

Shares of NYSE ALG traded up $0.25 during trading hours on Wednesday, hitting $183.28. 117,350 shares of the stock were exchanged, compared to its average volume of 105,603. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21. The company has a market cap of $2.21 billion, a PE ratio of 18.46 and a beta of 1.10. The firm has a fifty day moving average price of $183.01 and a 200-day moving average price of $184.09. Alamo Group has a 12 month low of $163.74 and a 12 month high of $228.88.

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Alamo Group (NYSE:ALG - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $385.32 million during the quarter, compared to analyst estimates of $396.85 million. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. On average, sell-side analysts expect that Alamo Group will post 9.53 EPS for the current year.

Insider Transactions at Alamo Group

In other news, VP Janet S. Pollock sold 257 shares of the stock in a transaction 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 sale, the vice president now owns 3,360 shares in the company, valued at $649,857.60. This represents 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. Company insiders own 1.40% of the company's stock.

Institutional Trading of Alamo Group

A number of hedge funds and other institutional investors have recently made changes to their positions in ALG. Wellington Management Group LLP acquired a new stake in shares of Alamo Group in the third quarter worth $35,759,000. Bank of America Corp DE boosted its holdings in Alamo Group by 826.1% during the fourth quarter. Bank of America Corp DE now owns 130,494 shares of the industrial products company's stock worth $24,260,000 after buying an additional 116,404 shares in the last quarter. SG Capital Management LLC purchased a new stake in Alamo Group during the fourth quarter worth $16,971,000. Ameriprise Financial Inc. boosted its holdings in Alamo Group by 338.4% during the fourth quarter. Ameriprise Financial Inc. now owns 115,856 shares of the industrial products company's stock worth $21,539,000 after buying an additional 89,430 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its holdings in Alamo Group by 279.3% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 55,068 shares of the industrial products company's stock worth $10,238,000 after buying an additional 40,549 shares in the last quarter. Institutional investors and hedge funds own 92.36% of the company's stock.

Alamo Group Company Profile

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.