Alamo Group (NYSE:ALG) Rating Increased to Buy at StockNews.com

Alamo Group (NYSE:ALG - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Tuesday.

Separately, Robert W. Baird boosted their price target on Alamo Group from $204.00 to $205.00 and gave the company an "outperform" rating in a research note on Monday, November 4th.

Alamo Group Stock Performance

Shares of NYSE:ALG traded down $9.24 on Tuesday, reaching $175.02. 321,625 shares of the company's stock were exchanged, compared to its average volume of 101,424. Alamo Group has a twelve month low of $163.74 and a twelve month high of $228.88. The company has a fifty day moving average of $183.83 and a 200-day moving average of $183.94. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 17.63 and a beta of 1.10. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21.

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

Remove Ads

Insider Buying and Selling at Alamo Group

In related news, VP Janet S. Pollock sold 257 shares of the company's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $193.41, for a total transaction 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. This represents a 7.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Creative Planning grew its holdings in shares of Alamo Group by 33.2% during the 3rd quarter. Creative Planning now owns 2,004 shares of the industrial products company's stock valued at $361,000 after purchasing an additional 499 shares during the last quarter. Advantage Alpha Capital Partners LP acquired a new stake in Alamo Group in the third quarter valued at approximately $3,014,000. Barclays PLC increased its holdings in shares of Alamo Group by 204.7% during the third quarter. Barclays PLC now owns 22,417 shares of the industrial products company's stock worth $4,039,000 after buying an additional 15,061 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Alamo Group by 14.5% during the third quarter. JPMorgan Chase & Co. now owns 76,555 shares of the industrial products company's stock worth $13,790,000 after buying an additional 9,710 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Alamo Group by 2.6% in the 3rd quarter. State Street Corp now owns 391,728 shares of the industrial products company's stock valued at $70,562,000 after acquiring an additional 10,013 shares during the last quarter. Institutional investors and hedge funds own 92.36% of the company's stock.

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.