Alamo Group, Inc. (ALG) Receives Average Rating of “Buy” from Brokerages
Alamo Group, Inc. (NYSE:ALG) has been given a consensus broker rating score of 2.00 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.
Brokerages have set a 1 year consensus target price of $104.00 for the company and are expecting that the company will post $0.93 EPS for the current quarter, according to Zacks. Zacks has also given Alamo Group an industry rank of 23 out of 265 based on the ratings given to related companies.
A number of analysts have recently weighed in on ALG shares. Zacks Investment Research upgraded shares of Alamo Group from a “hold” rating to a “buy” rating and set a $104.00 target price on the stock in a report on Tuesday, August 8th. ValuEngine downgraded shares of Alamo Group from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. BidaskClub downgraded shares of Alamo Group from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Finally, Piper Jaffray Companies set a $104.00 target price on shares of Alamo Group and gave the stock a “buy” rating in a report on Sunday, October 1st.
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Shares of Alamo Group (NYSE:ALG) traded up $2.38 during trading hours on Friday, hitting $117.39. The stock had a trading volume of 78,226 shares, compared to its average volume of 52,221. Alamo Group has a 52-week low of $70.53 and a 52-week high of $117.89. The company has a market capitalization of $1,370.00, a PE ratio of 26.28 and a beta of 0.93. The company has a quick ratio of 2.85, a current ratio of 4.48 and a debt-to-equity ratio of 0.28.
Alamo Group (NYSE:ALG) last posted its earnings results on Tuesday, October 31st. The industrial products company reported $1.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.16. Alamo Group had a net margin of 5.56% and a return on equity of 12.11%. The company had revenue of $240.46 million during the quarter, compared to analyst estimates of $223.40 million. research analysts expect that Alamo Group will post 4.34 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Monday, October 16th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, October 13th. This represents a $0.40 annualized dividend and a yield of 0.34%. Alamo Group’s payout ratio is 9.59%.
In related news, VP Geoff Davies sold 4,000 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $98.16, for a total transaction of $392,640.00. Following the completion of the sale, the vice president now owns 3,800 shares of the company’s stock, valued at $373,008. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Richard Hodges Raborn sold 364 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $92.19, for a total transaction of $33,557.16. Following the sale, the executive vice president now directly owns 4,500 shares of the company’s stock, valued at approximately $414,855. The disclosure for this sale can be found here. Insiders sold a total of 6,364 shares of company stock worth $649,257 over the last 90 days. Insiders own 3.99% of the company’s stock.
A number of large investors have recently bought and sold shares of ALG. BlackRock Inc. raised its holdings in shares of Alamo Group by 1,076.3% in the first quarter. BlackRock Inc. now owns 1,275,432 shares of the industrial products company’s stock worth $97,174,000 after buying an additional 1,167,004 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Alamo Group by 226.2% in the third quarter. American Century Companies Inc. now owns 73,931 shares of the industrial products company’s stock worth $7,938,000 after buying an additional 51,270 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Alamo Group by 9.0% in the first quarter. Vanguard Group Inc. now owns 496,485 shares of the industrial products company’s stock worth $37,828,000 after buying an additional 41,187 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Alamo Group by 69.9% in the second quarter. Ameriprise Financial Inc. now owns 95,920 shares of the industrial products company’s stock worth $8,711,000 after acquiring an additional 39,455 shares during the period. Finally, Prudential Financial Inc. increased its stake in shares of Alamo Group by 80.9% in the second quarter. Prudential Financial Inc. now owns 62,659 shares of the industrial products company’s stock worth $5,690,000 after acquiring an additional 28,030 shares during the period. 89.36% of the stock is owned by institutional investors.
Alamo Group Company Profile
Alamo Group Inc is engaged in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. The Company operates in Industrial, Agricultural and European segments. The Company’s products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket.
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