Alamo Group, Inc. (NYSE:ALG) has been assigned a $104.00 price target by equities research analysts at Piper Jaffray Companies in a report released on Sunday. The firm presently has a “buy” rating on the industrial products company’s stock. Piper Jaffray Companies’ price target points to a potential downside of 3.14% from the company’s current price.

Other equities analysts also recently issued reports about the company. BidaskClub upgraded Alamo Group from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Zacks Investment Research downgraded shares of Alamo Group from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. Finally, ValuEngine raised shares of Alamo Group from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $99.33.

Alamo Group (NYSE:ALG) traded up 0.45% during midday trading on Friday, reaching $107.85. 24,248 shares of the company traded hands. The company’s 50-day moving average price is $91.84 and its 200 day moving average price is $85.65. The firm has a market capitalization of $1.25 billion, a PE ratio of 27.72 and a beta of 0.95. Alamo Group has a 12 month low of $58.30 and a 12 month high of $108.50.

Alamo Group (NYSE:ALG) last announced its earnings results on Wednesday, August 2nd. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.05. The firm had revenue of $213.28 million for the quarter, compared to analyst estimates of $217.90 million. Alamo Group had a net margin of 5.32% and a return on equity of 11.78%. On average, equities analysts anticipate that Alamo Group will post $4.21 earnings per share for the current year.

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In other Alamo Group news, VP Geoff Davies sold 4,000 shares of Alamo Group 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 transaction, the vice president now directly owns 3,800 shares of the company’s stock, valued at $373,008. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Richard Hodges Raborn sold 364 shares of Alamo Group 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 transaction, the executive vice president now directly owns 4,500 shares in the company, valued at $414,855. The disclosure for this sale can be found here. Insiders own 3.99% of the company’s stock.

Several hedge funds have recently modified their holdings of ALG. BlackRock Inc. boosted its position in Alamo Group by 8.0% during the 2nd quarter. BlackRock Inc. now owns 1,377,440 shares of the industrial products company’s stock worth $125,086,000 after purchasing an additional 102,008 shares during the period. Vanguard Group Inc. grew its position in Alamo Group by 5.7% in the second quarter. Vanguard Group Inc. now owns 524,765 shares of the industrial products company’s stock valued at $47,654,000 after acquiring an additional 28,280 shares in the last quarter. State Street Corp grew its position in Alamo Group by 5.7% in the second quarter. State Street Corp now owns 225,191 shares of the industrial products company’s stock valued at $20,447,000 after acquiring an additional 12,110 shares in the last quarter. Northern Trust Corp grew its position in Alamo Group by 12.9% in the second quarter. Northern Trust Corp now owns 195,300 shares of the industrial products company’s stock valued at $17,735,000 after acquiring an additional 22,244 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Alamo Group by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 182,213 shares of the industrial products company’s stock valued at $16,547,000 after acquiring an additional 2,973 shares in the last quarter. 90.30% of the stock is currently owned by institutional investors and hedge funds.

About Alamo Group

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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