Alamo Group, Inc. (ALG) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of Alamo Group, Inc. (NYSE:ALG) from a hold rating to a buy rating in a research report released on Tuesday morning. Zacks Investment Research currently has $100.00 target price on the industrial products company’s stock.
According to Zacks, “Alamo Group Inc. is a leading manufacturer of high quality equipment for right-of-way maintenance and agriculture. Their products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, agricultural implements and related after market parts and services. They emphasize high quality, cost efficient products for their customers and strive to develop and market innovative products while constantly monitoring and containing their manufacturing and overhead costs. “
A number of other equities research analysts also recently issued reports on ALG. Seaport Global Securities increased their price objective on Alamo Group from $71.00 to $80.00 and gave the stock a neutral rating in a research report on Monday, May 8th. BidaskClub raised Alamo Group from a hold rating to a buy rating in a research note on Tuesday, June 13th. Finally, Piper Jaffray Companies reissued a buy rating and issued a $90.00 target price on shares of Alamo Group in a research note on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Alamo Group currently has an average rating of Hold and an average price target of $94.67.
Alamo Group (ALG) opened at 92.02 on Tuesday. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 23.66 and a beta of 0.95. The stock has a 50 day moving average price of $91.60 and a 200 day moving average price of $84.18. Alamo Group has a 52 week low of $58.30 and a 52 week high of $95.62.
Alamo Group (NYSE:ALG) last issued its quarterly earnings data 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. Alamo Group had a return on equity of 11.78% and a net margin of 5.32%. The company had revenue of $213.28 million for the quarter, compared to the consensus estimate of $217.90 million. On average, equities analysts forecast that Alamo Group will post $4.21 earnings per share for the current year.
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In other news, VP Dan Edward Malone sold 950 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $90.75, for a total transaction of $86,212.50. Following the completion of the sale, the vice president now directly owns 11,950 shares in the company, valued at $1,084,462.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David W. Grzelak sold 2,201 shares of the stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $92.18, for a total transaction of $202,888.18. Following the sale, the director now owns 1,325 shares of the company’s stock, valued at $122,138.50. The disclosure for this sale can be found here. Insiders have sold 3,335 shares of company stock worth $305,830 over the last ninety days. Insiders own 3.99% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Pinebridge Investments L.P. raised its stake in shares of Alamo Group by 1.4% in the second quarter. Pinebridge Investments L.P. now owns 1,248 shares of the industrial products company’s stock valued at $113,000 after buying an additional 17 shares during the period. Texas Permanent School Fund raised its stake in shares of Alamo Group by 1.2% in the second quarter. Texas Permanent School Fund now owns 6,915 shares of the industrial products company’s stock valued at $628,000 after buying an additional 80 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of Alamo Group by 2.6% in the second quarter. Louisiana State Employees Retirement System now owns 3,900 shares of the industrial products company’s stock valued at $354,000 after buying an additional 100 shares during the period. Mason Street Advisors LLC raised its stake in shares of Alamo Group by 7.0% in the first quarter. Mason Street Advisors LLC now owns 2,207 shares of the industrial products company’s stock valued at $168,000 after buying an additional 144 shares during the period. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Alamo Group by 10.0% in the first quarter. BNP Paribas Arbitrage SA now owns 1,712 shares of the industrial products company’s stock valued at $130,000 after buying an additional 156 shares during the period. Institutional investors own 90.27% of the company’s stock.
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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