Alto Ingredients (NASDAQ:ALTO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Alto Ingredients (NASDAQ:ALTO) from a hold rating to a buy rating in a research report released on Sunday morning.

A number of other brokerages have also issued reports on ALTO. Zacks Research upgraded shares of Alto Ingredients from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alto Ingredients in a report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Alto Ingredients has a consensus rating of “Moderate Buy” and a consensus target price of $5.50.

Alto Ingredients Stock Up 2.5%

Alto Ingredients stock opened at $2.04 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.52 and a quick ratio of 2.25. Alto Ingredients has a 1-year low of $0.76 and a 1-year high of $2.12. The stock has a market cap of $157.78 million, a PE ratio of -2.22 and a beta of 0.62. The stock’s fifty day moving average is $1.23 and its two-hundred day moving average is $1.13.

Alto Ingredients (NASDAQ:ALTO) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.25. Alto Ingredients had a negative return on equity of 18.78% and a negative net margin of 7.16%.The firm had revenue of $240.99 million during the quarter, compared to the consensus estimate of $235.68 million. On average, sell-side analysts expect that Alto Ingredients will post -0.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Alto Ingredients

Institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new position in shares of Alto Ingredients in the 3rd quarter valued at about $52,000. JPMorgan Chase & Co. increased its stake in Alto Ingredients by 2,539,250.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 50,787 shares of the company’s stock valued at $58,000 after purchasing an additional 50,785 shares in the last quarter. Corsair Capital Management L.P. raised its holdings in Alto Ingredients by 67.7% during the second quarter. Corsair Capital Management L.P. now owns 50,500 shares of the company’s stock worth $58,000 after purchasing an additional 20,383 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new position in Alto Ingredients during the first quarter worth $199,000. Finally, Empowered Funds LLC boosted its position in Alto Ingredients by 8.5% during the first quarter. Empowered Funds LLC now owns 275,552 shares of the company’s stock worth $314,000 after purchasing an additional 21,626 shares in the last quarter. 42.44% of the stock is owned by institutional investors and hedge funds.

Alto Ingredients Company Profile

Alto Ingredients, Inc produces, distributes, and markets specialty alcohols, renewable fuel, and essential ingredients in the United States. The company operates in three segments: Marketing and Distribution, Pekin Campus Production, and Western Production. It offers specialty alcohols used in mouthwash, cosmetics, pharmaceuticals, hand sanitizers, disinfectants, and cleaners for health, home, and beauty markets; grain neutral spirits used in alcoholic beverages and vinegar, as well as corn germ used in corn oils in the food and beverage markets; alcohols and other products for paint applications and fertilizers in the industrial and agriculture markets; and essential ingredients include dried yeast, corn protein meal, corn protein feed, distiller's grains, and liquid feed for commercial animal feed and pet food applications, as well as yeast for human consumption.