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

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

Several other research analysts have also weighed in on the company. Weiss Ratings raised Alto Ingredients from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Monday, March 16th. Zacks Research upgraded Alto Ingredients from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy”.

Alto Ingredients Trading Up 1.6%

NASDAQ ALTO opened at $4.38 on Monday. The firm’s 50 day moving average price is $3.16 and its two-hundred day moving average price is $2.30. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.60 and a current ratio of 2.64. Alto Ingredients has a twelve month low of $0.76 and a twelve month high of $4.89. The stock has a market cap of $338.53 million, a price-to-earnings ratio of 27.38 and a beta of 0.60.

Alto Ingredients (NASDAQ:ALTO) last released its earnings results on Wednesday, March 4th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.17. The company had revenue of $231.97 million during the quarter, compared to analyst estimates of $234.83 million. Alto Ingredients had a return on equity of 2.99% and a net margin of 1.45%. Equities analysts anticipate that Alto Ingredients will post -0.37 EPS for the current year.

Hedge Funds Weigh In On Alto Ingredients

Several institutional investors and hedge funds have recently modified their holdings of ALTO. Empowered Funds LLC increased its stake in shares of Alto Ingredients by 8.5% in the first quarter. Empowered Funds LLC now owns 275,552 shares of the company’s stock worth $314,000 after acquiring an additional 21,626 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Alto Ingredients by 2,539,250.0% during the second 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 during the last quarter. Corsair Capital Management L.P. boosted its position 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 valued at $58,000 after purchasing an additional 20,383 shares during the last quarter. Bridgeway Capital Management LLC grew its stake in Alto Ingredients by 5.9% in the second quarter. Bridgeway Capital Management LLC now owns 487,059 shares of the company’s stock valued at $560,000 after purchasing an additional 27,007 shares in the last quarter. Finally, Peapod Lane Capital LLC grew its stake in Alto Ingredients by 1.1% in the third quarter. Peapod Lane Capital LLC now owns 1,235,124 shares of the company’s stock valued at $1,334,000 after purchasing an additional 13,282 shares in the last quarter. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Alto Ingredients Company Profile

Alto Ingredients, Inc (NASDAQ: ALTO) is a diversified producer of alcohol-based products and specialty ingredients for industrial, food, beverage and personal care applications. The company’s core offering centers on ethanol produced for fuel markets, as well as an expanding portfolio of natural and organic alcohols, glycerin and other ingredient solutions. Alto’s product lines serve a range of end markets, including renewable fuels, confectionery, flavorings, cosmetics and sanitizers.

Headquartered in Dallas, Texas, Alto Ingredients operates a network of production facilities across the United States.