Alamo Group (NYSE:ALG) Downgraded to Hold Rating by Wall Street Zen

Key Points

• Alamo Group has been downgraded from a "buy" rating to a "hold" rating by analysts at Wall Street Zen, indicating a more cautious outlook on the stock.
• Despite the downgrade, other analysts have mixed opinions, with some upgrading their ratings and setting a consensus price target of $234.00 for Alamo Group shares.
• Alamo Group's latest earnings report showed a miss on EPS estimates but exceeded revenue expectations, emphasizing ongoing investor interest in its financial performance.

Alamo Group (NYSE:ALG - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Sunday.

Several other equities analysts also recently commented on ALG. DA Davidson reissued a "neutral" rating and issued a $225.00 target price on shares of Alamo Group in a report on Tuesday, July 22nd. Baird R W upgraded shares of Alamo Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 4th. Finally, Robert W. Baird upgraded shares of Alamo Group from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $209.00 to $260.00 in a research note on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Alamo Group has an average rating of "Buy" and an average target price of $234.00.

Alamo Group Stock Down 1.9%

Shares of ALG stock traded down $4.17 during trading hours on Friday, hitting $213.37. 17,011 shares of the company's stock traded hands, compared to its average volume of 110,030. The stock's fifty day simple moving average is $220.62 and its two-hundred day simple moving average is $197.86. Alamo Group has a 12-month low of $157.07 and a 12-month high of $233.29. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 21.67, a PEG ratio of 1.14 and a beta of 1.10. The company has a quick ratio of 2.76, a current ratio of 4.56 and a debt-to-equity ratio of 0.18.

Alamo Group (NYSE:ALG - Get Free Report) last announced its earnings results on Wednesday, August 6th. The industrial products company reported $2.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.69 by ($0.12). The business had revenue of $419.07 million for the quarter, compared to the consensus estimate of $406.75 million. Alamo Group had a net margin of 7.41% and a return on equity of 11.45%. On average, analysts expect that Alamo Group will post 9.53 EPS for the current year.

Insider Transactions at Alamo Group

In related news, CEO Jeffery Allen Leonard sold 2,500 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $222.19, for a total transaction of $555,475.00. Following the sale, the chief executive officer owned 38,413 shares of the company's stock, valued at $8,534,984.47. This represents a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.18% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alamo Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC increased its stake in Alamo Group by 80.0% in the 1st quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company's stock worth $29,000 after buying an additional 72 shares during the period. GAMMA Investing LLC increased its stake in Alamo Group by 110.6% in the 1st quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company's stock worth $42,000 after buying an additional 125 shares during the period. Nisa Investment Advisors LLC increased its stake in Alamo Group by 30.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company's stock worth $47,000 after buying an additional 61 shares during the period. Smartleaf Asset Management LLC increased its stake in Alamo Group by 31.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 271 shares of the industrial products company's stock worth $49,000 after buying an additional 65 shares during the period. Finally, Jones Financial Companies Lllp increased its stake in Alamo Group by 3,140.0% in the 1st quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company's stock worth $58,000 after buying an additional 314 shares during the period. Hedge funds and other institutional investors own 92.36% of the company's stock.

About Alamo Group

Alamo Group Inc designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. It operates through two segments, Vegetation Management and Industrial Equipment. Its Vegetation Management Division segment offers hydraulically-powered and tractor - and off-road chassis mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.