Alamo Group (NYSE:ALG) Raised to Strong-Buy at Baird R W

Key Points

• Alamo Group was upgraded from a "hold" to a "strong-buy" rating by Baird R W, with a new price target set at $260.00.
• Shares of Alamo Group rose 4.9% following the positive ratings and are currently trading at approximately $226.16.
• Insider transactions included CEO Jeffery Allen Leonard selling 3,500 shares, reflecting a 7.88% decrease in his ownership stake.

Alamo Group (NYSE:ALG - Get Free Report) was upgraded by research analysts at Baird R W from a "hold" rating to a "strong-buy" rating in a note issued to investors on Monday,Zacks.com reports.

Several other analysts also recently weighed in on the company. Robert W. Baird upgraded Alamo Group from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $209.00 to $260.00 in a report on Monday. DA Davidson restated a "neutral" rating and issued a $225.00 price objective on shares of Alamo Group in a report on Tuesday, July 22nd. Finally, Wall Street Zen downgraded Alamo Group from a "buy" rating to a "hold" rating in a report on Saturday, July 26th.

Alamo Group Stock Up 4.9%

Shares of ALG opened at $226.16 on Monday. The company has a market cap of $2.73 billion, a PE ratio of 23.56, a P/E/G ratio of 1.11 and a beta of 1.10. The business has a fifty day moving average of $215.77 and a 200 day moving average of $193.64. Alamo Group has a 52-week low of $157.07 and a 52-week high of $230.15. The company has a quick ratio of 2.62, a current ratio of 4.30 and a debt-to-equity ratio of 0.19.

Alamo Group (NYSE:ALG - Get Free Report) last released its earnings results on Thursday, May 8th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.32. Alamo Group had a return on equity of 11.56% and a net margin of 7.25%. The business had revenue of $390.95 million during the quarter, compared to the consensus estimate of $391.08 million. On average, sell-side analysts expect that Alamo Group will post 9.53 EPS for the current year.

Insider Buying and Selling

In other news, CEO Jeffery Allen Leonard sold 3,500 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $201.52, for a total transaction of $705,320.00. Following the completion of the transaction, the chief executive officer directly owned 40,913 shares of the company's stock, valued at $8,244,787.76. This represents a 7.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Richard Hodges Raborn sold 500 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $201.84, for a total value of $100,920.00. Following the transaction, the executive vice president directly owned 12,948 shares of the company's stock, valued at approximately $2,613,424.32. The trade was a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.18% of the company's stock.

Institutional Trading of Alamo Group

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

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.

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