Wall Street Zen Upgrades Alamo Group (NYSE:ALG) to "Buy"

Key Points

• Alamo Group's stock rating was upgraded from "hold" to "buy" by Wall Street Zen, indicating a shift in analyst sentiment regarding the company.
• Analysts at Robert W. Baird raised their target price for Alamo Group from $209.00 to $260.00, reflecting optimism about the company's performance.
• Alamo Group reported a quarterly earnings per share of $2.57, which was below analysts' expectations, although revenue exceeded predictions at $419.07 million.

Alamo Group (NYSE:ALG - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

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

Alamo Group Price Performance

NYSE:ALG traded down $4.79 during trading hours on Friday, reaching $220.22. The stock had a trading volume of 20,068 shares, compared to its average volume of 111,812. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.76 and a current ratio of 4.56. Alamo Group has a 52 week low of $157.07 and a 52 week high of $233.29. The company has a 50 day moving average price of $220.16 and a two-hundred day moving average price of $196.35. The stock has a market capitalization of $2.67 billion, a PE ratio of 22.43, a PEG ratio of 1.16 and a beta of 1.10.

Alamo Group (NYSE:ALG - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.57 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.69 by ($0.12). The firm had revenue of $419.07 million during the quarter, compared to the consensus estimate of $406.75 million. Alamo Group had a return on equity of 11.45% and a net margin of 7.41%. As a group, sell-side analysts anticipate that Alamo Group will post 9.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alamo Group

Several hedge funds have recently made changes to their positions in ALG. Parallel Advisors LLC lifted its holdings in shares of 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 lifted its stake in shares of Alamo Group by 110.6% during the 1st quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company's stock worth $42,000 after purchasing an additional 125 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Alamo Group by 30.0% during the 1st 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 during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Alamo Group by 31.6% during the 1st 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 during the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in shares of Alamo Group by 3,140.0% during the 1st 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 during the last quarter. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

Alamo Group Company Profile

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.