Alamo Group (NYSE:ALG) Rating Lowered to "Hold" at Wall Street Zen

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 to clients and investors on Friday.

Other research analysts have also issued reports about the company. DA Davidson lowered their target price on Alamo Group from $217.00 to $195.00 and set a "buy" rating on the stock in a report on Monday, April 21st. Baird R W lowered Alamo Group from a "strong-buy" rating to a "hold" rating in a report on Friday, February 28th. Robert W. Baird lowered Alamo Group from an "outperform" rating to a "neutral" rating and lowered their target price for the stock from $224.00 to $177.00 in a report on Friday, February 28th. Finally, Industrial Alliance Securities set a $217.00 target price on Alamo Group in a report on Monday, March 3rd.

Alamo Group Stock Performance

Shares of NYSE ALG traded up $2.28 during midday trading on Friday, reaching $207.59. 50,730 shares of the company traded hands, compared to its average volume of 96,421. Alamo Group has a 52 week low of $157.07 and a 52 week high of $208.68. The stock has a 50-day moving average price of $182.41 and a 200 day moving average price of $185.38. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 20.90 and a beta of 1.07.

Alamo Group (NYSE:ALG - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts' consensus estimates of $2.33 by $0.32. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. The business had revenue of $390.95 million for the quarter, compared to analysts' expectations of $391.08 million. Sell-side analysts anticipate that Alamo Group will post 9.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alamo Group news, EVP Richard Hodges Raborn sold 500 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $201.84, for a total transaction of $100,920.00. Following the sale, the executive vice president now owns 12,948 shares in the company, valued at approximately $2,613,424.32. The trade was a 3.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffery Allen Leonard sold 3,500 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $201.52, for a total value of $705,320.00. Following the sale, the chief executive officer now owns 40,913 shares in the company, valued at approximately $8,244,787.76. The trade was a 7.88% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.18% of the company's stock.

Institutional Trading of Alamo Group

Several institutional investors and hedge funds have recently bought and sold shares of ALG. Cornerstone Investment Partners LLC increased its holdings in shares of Alamo Group by 2.2% in the 4th quarter. Cornerstone Investment Partners LLC now owns 2,606 shares of the industrial products company's stock valued at $484,000 after purchasing an additional 56 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Alamo Group by 30.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company's stock valued at $47,000 after purchasing an additional 61 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Alamo Group by 31.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 271 shares of the industrial products company's stock valued at $49,000 after purchasing an additional 65 shares during the period. Summit Investment Advisors Inc. increased its holdings in shares of Alamo Group by 6.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the industrial products company's stock valued at $199,000 after purchasing an additional 69 shares during the period. Finally, Parallel Advisors LLC increased 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 valued at $29,000 after purchasing an additional 72 shares during the period. Institutional investors and hedge funds own 92.36% of the company's stock.

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.

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