Alamo Group (NYSE:ALG) Cut to Hold at Wall Street Zen

Alamo Group (NYSE:ALG - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Friday.

A number of other brokerages have also recently weighed in on ALG. Baird R W cut Alamo Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 28th. Robert W. Baird cut shares of Alamo Group from an "outperform" rating to a "neutral" rating and decreased their target price for the company from $224.00 to $177.00 in a research report on Friday, February 28th. Industrial Alliance Securities set a $217.00 target price on shares of Alamo Group in a research report on Monday, March 3rd. Finally, DA Davidson decreased their target price on shares of Alamo Group from $217.00 to $195.00 and set a "buy" rating for the company in a research report on Monday, April 21st.

Alamo Group Stock Up 1.1%

Shares of ALG traded up $2.34 during mid-day trading on Friday, hitting $209.50. The company's stock had a trading volume of 246,121 shares, compared to its average volume of 97,215. The company's 50-day moving average is $182.41 and its 200-day moving average is $185.26. Alamo Group has a 52-week low of $157.07 and a 52-week high of $211.07. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 21.10 and a beta of 1.07. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21.

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 (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.32. The company had revenue of $390.95 million for the quarter, compared to analyst estimates of $391.08 million. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. On average, equities research analysts forecast that Alamo Group will post 9.53 EPS for the current fiscal year.

Insider Buying and Selling at Alamo Group

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ALG. Barclays PLC raised its holdings in shares of Alamo Group by 204.7% in the third quarter. Barclays PLC now owns 22,417 shares of the industrial products company's stock worth $4,039,000 after buying an additional 15,061 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Alamo Group by 17.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 1,972 shares of the industrial products company's stock worth $367,000 after purchasing an additional 290 shares during the last quarter. KBC Group NV raised its stake in shares of Alamo Group by 57.1% in the fourth quarter. KBC Group NV now owns 520 shares of the industrial products company's stock worth $97,000 after purchasing an additional 189 shares during the last quarter. Choreo LLC purchased a new position in shares of Alamo Group in the fourth quarter worth about $201,000. Finally, GHP Investment Advisors Inc. raised its stake in shares of Alamo Group by 8.8% in the fourth quarter. GHP Investment Advisors Inc. now owns 11,152 shares of the industrial products company's stock worth $2,073,000 after purchasing an additional 900 shares during the last quarter. 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.