Alamo Group (NYSE:ALG) Upgraded at Wall Street Zen

Alamo Group (NYSE:ALG - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

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

Alamo Group Trading Up 0.2%

Shares of ALG stock traded up $0.38 on Friday, reaching $216.94. 148,465 shares of the stock were exchanged, compared to its average volume of 98,601. The stock has a market cap of $2.62 billion, a P/E ratio of 22.60 and a beta of 1.07. The company has a quick ratio of 2.62, a current ratio of 4.30 and a debt-to-equity ratio of 0.19. The firm has a 50 day moving average of $188.89 and a two-hundred day moving average of $186.06. Alamo Group has a 1-year low of $157.07 and a 1-year high of $218.53.

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

Insider Activity at Alamo Group

In other news, EVP Richard Hodges Raborn sold 500 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 12,948 shares in the company, valued at $2,613,424.32. This represents a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffery Allen Leonard sold 3,500 shares of the 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 completion of the sale, the chief executive officer now directly owns 40,913 shares of the company's stock, valued at approximately $8,244,787.76. This represents a 7.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.18% of the company's stock.

Institutional Trading of Alamo Group

A number of hedge funds have recently made changes to their positions in ALG. Parallel Advisors LLC lifted its position 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 in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Alamo Group by 442.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company's stock worth $38,000 after acquiring an additional 168 shares in the last quarter. GAMMA Investing LLC raised its holdings 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 acquiring an additional 125 shares in the last quarter. Nisa Investment Advisors LLC raised 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 in the last quarter. Finally, Jones Financial Companies Lllp raised 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 in the last quarter. 92.36% of the stock is 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.