Alamo Group (NYSE:ALG) Upgraded at StockNews.com

Alamo Group (NYSE:ALG - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued on Thursday.

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

Alamo Group Price Performance

ALG stock traded down $1.74 during mid-day trading on Thursday, hitting $197.58. 3,378 shares of the stock were exchanged, compared to its average volume of 111,653. The business has a fifty day moving average price of $178.64 and a 200 day moving average price of $184.71. Alamo Group has a 12 month low of $157.07 and a 12 month high of $205.62. 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 stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of 19.90 and a beta of 1.02.

Alamo Group (NYSE:ALG - Get Free Report) last announced 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. The company had revenue of $390.95 million for the quarter, compared to analysts' expectations of $391.08 million. Alamo Group had a return on equity of 12.41% and a net margin of 7.19%. On average, sell-side analysts anticipate that Alamo Group will post 9.53 EPS for the current year.

Insider Buying and Selling

In other Alamo Group news, EVP Richard Hodges Raborn sold 500 shares of the 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 completion of the sale, the executive vice president now owns 12,948 shares in the company, valued at approximately $2,613,424.32. This trade represents a 3.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffery Allen Leonard sold 3,500 shares of Alamo Group stock in a transaction that occurred on 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 owns 40,913 shares in the company, 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. 1.18% of the stock is owned by insiders.

Institutional Trading of Alamo Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC raised its holdings 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 purchasing an additional 72 shares in the last quarter. Smartleaf Asset Management LLC increased its position 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 valued at $38,000 after buying an additional 168 shares during the period. GAMMA Investing LLC raised its stake in Alamo Group by 110.6% in the first quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company's stock worth $42,000 after buying an additional 125 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Alamo Group by 30.0% in the first quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company's stock worth $47,000 after buying an additional 61 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in Alamo Group by 3,140.0% in the first quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company's stock worth $58,000 after buying an additional 314 shares during the period. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.