Alamo Group (NYSE:ALG) Upgraded by Robert W. Baird to Outperform Rating

Key Points

• Alamo Group has been upgraded by Robert W. Baird from a "neutral" to an "outperform" rating, with a new price target of $260.00, reflecting a potential upside of 20.57% from its current price.
• The company's most recent earnings report showed an EPS of $2.65, exceeding the consensus estimate of $2.33, while revenue was slightly below expectations at $390.95 million.
• Institutional ownership of Alamo Group is high at 92.36%, with significant recent purchases from firms like Vanguard Group and Victory Capital Management.

Alamo Group (NYSE:ALG - Get Free Report) was upgraded by stock analysts at Robert W. Baird from a "neutral" rating to an "outperform" rating in a research note issued on Monday,Benzinga reports. The brokerage presently has a $260.00 price target on the industrial products company's stock, up from their prior price target of $209.00. Robert W. Baird's price objective indicates a potential upside of 20.57% from the stock's current price.

Other research analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Alamo Group from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. DA Davidson reiterated a "neutral" rating and issued a $225.00 price objective on shares of Alamo Group in a report on Tuesday, July 22nd.

Alamo Group Trading Down 3.1%

Shares of ALG stock opened at $215.64 on Monday. Alamo Group has a fifty-two week low of $157.07 and a fifty-two week high of $230.15. The stock's fifty day moving average price is $215.19 and its two-hundred day moving average price is $193.34. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.62 and a current ratio of 4.30. The company has a market cap of $2.61 billion, a PE ratio of 22.46, a P/E/G ratio of 1.11 and a beta of 1.10.

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

Insider Transactions at Alamo Group

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

Institutional Trading of Alamo Group

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Alamo Group by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 768,973 shares of the industrial products company's stock valued at $137,039,000 after purchasing an additional 47,819 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Alamo Group by 4.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 699,563 shares of the industrial products company's stock worth $125,732,000 after purchasing an additional 26,835 shares during the period. Victory Capital Management Inc. increased its holdings in Alamo Group by 12.9% in the first quarter. Victory Capital Management Inc. now owns 506,815 shares of the industrial products company's stock worth $90,320,000 after purchasing an additional 58,097 shares in the last quarter. Westwood Holdings Group Inc. lifted its stake in Alamo Group by 22.9% in the first quarter. Westwood Holdings Group Inc. now owns 400,860 shares of the industrial products company's stock valued at $71,437,000 after buying an additional 74,679 shares during the period. Finally, Ninepoint Partners LP acquired a new position in Alamo Group in the first quarter valued at approximately $40,988,000. 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.

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