Alto Ingredients (NASDAQ:ALTO) Stock Rating Lowered by Zacks Research

Alto Ingredients (NASDAQ:ALTO - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

A number of other equities analysts also recently commented on the company. Wall Street Zen raised Alto Ingredients from a "buy" rating to a "strong-buy" rating in a research report on Monday, March 23rd. Weiss Ratings raised shares of Alto Ingredients from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of "Hold".

Alto Ingredients Stock Up 9.5%

Shares of NASDAQ ALTO opened at $5.99 on Monday. The stock has a market cap of $462.97 million, a P/E ratio of 37.44 and a beta of 0.14. The company has a current ratio of 2.64, a quick ratio of 1.60 and a debt-to-equity ratio of 0.26. Alto Ingredients has a 12-month low of $0.80 and a 12-month high of $6.00. The business's fifty day simple moving average is $4.39 and its 200-day simple moving average is $3.03.

Alto Ingredients (NASDAQ:ALTO - Get Free Report) last released its earnings results on Wednesday, March 4th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.02 by $0.17. Alto Ingredients had a return on equity of 2.99% and a net margin of 1.45%.The firm had revenue of $231.97 million during the quarter, compared to analysts' expectations of $234.83 million. As a group, equities analysts predict that Alto Ingredients will post 0.19 EPS for the current fiscal year.

Institutional Trading of Alto Ingredients

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Marshall Wace LLP acquired a new position in shares of Alto Ingredients during the 4th quarter worth about $3,324,000. Hillsdale Investment Management Inc. increased its holdings in shares of Alto Ingredients by 590.1% in the 1st quarter. Hillsdale Investment Management Inc. now owns 1,000,703 shares of the company's stock valued at $4,843,000 after acquiring an additional 855,703 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Alto Ingredients by 169.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 715,180 shares of the company's stock worth $2,060,000 after acquiring an additional 449,697 shares in the last quarter. Millennium Management LLC lifted its stake in Alto Ingredients by 2,967.5% during the fourth quarter. Millennium Management LLC now owns 369,513 shares of the company's stock worth $1,064,000 after purchasing an additional 357,467 shares during the last quarter. Finally, Truffle Hound Capital LLC purchased a new stake in Alto Ingredients during the fourth quarter worth approximately $864,000. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Alto Ingredients Company Profile

Alto Ingredients, Inc NASDAQ: ALTO is a diversified producer of alcohol-based products and specialty ingredients for industrial, food, beverage and personal care applications. The company’s core offering centers on ethanol produced for fuel markets, as well as an expanding portfolio of natural and organic alcohols, glycerin and other ingredient solutions. Alto’s product lines serve a range of end markets, including renewable fuels, confectionery, flavorings, cosmetics and sanitizers.

Headquartered in Dallas, Texas, Alto Ingredients operates a network of production facilities across the United States.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.