Alto Ingredients (NASDAQ:ALTO) Stock Rating Cut to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Alto Ingredients from “strong buy” to “buy.” Across analysts, the stock has a “Moderate Buy” consensus rating and a $10 consensus price target.
• Alto reported quarterly EPS of $0.16, beating the $0.09 estimate, and revenue of $257.89 million, above the $250.97 million consensus.
• ALTO opened at $3.66, down 1.3%; its shares had traded between $1.87 and $6.11 over the prior year.

Alto Ingredients (NASDAQ:ALTO - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other equities research analysts also recently commented on ALTO. Scotiabank set a $10.00 price objective on Alto Ingredients in a research report on Thursday, August 6th. Benchmark upgraded Alto Ingredients to a "strong-buy" rating in a research report on Wednesday, September 30th. Weiss Ratings reissued a "hold (c)" rating on shares of Alto Ingredients in a research note on Thursday, October 29th. Finally, HC Wainwright reissued a "buy" rating on shares of Alto Ingredients in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $10.00.

Alto Ingredients Stock Down 1.3%

ALTO stock opened at $3.66 on Friday. The stock has a market capitalization of $283.91 million, a P/E ratio of 5.72 and a beta of 0.13. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.17 and a current ratio of 3.39. Alto Ingredients has a one year low of $1.87 and a one year high of $6.11. The company has a 50 day moving average price of $3.75 and a two-hundred day moving average price of $4.30.

Alto Ingredients (NASDAQ:ALTO - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.07. Alto Ingredients had a return on equity of 17.16% and a net margin of 5.29%. The company had revenue of $257.89 million during the quarter, compared to the consensus estimate of $250.97 million. As a group, sell-side analysts expect that Alto Ingredients will post 0.48 EPS for the current year.

Insiders Place Their Bets

In related news, Director Gilbert Nathan purchased 10,000 shares of the business's stock in a transaction on Monday, September 14th. The shares were bought at an average price of $3.93 per share, with a total value of $39,300.00. Following the completion of the purchase, the director directly owned 866,393 shares in the company, valued at approximately $3,404,924.49. This trade represents a 1.17% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 4.28% of the stock is currently owned by corporate insiders.

Institutional Trading of Alto Ingredients

Several institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP purchased a new position in shares of Alto Ingredients in the 3rd quarter worth $508,000. Aquamarine Financial Cayman Ltd acquired a new position in Alto Ingredients in the third quarter valued at $184,000. First Trust Advisors LP acquired a new position in Alto Ingredients in the third quarter valued at $1,242,000. Ritholtz Wealth Management purchased a new stake in Alto Ingredients during the third quarter valued at about $382,000. Finally, StoneX Group Inc. purchased a new stake in Alto Ingredients during the third quarter valued at about $111,000. 42.44% of the stock is owned by hedge funds and other institutional investors.

Alto Ingredients Company Profile

Alto Ingredients, Inc. produces and markets specialty alcohols, renewable fuel and related agricultural products. Its alcohol products serve a range of food and beverage, health and personal care, pharmaceutical, and industrial applications. The company also makes fuel-grade ethanol and ethanol-production co-products, including animal feed ingredients and corn oil. These products support customers in the renewable fuels and agricultural markets. Formerly known as Pacific Ethanol, Inc., the company adopted the Alto Ingredients name in 2021 as it emphasized its broader portfolio of alcohols and essential ingredients.

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