Weiss Ratings Reiterates Buy (B-) Rating for Alamo Group (NYSE:ALG)

Key Points

• Weiss Ratings has reaffirmed a "Buy (B-)" rating for Alamo Group, suggesting strong investor confidence in the company's performance.
• Alamo Group's stock has currently reached $191.17, with a market capitalization of $2.32 billion and an average target price of $234.00 among analysts.
• CEO Jeffery Allen Leonard sold 2,500 shares at an average price of $222.19, reflecting a 6.11% decrease in his ownership stake in the company.

Alamo Group (NYSE:ALG - Get Free Report)'s stock had its "buy (b-)" rating reissued by equities researchers at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Other equities analysts also recently issued research reports about the company. Wall Street Zen upgraded Alamo Group from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. Robert W. Baird raised Alamo Group from a "neutral" rating to an "outperform" rating and increased their target price for the company from $209.00 to $260.00 in a report on Monday, August 4th. DA Davidson reissued a "neutral" rating and set a $225.00 target price on shares of Alamo Group in a report on Tuesday, July 22nd. Finally, Baird R W raised Alamo Group from a "hold" rating to a "strong-buy" rating in a report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Alamo Group has a consensus rating of "Buy" and an average target price of $234.00.

Alamo Group Stock Performance

Shares of ALG traded up $3.36 during mid-day trading on Wednesday, reaching $191.17. The company had a trading volume of 9,159 shares, compared to its average volume of 106,463. The stock has a market capitalization of $2.32 billion, a P/E ratio of 19.48, a PEG ratio of 0.99 and a beta of 1.08. The stock has a 50 day moving average of $209.75 and a two-hundred day moving average of $201.25. The company has a quick ratio of 2.76, a current ratio of 4.56 and a debt-to-equity ratio of 0.18. Alamo Group has a 52-week low of $157.07 and a 52-week high of $233.29.

Alamo Group (NYSE:ALG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.57 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.69 by ($0.12). The business had revenue of $419.07 million for the quarter, compared to analysts' expectations of $406.75 million. Alamo Group had a return on equity of 11.45% and a net margin of 7.41%. On average, analysts expect that Alamo Group will post 9.53 earnings per share for the current year.

Insider Buying and Selling at Alamo Group

In other Alamo Group news, CEO Jeffery Allen Leonard sold 2,500 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $222.19, for a total transaction of $555,475.00. Following the completion of the sale, the chief executive officer directly owned 38,413 shares of the company's stock, valued at approximately $8,534,984.47. This trade represents a 6.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.18% of the company's stock.

Institutional Investors Weigh In On Alamo Group

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Alamo Group by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 768,973 shares of the industrial products company's stock valued at $137,039,000 after buying an additional 47,819 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Alamo Group by 4.0% during the 1st 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. lifted its stake in shares of Alamo Group by 12.9% during the 1st 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 during the period. Westwood Holdings Group Inc. lifted its stake in shares of Alamo Group by 22.9% during the 1st quarter. Westwood Holdings Group Inc. now owns 400,860 shares of the industrial products company's stock worth $71,437,000 after purchasing an additional 74,679 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of Alamo Group by 28.6% in the 2nd quarter. First Trust Advisors LP now owns 384,190 shares of the industrial products company's stock worth $83,899,000 after purchasing an additional 85,478 shares during the period. Institutional investors and hedge funds own 92.36% of the company's stock.

About Alamo Group

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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