Alamo Group (NYSE:ALG) Rating Lowered to Hold at Wall Street Zen

Alamo Group (NYSE:ALG) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Other research analysts have also recently issued research reports about the company. Robert W. Baird upgraded Alamo Group from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $209.00 to $260.00 in a research report on Monday, August 4th. Weiss Ratings restated a “buy (b-)” rating on shares of Alamo Group in a research note on Wednesday, October 8th. DA Davidson reaffirmed a “neutral” rating and set a $225.00 price target on shares of Alamo Group in a report on Tuesday, July 22nd. Finally, Baird R W raised shares of Alamo Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 4th. One 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’s stock. Based on data from MarketBeat, Alamo Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.00.

Alamo Group Stock Performance

Shares of NYSE:ALG opened at $166.60 on Friday. Alamo Group has a 1 year low of $157.07 and a 1 year high of $233.29. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 0.94 and a beta of 1.13. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.56 and a quick ratio of 2.76. The company’s 50 day simple moving average is $191.62 and its 200 day simple moving average is $203.16.

Alamo Group (NYSE:ALG) last issued its earnings results on Thursday, November 6th. The industrial products company reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.61 by ($0.27). Alamo Group had a net margin of 7.41% and a return on equity of 11.45%. The business had revenue of $420.04 million during the quarter, compared to analyst estimates of $407.55 million. As a group, research analysts predict that Alamo Group will post 9.53 EPS for the current fiscal year.

Insider Activity

In other news, CEO Jeffery Allen Leonard sold 2,500 shares of Alamo Group stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $222.19, for a total transaction of $555,475.00. Following the transaction, the chief executive officer owned 38,413 shares in the company, valued at approximately $8,534,984.47. The trade was a 6.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.18% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. King Luther Capital Management Corp grew its position in shares of Alamo Group by 0.7% in the 3rd quarter. King Luther Capital Management Corp now owns 44,327 shares of the industrial products company’s stock valued at $8,462,000 after buying an additional 310 shares during the last quarter. First National Bank of Omaha bought a new position in shares of Alamo Group during the third quarter worth about $606,000. Vanguard Group Inc. lifted its stake in shares of Alamo Group by 1.2% in the third quarter. Vanguard Group Inc. now owns 785,735 shares of the industrial products company’s stock worth $149,997,000 after acquiring an additional 9,571 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Alamo Group by 4.6% in the third quarter. PNC Financial Services Group Inc. now owns 1,649 shares of the industrial products company’s stock valued at $315,000 after acquiring an additional 73 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its position in Alamo Group by 18.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 42,083 shares of the industrial products company’s stock valued at $8,034,000 after purchasing an additional 6,675 shares during the period. 92.36% of the stock is owned by institutional investors.

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.