Zacks Research upgraded shares of Alto Ingredients (NASDAQ:ALTO – Free Report) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday,Zacks.com reports.
Other research analysts have also recently issued reports about the company. Wall Street Zen raised Alto Ingredients from a “buy” rating to a “strong-buy” rating in a research note on Monday, March 23rd. Weiss Ratings raised Alto Ingredients from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 4th. Finally, HC Wainwright boosted their target price on Alto Ingredients from $5.50 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $10.00.
Read Our Latest Stock Report on Alto Ingredients
Alto Ingredients Trading Down 2.5%
Alto Ingredients (NASDAQ:ALTO – Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.13. Alto Ingredients had a return on equity of 9.77% and a net margin of 3.20%.The firm had revenue of $224.68 million during the quarter, compared to analysts’ expectations of $215.65 million. Sell-side analysts expect that Alto Ingredients will post 0.54 earnings per share for the current fiscal year.
Insider Transactions at Alto Ingredients
In other Alto Ingredients news, Director Gilbert E. Nathan purchased 20,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was bought at an average cost of $4.61 per share, with a total value of $92,200.00. Following the acquisition, the director directly owned 769,741 shares of the company’s stock, valued at approximately $3,548,506.01. This represents a 2.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.26% of the stock is owned by company insiders.
Institutional Trading of Alto Ingredients
A number of institutional investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership lifted its holdings in Alto Ingredients by 67.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,790,263 shares of the company’s stock worth $8,665,000 after buying an additional 723,996 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Alto Ingredients by 9.8% during the 1st quarter. Renaissance Technologies LLC now owns 1,673,657 shares of the company’s stock worth $8,100,000 after buying an additional 149,657 shares during the last quarter. Peapod Lane Capital LLC lifted its holdings in Alto Ingredients by 0.7% during the 4th quarter. Peapod Lane Capital LLC now owns 1,244,198 shares of the company’s stock worth $3,583,000 after buying an additional 9,074 shares during the last quarter. Marshall Wace LLP purchased a new stake in Alto Ingredients during the 4th quarter worth about $3,324,000. Finally, Hillsdale Investment Management Inc. lifted its holdings in Alto Ingredients by 590.1% during the 1st quarter. Hillsdale Investment Management Inc. now owns 1,000,703 shares of the company’s stock worth $4,843,000 after buying an additional 855,703 shares during the last quarter. 42.44% of the stock is owned by hedge funds and other institutional investors.
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.
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