Alto Ingredients (NASDAQ:ALTO – Get Free Report) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.
ALTO has been the subject of a number of other reports. Wall Street Zen upgraded Alto Ingredients from a “buy” rating to a “strong-buy” rating in a research note 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, May 4th. Finally, HC Wainwright upped their price target on shares of Alto Ingredients from $5.50 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Alto Ingredients presently has an average rating of “Hold” and an average price target of $10.00.
Read Our Latest Analysis on Alto Ingredients
Alto Ingredients Stock Performance
Alto Ingredients (NASDAQ:ALTO – Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.13. The company had revenue of $224.68 million during the quarter, compared to analyst estimates of $215.65 million. Alto Ingredients had a return on equity of 9.77% and a net margin of 3.20%. As a group, sell-side analysts forecast that Alto Ingredients will post 0.54 earnings per share for the current year.
Insiders Place Their Bets
In other Alto Ingredients news, Director Gilbert E. Nathan purchased 20,000 shares of Alto Ingredients stock in a transaction on Tuesday, May 12th. The stock was bought at an average price of $4.61 per share, for a total transaction of $92,200.00. Following the transaction, the director owned 769,741 shares of the company’s stock, valued at $3,548,506.01. The trade was a 2.67% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 4.28% of the stock is owned by insiders.
Institutional Investors Weigh In On Alto Ingredients
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Peapod Lane Capital LLC grew its position in Alto Ingredients by 0.7% in the 4th quarter. Peapod Lane Capital LLC now owns 1,244,198 shares of the company’s stock valued at $3,583,000 after buying an additional 9,074 shares in the last quarter. Corsair Capital Management L.P. raised its position in shares of Alto Ingredients by 4.0% during the 1st quarter. Corsair Capital Management L.P. now owns 260,200 shares of the company’s stock worth $1,259,000 after buying an additional 10,000 shares in the last quarter. Hsbc Holdings PLC lifted its stake in shares of Alto Ingredients by 36.8% in the 1st quarter. Hsbc Holdings PLC now owns 37,471 shares of the company’s stock worth $183,000 after acquiring an additional 10,070 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Alto Ingredients in the first quarter valued at approximately $49,000. Finally, Vontobel Holding Ltd. bought a new position in shares of Alto Ingredients in the fourth quarter valued at approximately $33,000. 42.44% of the stock is currently owned by institutional investors.
About Alto Ingredients
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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