Alamo Group, Inc. (NYSE:ALG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm currently has a $100.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 10.72% from the stock’s previous close.

According to Zacks, “Alamo Group Inc. is a leading manufacturer of high quality equipment for right-of-way maintenance and agriculture. Their products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, agricultural implements and related after market parts and services. They emphasize high quality, cost efficient products for their customers and strive to develop and market innovative products while constantly monitoring and containing their manufacturing and overhead costs. “

A number of other research firms have also commented on ALG. BidaskClub lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $90.00 target price on shares of Alamo Group in a research report on Friday, July 14th. Finally, Seaport Global Securities upped their target price on shares of Alamo Group from $71.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, May 8th.

Shares of Alamo Group (ALG) traded up 0.86% during midday trading on Tuesday, hitting $90.32. The stock had a trading volume of 26,289 shares. Alamo Group has a 1-year low of $58.30 and a 1-year high of $95.62. The company’s 50 day moving average price is $92.21 and its 200-day moving average price is $83.45. The firm has a market capitalization of $1.05 billion, a PE ratio of 23.22 and a beta of 0.95.

Alamo Group (NYSE:ALG) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $1.05 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.05. The firm had revenue of $213.28 million during the quarter, compared to analyst estimates of $217.90 million. Alamo Group had a net margin of 5.32% and a return on equity of 11.78%. Equities analysts predict that Alamo Group will post $4.21 earnings per share for the current year.

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In other Alamo Group news, Director David W. Grzelak sold 2,201 shares of the stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $92.18, for a total transaction of $202,888.18. Following the completion of the sale, the director now directly owns 1,325 shares of the company’s stock, valued at approximately $122,138.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Dan Edward Malone sold 950 shares of the stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $90.75, for a total transaction of $86,212.50. Following the sale, the vice president now directly owns 11,950 shares of the company’s stock, valued at $1,084,462.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,335 shares of company stock worth $305,830. 3.99% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the stock. First Manhattan Co. raised its position in Alamo Group by 50.6% in the first quarter. First Manhattan Co. now owns 152,240 shares of the industrial products company’s stock valued at $10,031,000 after buying an additional 51,177 shares during the last quarter. Strs Ohio purchased a new position in Alamo Group during the first quarter valued at approximately $251,000. Great West Life Assurance Co. Can raised its position in Alamo Group by 4.4% in the first quarter. Great West Life Assurance Co. Can now owns 12,474 shares of the industrial products company’s stock valued at $950,000 after buying an additional 523 shares during the last quarter. Advisors Asset Management Inc. raised its position in Alamo Group by 25.7% in the first quarter. Advisors Asset Management Inc. now owns 13,289 shares of the industrial products company’s stock valued at $1,012,000 after buying an additional 2,719 shares during the last quarter. Finally, Capital Fund Management S.A. raised its position in Alamo Group by 19.5% in the first quarter. Capital Fund Management S.A. now owns 11,475 shares of the industrial products company’s stock valued at $874,000 after buying an additional 1,875 shares during the last quarter. 87.86% of the stock is owned by institutional investors and hedge funds.

Alamo Group Company Profile

Alamo Group Inc is engaged in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. The Company operates in Industrial, Agricultural and European segments. The Company’s products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket.

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