Alamo Group, Inc. (NYSE:ALG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.

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. “

Several other brokerages also recently commented on ALG. Piper Jaffray Companies reiterated a “buy” rating and set a $90.00 price target on shares of Alamo Group in a report on Friday, July 14th. BidaskClub downgraded shares of Alamo Group from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Finally, ValuEngine upgraded shares of Alamo Group from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $95.67.

Alamo Group (NYSE ALG) traded down 0.34% on Thursday, reaching $90.68. The company had a trading volume of 52,407 shares. The stock’s 50 day moving average price is $91.54 and its 200-day moving average price is $84.49. Alamo Group has a 12-month low of $58.30 and a 12-month high of $95.62. The stock has a market capitalization of $1.05 billion, a PE ratio of 23.31 and a beta of 0.96.

Alamo Group (NYSE:ALG) last issued its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $1.05 EPS for the quarter, meeting the consensus estimate of $1.05. The company had revenue of $213.28 million for the quarter, compared to the consensus estimate of $217.90 million. Alamo Group had a net margin of 5.32% and a return on equity of 11.78%. Equities analysts expect that Alamo Group will post $4.21 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Alamo Group, Inc. (ALG) Downgraded by Zacks Investment Research to “Hold”” was originally reported by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another website, it was copied illegally and republished in violation of U.S. & international copyright and trademark law. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/09/07/alamo-group-inc-alg-downgraded-by-zacks-investment-research-to-hold-2.html.

In other Alamo Group news, EVP Richard Hodges Raborn sold 364 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $92.19, for a total value of $33,557.16. Following the transaction, the executive vice president now directly owns 4,500 shares in the company, valued at approximately $414,855. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Dan Edward Malone sold 950 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $90.75, for a total transaction of $86,212.50. Following the completion of the transaction, the vice president now owns 11,950 shares in the company, valued at $1,084,462.50. The disclosure for this sale can be found here. Insiders sold a total of 3,699 shares of company stock worth $339,387 over the last 90 days. Insiders own 3.99% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Acrospire Investment Management LLC grew its stake in Alamo Group by 150.1% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,173 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 704 shares in the last quarter. Pinebridge Investments L.P. boosted its stake in shares of Alamo Group by 1.4% during the second quarter. Pinebridge Investments L.P. now owns 1,248 shares of the industrial products company’s stock valued at $113,000 after purchasing an additional 17 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Alamo Group by 10.0% during the first quarter. BNP Paribas Arbitrage SA now owns 1,712 shares of the industrial products company’s stock valued at $130,000 after purchasing an additional 156 shares in the last quarter. Mason Street Advisors LLC boosted its stake in shares of Alamo Group by 7.0% during the first quarter. Mason Street Advisors LLC now owns 2,207 shares of the industrial products company’s stock valued at $168,000 after purchasing an additional 144 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of Alamo Group by 79.3% during the second quarter. State of Alaska Department of Revenue now owns 1,865 shares of the industrial products company’s stock valued at $169,000 after purchasing an additional 825 shares in the last quarter. Institutional investors and hedge funds own 90.30% of the company’s stock.

About Alamo Group

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.

Get a free copy of the Zacks research report on Alamo Group (ALG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Alamo Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alamo Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.