Alamo Group, Inc. (ALG) Downgraded by Zacks Investment Research to “Hold”
Alamo Group, Inc. (NYSE:ALG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note 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. “
A number of other research firms have also commented on ALG. BidaskClub lowered Alamo Group from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Piper Jaffray Companies reiterated a “buy” rating and issued a $90.00 price target on shares of Alamo Group in a research report on Friday, July 14th. Finally, ValuEngine upgraded Alamo Group from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $95.67.
Shares of Alamo Group (ALG) traded up 1.79% during trading on Thursday, reaching $94.31. The company’s stock had a trading volume of 56,760 shares. The company’s 50 day moving average price is $91.40 and its 200 day moving average price is $84.90. Alamo Group has a 12 month low of $58.30 and a 12 month high of $95.62. The firm has a market cap of $1.10 billion, a PE ratio of 24.24 and a beta of 0.96.
Alamo Group (NYSE:ALG) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $1.05 EPS for the quarter, meeting analysts’ consensus estimates of $1.05. Alamo Group had a return on equity of 11.78% and a net margin of 5.32%. The firm had revenue of $213.28 million for the quarter, compared to analyst estimates of $217.90 million. On average, equities analysts predict that Alamo Group will post $4.21 earnings per share for the current year.
In other Alamo Group news, Director David W. Grzelak sold 2,201 shares of the company’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $92.18, for a total value of $202,888.18. Following the sale, the director now owns 1,325 shares in the company, valued at approximately $122,138.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 completion of the sale, the executive vice president now owns 4,500 shares in the company, valued at approximately $414,855. The disclosure for this sale can be found here. Insiders own 3.99% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. USA Financial Portformulas Corp bought a new stake in shares of Alamo Group in the 2nd quarter valued at about $317,000. Westwood Holdings Group Inc. boosted its position in shares of Alamo Group by 15.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 104,891 shares of the industrial products company’s stock valued at $9,525,000 after purchasing an additional 14,420 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Alamo Group during the 2nd quarter valued at about $285,000. State Street Corp boosted its position in shares of Alamo Group by 5.7% during the 2nd quarter. State Street Corp now owns 225,191 shares of the industrial products company’s stock valued at $20,447,000 after purchasing an additional 12,110 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Alamo Group by 45.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 30,339 shares of the industrial products company’s stock valued at $2,755,000 after purchasing an additional 9,536 shares in the last quarter. Hedge funds and other institutional investors 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.
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