Zacks: Alamo Group, Inc. (ALG) Receives Average Recommendation of “Buy” from Analysts
Shares of Alamo Group, Inc. (NYSE:ALG) have been given a consensus broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company.
Brokerages have set a 1 year consensus price target of $97.00 for the company and are expecting that the company will post $1.25 EPS for the current quarter, according to Zacks. Zacks has also given Alamo Group an industry rank of 178 out of 265 based on the ratings given to its competitors.
Several analysts recently commented on ALG shares. BidaskClub upgraded shares of Alamo Group from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Piper Jaffray Companies set a $104.00 price target on shares of Alamo Group and gave the company a “buy” rating in a report on Friday, August 25th. Finally, Zacks Investment Research downgraded shares of Alamo Group from a “buy” rating to a “hold” rating in a report on Monday, July 10th.
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In other Alamo Group news, Director David W. Grzelak sold 2,201 shares of Alamo Group stock in a transaction on Monday, June 19th. The shares were sold at an average price of $92.18, for a total value of $202,888.18. Following the completion of the transaction, the director now owns 1,325 shares of the company’s stock, valued at $122,138.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Richard Hodges Raborn sold 364 shares of Alamo Group stock in a transaction on Friday, September 1st. The stock was sold at an average price of $92.19, for a total transaction of $33,557.16. Following the completion of the transaction, the executive vice president now directly owns 4,500 shares of the company’s stock, valued at approximately $414,855. The disclosure for this sale can be found here. Insiders own 3.99% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Acrospire Investment Management LLC boosted its holdings in Alamo Group by 150.1% in the second quarter. Acrospire Investment Management LLC now owns 1,173 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 704 shares during the period. Pinebridge Investments L.P. boosted its holdings in Alamo Group by 1.4% in the second quarter. Pinebridge Investments L.P. now owns 1,248 shares of the industrial products company’s stock worth $113,000 after purchasing an additional 17 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in Alamo Group by 10.0% in the first quarter. BNP Paribas Arbitrage SA now owns 1,712 shares of the industrial products company’s stock worth $130,000 after purchasing an additional 156 shares during the period. State of Alaska Department of Revenue boosted its holdings in Alamo Group by 79.3% in the second quarter. State of Alaska Department of Revenue now owns 1,865 shares of the industrial products company’s stock worth $169,000 after purchasing an additional 825 shares during the period. Finally, Mason Street Advisors LLC boosted its holdings in Alamo Group by 7.0% in the first quarter. Mason Street Advisors LLC now owns 2,207 shares of the industrial products company’s stock worth $168,000 after purchasing an additional 144 shares during the period. 90.30% of the stock is owned by hedge funds and other institutional investors.
Shares of Alamo Group (NYSE ALG) traded up 0.74% during midday trading on Thursday, reaching $93.34. 1,740 shares of the company’s stock traded hands. Alamo Group has a 1-year low of $58.30 and a 1-year high of $95.62. The stock has a market capitalization of $1.09 billion, a P/E ratio of 23.99 and a beta of 0.96. The firm’s 50-day moving average price is $91.40 and its 200 day moving average price is $84.90.
Alamo Group (NYSE:ALG) last issued its earnings results on Wednesday, August 2nd. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.05. Alamo Group had a net margin of 5.32% and a return on equity of 11.78%. The business had revenue of $213.28 million during the quarter, compared to analysts’ expectations of $217.90 million. On average, equities analysts predict that Alamo Group will post $4.21 earnings per share for the current fiscal year.
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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