Alamo Group, Inc. (NYSE:ALG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The firm currently has a $106.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 9.32% from the company’s current price.

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. “

ALG has been the topic of a number of other reports. ValuEngine raised shares of Alamo Group from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Piper Jaffray Companies reissued a “buy” rating and set a $90.00 price objective on shares of Alamo Group in a report on Friday, July 14th. Finally, BidaskClub lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $96.67.

Alamo Group (NYSE:ALG) traded up 2.84% during trading on Friday, hitting $96.96. The stock had a trading volume of 178,085 shares. Alamo Group has a 12 month low of $58.30 and a 12 month high of $96.97. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 24.93 and a beta of 0.96. The firm has a 50 day moving average of $91.32 and a 200-day moving average of $85.03.

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, meeting analysts’ consensus estimates of $1.05. The firm had revenue of $213.28 million for the quarter, compared to analyst estimates of $217.90 million. Alamo Group had a net margin of 5.77% and a return on equity of 11.96%. Equities analysts predict that Alamo Group will post $4.21 earnings per share for the current year.

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In other news, EVP Richard Hodges Raborn sold 364 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $92.19, for a total transaction of $33,557.16. Following the sale, the executive vice president now directly owns 4,500 shares of the company’s stock, valued at $414,855. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David W. Grzelak sold 2,201 shares of the business’s stock in a transaction 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 sale, the director now directly owns 1,325 shares in the company, valued at $122,138.50. The disclosure for this sale can be found here. 3.99% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. lifted its position in Alamo Group by 8.3% during the first quarter. Ameriprise Financial Inc. now owns 56,465 shares of the industrial products company’s stock valued at $4,302,000 after purchasing an additional 4,340 shares during the period. Great West Life Assurance Co. Can lifted its position in Alamo Group by 4.4% during 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 purchasing an additional 523 shares during the period. BlackRock Inc. lifted its position in Alamo Group by 1,076.3% during the first quarter. BlackRock Inc. now owns 1,275,432 shares of the industrial products company’s stock valued at $97,174,000 after purchasing an additional 1,167,004 shares during the period. Stevens Capital Management LP acquired a new position in Alamo Group during the first quarter valued at $207,000. Finally, TIAA CREF Investment Management LLC lifted its position in Alamo Group by 30.1% during the first quarter. TIAA CREF Investment Management LLC now owns 52,438 shares of the industrial products company’s stock valued at $3,995,000 after purchasing an additional 12,124 shares during the period. 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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