Brokerages Set $97.00 Target Price for Alamo Group, Inc. (ALG)
Alamo Group, Inc. (NYSE:ALG) has been assigned an average broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company.
Analysts have set a one year consensus price target of $97.00 for the company and are predicting that the company will post $1.25 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Alamo Group an industry rank of 100 out of 265 based on the ratings given to its competitors.
Several equities research analysts recently commented on ALG shares. Piper Jaffray Companies reaffirmed a “buy” rating and set a $90.00 target price on shares of Alamo Group in a research note on Friday, July 14th. Zacks Investment Research upgraded Alamo Group from a “hold” rating to a “buy” rating and set a $104.00 price target on the stock in a report on Tuesday, August 8th. Finally, BidaskClub lowered Alamo Group from a “buy” rating to a “hold” rating in a report on Friday, June 23rd.
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Alamo Group (NYSE ALG) traded up 0.79% during midday trading on Tuesday, reaching $100.78. 54,942 shares of the company were exchanged. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 25.91 and a beta of 0.96. The firm’s 50-day moving average price is $91.61 and its 200 day moving average price is $85.47. Alamo Group has a 52-week low of $58.30 and a 52-week high of $101.40.
Alamo Group (NYSE:ALG) last issued its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $1.05 earnings per share for the quarter, meeting the consensus estimate of $1.05. The company had revenue of $213.28 million during the quarter, compared to analysts’ expectations of $217.90 million. Alamo Group had a return on equity of 11.78% and a net margin of 5.32%. Equities analysts predict that Alamo Group will post $4.21 earnings per share for the current year.
In other news, EVP Richard Hodges Raborn sold 364 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $92.19, for a total value of $33,557.16. Following the transaction, the executive vice president now owns 4,500 shares in the company, valued at $414,855. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.99% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of ALG. Acrospire Investment Management LLC lifted its holdings in Alamo Group by 150.1% during the second 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 during the period. Pinebridge Investments L.P. lifted its holdings in 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 worth $113,000 after acquiring an additional 17 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in 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 worth $130,000 after acquiring an additional 156 shares during the period. Mason Street Advisors LLC lifted its holdings in 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 worth $168,000 after acquiring an additional 144 shares during the period. Finally, State of Alaska Department of Revenue lifted its holdings in 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 worth $169,000 after acquiring an additional 825 shares during the period. Institutional investors and hedge funds own 90.30% of the company’s stock.
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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