Zacks Investment Research Downgrades Alamo Group, Inc. (ALG) to Sell
Alamo Group, Inc. (NYSE:ALG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
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 equities analysts have also recently weighed in on ALG. ValuEngine cut Alamo Group from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. BidaskClub cut Alamo Group from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Finally, Piper Jaffray Companies set a $104.00 target price on Alamo Group and gave the company a “buy” rating in a research note on Sunday, October 1st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $99.33.
Alamo Group (NYSE ALG) traded up 0.55% during trading on Tuesday, hitting $107.42. 38,747 shares of the company were exchanged. Alamo Group has a 12 month low of $58.30 and a 12 month high of $111.02. The company has a 50-day moving average of $102.73 and a 200-day moving average of $91.20. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 27.61 and a beta of 0.95.
Alamo Group (NYSE:ALG) last posted its earnings results on Wednesday, August 2nd. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.05. The company had revenue of $213.28 million during the quarter, compared to analyst estimates of $217.90 million. Alamo Group had a return on equity of 11.78% and a net margin of 5.32%. Analysts forecast that Alamo Group will post $4.20 EPS for the current year.
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In other Alamo Group news, EVP Richard Hodges Raborn sold 364 shares of the company’s stock in a transaction 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 directly owns 4,500 shares of the company’s stock, valued at approximately $414,855. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Geoff Davies sold 4,000 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $98.16, for a total value of $392,640.00. Following the completion of the transaction, the vice president now directly owns 3,800 shares in the company, valued at $373,008. The disclosure for this sale can be found here. 3.99% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. USA Financial Portformulas Corp acquired a new stake in shares of Alamo Group during the 2nd quarter worth $317,000. Westwood Holdings Group Inc. grew its holdings 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 worth $9,525,000 after purchasing an additional 14,420 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Alamo Group during the 2nd quarter worth $285,000. State Street Corp grew its holdings 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 worth $20,447,000 after purchasing an additional 12,110 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings 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 worth $2,755,000 after purchasing an additional 9,536 shares in the last quarter. 90.27% of the stock is currently owned by institutional investors.
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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