Alto Ingredients (NASDAQ:ALTO) Posts Earnings Results, Beats Expectations By $0.01 EPS

Posted by Chris Copeland on May 8th, 2024

Alto Ingredients (NASDAQ:ALTO – Get Free Report) issued its quarterly earnings data on Monday. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01, Zacks reports. The firm had revenue of $240.63 million during the quarter, compared to analysts’ expectations of $199.56 million. Alto Ingredients had a negative return on equity of 7.32% and a negative net margin of 2.29%. During the same period in the prior year, the business posted ($0.17) EPS.

Alto Ingredients Price Performance

ALTO traded down $0.05 during trading on Wednesday, hitting $1.71. The company’s stock had a trading volume of 675,578 shares, compared to its average volume of 636,376. The company has a current ratio of 2.59, a quick ratio of 1.78 and a debt-to-equity ratio of 0.29. Alto Ingredients has a twelve month low of $1.53 and a twelve month high of $4.98. The business’s fifty day simple moving average is $2.04 and its 200 day simple moving average is $2.37. The firm has a market capitalization of $129.45 million, a price-to-earnings ratio of -4.51 and a beta of 1.92.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and issued a $5.50 price target on shares of Alto Ingredients in a research note on Tuesday.

Get Our Latest Stock Analysis on ALTO

Alto Ingredients Company Profile

(Get Free Report)

Alto Ingredients, Inc produces, distributes, and markets specialty alcohols, renewable fuel, and essential ingredients in the United States. The company operates in three segments: Marketing and Distribution, Pekin Campus Production, and Western Production. It offers specialty alcohols used in mouthwash, cosmetics, pharmaceuticals, hand sanitizers, disinfectants, and cleaners for health, home, and beauty markets; grain neutral spirits used in alcoholic beverages and vinegar, as well as corn germ used in corn oils in the food and beverage markets; alcohols and other products for paint applications and fertilizers in the industrial and agriculture markets; and essential ingredients include dried yeast, corn protein meal, corn protein feed, distiller's grains, and liquid feed for commercial animal feed and pet food applications, as well as yeast for human consumption.