Analysts Set Alamo Group, Inc. (NYSE:ALG) Target Price at $224.00

Alamo Group, Inc. (NYSE:ALG) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $224.00.

A number of research firms recently issued reports on ALG. Zacks Research upgraded Alamo Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. Weiss Ratings lowered Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. DA Davidson reiterated a “neutral” rating and issued a $188.00 target price on shares of Alamo Group in a research note on Wednesday. Finally, William Blair assumed coverage on shares of Alamo Group in a report on Monday, March 16th. They set an “outperform” rating for the company.

Alamo Group Price Performance

ALG opened at $170.35 on Friday. The company has a quick ratio of 2.45, a current ratio of 4.32 and a debt-to-equity ratio of 0.23. The company’s 50-day moving average price is $158.58 and its 200 day moving average price is $174.95. Alamo Group has a fifty-two week low of $145.76 and a fifty-two week high of $233.29. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 0.98 and a beta of 1.09.

Alamo Group (NYSE:ALG) last issued its earnings results on Monday, May 4th. The industrial products company reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.36. The company had revenue of $417.15 million during the quarter, compared to the consensus estimate of $398.02 million. Alamo Group had a return on equity of 9.71% and a net margin of 6.21%. As a group, sell-side analysts expect that Alamo Group will post 10.65 earnings per share for the current year.

Alamo Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Thursday, July 16th will be given a $0.34 dividend. The ex-dividend date is Thursday, July 16th. This represents a $1.36 annualized dividend and a yield of 0.8%. Alamo Group’s dividend payout ratio is 16.27%.

Institutional Investors Weigh In On Alamo Group

Hedge funds have recently made changes to their positions in the business. Global Retirement Partners LLC grew its position in Alamo Group by 136.2% in the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the industrial products company’s stock worth $52,000 after buying an additional 177 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Alamo Group by 3,140.0% during the first quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 314 shares during the period. MAI Capital Management acquired a new stake in shares of Alamo Group during the third quarter worth $73,000. Kestra Advisory Services LLC purchased a new stake in shares of Alamo Group during the fourth quarter valued at $76,000. Finally, State of Wyoming lifted its holdings in shares of Alamo Group by 76.5% during the fourth quarter. State of Wyoming now owns 473 shares of the industrial products company’s stock valued at $79,000 after purchasing an additional 205 shares during the last quarter. Institutional investors own 92.36% of the company’s stock.

Alamo Group Company Profile

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.