Alamo Group, Inc. (NYSE:ALG) Stock Has Consensus Price Target of $188.00 According to Brokerages

Alamo Group, Inc. (NYSE:ALG) has earned an average recommendation of “Moderate Buy” from the five research firms that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $188.00.

ALG has been the subject of a number of recent analyst reports. Weiss Ratings downgraded Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, October 2nd. DA Davidson restated a “neutral” rating and set a $188.00 target price on shares of Alamo Group in a research report on Wednesday, July 1st.

Alamo Group Stock Up 0.6%

Shares of ALG opened at $153.38 on Tuesday. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 18.39, a P/E/G ratio of 0.91 and a beta of 1.08. The company has a quick ratio of 2.48, a current ratio of 4.39 and a debt-to-equity ratio of 0.22. Alamo Group has a 12 month low of $145.76 and a 12 month high of $219.88. The company has a 50-day moving average price of $164.42 and a two-hundred day moving average price of $163.06.

Alamo Group (NYSE:ALG) last released its quarterly earnings data on Monday, August 3rd. The industrial products company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.74 by $0.08. The company had revenue of $450.73 million for the quarter, compared to analyst estimates of $437.48 million. Alamo Group had a return on equity of 9.83% and a net margin of 6.08%. Equities analysts predict that Alamo Group will post 10.52 EPS for the current fiscal year.

Alamo Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Thursday, October 15th will be issued a dividend of $0.34 per share. The ex-dividend date is Thursday, October 15th. This represents a $1.36 annualized dividend and a yield of 0.9%. Alamo Group’s payout ratio is currently 16.31%.

Insider Activity

In related news, EVP Edward Rizzuti sold 2,537 shares of the firm’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $174.68, for a total transaction of $443,163.16. Following the sale, the executive vice president directly owned 5,605 shares in the company, valued at $979,081.40. This trade represents a 31.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its position in Alamo Group by 6.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,633 shares of the industrial products company’s stock valued at $269,000 after purchasing an additional 101 shares during the period. GAMMA Investing LLC raised its holdings in Alamo Group by 183.3% during the third quarter. GAMMA Investing LLC now owns 170 shares of the industrial products company’s stock worth $26,000 after buying an additional 110 shares during the last quarter. NewEdge Advisors LLC acquired a new position in Alamo Group during the second quarter worth $25,000. Integrated Wealth Concepts LLC acquired a new position in Alamo Group during the second quarter worth $25,000. Finally, Global Retirement Partners LLC bought a new position in Alamo Group in the 2nd quarter valued at about $35,000. Institutional investors own 92.36% of the company’s stock.

About Alamo Group

Alamo Group Inc (NYSE: ALG) is an industrial equipment manufacturer that designs, produces and services equipment used in vegetation management, infrastructure maintenance and agricultural applications. The company serves municipalities, government agencies, contractors, utility companies, agricultural operators and other commercial customers.

Its product portfolio includes mowing and brush-cutting equipment, roadside and right-of-way maintenance machinery, tree-care equipment, excavators, street sweepers, snow-removal equipment and agricultural implements.