Zacks Investment Research upgraded shares of Alamo Group, Inc. (NYSE:ALG) from a hold rating to a buy rating in a research report report published on Friday morning. They currently have $106.00 target price on the industrial products company’s stock.
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 brokerages have also issued reports on ALG. BidaskClub lowered Alamo Group from a buy rating to a hold rating in a report on Tuesday, August 1st. Piper Jaffray Companies reiterated a buy rating and issued a $90.00 price target on shares of Alamo Group in a report on Friday, July 14th. Finally, ValuEngine upgraded Alamo Group from a hold rating to a buy rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $96.67.
Shares of Alamo Group (NYSE:ALG) opened at 99.99 on Friday. The firm has a 50-day moving average price of $91.61 and a 200 day moving average price of $85.47. The company has a market cap of $1.16 billion, a PE ratio of 25.70 and a beta of 0.96. Alamo Group has a 1-year low of $58.30 and a 1-year high of $100.27.
Alamo Group (NYSE:ALG) last announced its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.05. The business had revenue of $213.28 million for 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%. On average, equities analysts anticipate that Alamo Group will post $4.21 earnings per share for the current year.
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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.
Hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. lifted its holdings in shares of Alamo Group by 8.3% in the first quarter. Ameriprise Financial Inc. now owns 56,465 shares of the industrial products company’s stock valued at $4,302,000 after purchasing an additional 4,340 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of Alamo Group by 4.4% in the first quarter. Great West Life Assurance Co. Can now owns 12,474 shares of the industrial products company’s stock valued at $950,000 after purchasing an additional 523 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Alamo Group by 1,076.3% in the first quarter. BlackRock Inc. now owns 1,275,432 shares of the industrial products company’s stock valued at $97,174,000 after purchasing an additional 1,167,004 shares in the last quarter. Stevens Capital Management LP bought a new position in shares of Alamo Group in the first quarter valued at approximately $207,000. Finally, TIAA CREF Investment Management LLC lifted its holdings in shares of Alamo Group by 30.1% in the first quarter. TIAA CREF Investment Management LLC now owns 52,438 shares of the industrial products company’s stock valued at $3,995,000 after purchasing an additional 12,124 shares in the last quarter. Institutional investors 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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