Alamo Group (NYSE:ALG) Rating Lowered to Hold at StockNews.com

Alamo Group (NYSE:ALG) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Separately, DA Davidson upped their price target on Alamo Group from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th.

Alamo Group Trading Down 2.9 %

NYSE:ALG opened at $206.61 on Tuesday. Alamo Group has a twelve month low of $157.74 and a twelve month high of $231.40. The company has a quick ratio of 1.99, a current ratio of 3.76 and a debt-to-equity ratio of 0.24. The business has a 50 day moving average price of $212.30 and a two-hundred day moving average price of $198.23. The company has a market cap of $2.49 billion, a P/E ratio of 18.19 and a beta of 1.04.

Alamo Group (NYSE:ALG) last released its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.22). Alamo Group had a return on equity of 15.52% and a net margin of 8.06%. The firm had revenue of $417.54 million for the quarter. As a group, analysts expect that Alamo Group will post 13.17 EPS for the current fiscal year.

Insider Activity

In other news, EVP Michael A. Haberman sold 418 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $223.87, for a total value of $93,577.66. Following the completion of the sale, the executive vice president now owns 19,206 shares of the company’s stock, valued at approximately $4,299,647.22. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alamo Group

Several hedge funds have recently added to or reduced their stakes in ALG. Contravisory Investment Management Inc. lifted its holdings in Alamo Group by 73.4% during the 1st quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 47 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Alamo Group by 33.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 271 shares of the industrial products company’s stock worth $50,000 after buying an additional 68 shares during the period. NewEdge Advisors LLC increased its position in Alamo Group by 5,380.0% during the 1st quarter. NewEdge Advisors LLC now owns 274 shares of the industrial products company’s stock worth $50,000 after buying an additional 269 shares during the period. Quest Partners LLC bought a new position in Alamo Group during the 4th quarter worth $52,000. Finally, FMR LLC increased its position in Alamo Group by 17.4% during the 2nd quarter. FMR LLC now owns 701 shares of the industrial products company’s stock worth $81,000 after buying an additional 104 shares during the period. Institutional investors and hedge funds own 92.36% of the company’s stock.

About Alamo Group

Alamo Group Inc designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. It operates through two segments, Vegetation Management and Industrial Equipment. Its Vegetation Management Division segment offers hydraulically-powered and tractor – and off-road chassis mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.