Alamo Group (NYSE:ALG) Downgraded by StockNews.com to Hold

Alamo Group (NYSE:ALG) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

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

Alamo Group Stock Down 0.4 %

Shares of NYSE ALG traded down $0.72 during mid-day trading on Monday, hitting $193.25. 94,371 shares of the stock traded hands, compared to its average volume of 72,634. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.49 and a current ratio of 4.29. Alamo Group has a 52 week low of $157.74 and a 52 week high of $231.40. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 17.19 and a beta of 1.07. The stock has a fifty day moving average price of $208.22 and a 200-day moving average price of $200.81.

Alamo Group (NYSE:ALG) last released its quarterly earnings results on Friday, May 3rd. The industrial products company reported $2.67 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.01. Alamo Group had a return on equity of 14.82% and a net margin of 7.92%. The company had revenue of $425.59 million for the quarter. During the same quarter in the prior year, the firm earned $2.79 earnings per share. Research analysts anticipate that Alamo Group will post 13.17 EPS for the current year.

Insider Buying and Selling at Alamo Group

In other news, EVP Michael A. Haberman sold 418 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 19,206 shares of the company’s stock, valued at $4,299,647.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alamo Group

Hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC boosted its stake in Alamo Group by 1.7% during the third quarter. Commonwealth Equity Services LLC now owns 10,765 shares of the industrial products company’s stock valued at $1,861,000 after buying an additional 184 shares during the last quarter. Strs Ohio boosted its stake in Alamo Group by 12.9% during the third quarter. Strs Ohio now owns 46,400 shares of the industrial products company’s stock valued at $8,020,000 after buying an additional 5,300 shares during the last quarter. TIAA Trust National Association bought a new position in Alamo Group during the third quarter valued at approximately $257,000. Allspring Global Investments Holdings LLC boosted its stake in Alamo Group by 6.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 279,554 shares of the industrial products company’s stock valued at $48,324,000 after buying an additional 17,646 shares during the last quarter. Finally, Cambiar Investors LLC boosted its stake in Alamo Group by 3.8% during the third quarter. Cambiar Investors LLC now owns 13,494 shares of the industrial products company’s stock valued at $2,333,000 after buying an additional 500 shares during the last quarter. Institutional investors 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.