Alamo Group, Inc. (NYSE:ALG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm presently has a $100.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.02% from the company’s current price.

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. “

A number of other brokerages have also commented on ALG. BidaskClub lowered Alamo Group from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Piper Jaffray Companies set a $104.00 price objective on Alamo Group and gave the stock a “buy” rating in a research report on Friday. Finally, Seaport Global Securities lifted their price objective on Alamo Group from $71.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, May 8th.

Shares of Alamo Group (NYSE:ALG) traded up 0.19% during mid-day trading on Tuesday, hitting $89.27. 31,665 shares of the stock traded hands. Alamo Group has a 12-month low of $58.30 and a 12-month high of $95.62. The stock has a market cap of $1.04 billion, a P/E ratio of 22.95 and a beta of 0.95. The firm’s 50 day moving average price is $91.92 and its 200-day moving average price is $83.71.

Alamo Group (NYSE:ALG) last announced its earnings results on Wednesday, August 2nd. The industrial products company reported $1.05 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.05. Alamo Group had a return on equity of 11.78% and a net margin of 5.32%. The company had revenue of $213.28 million during the quarter, compared to analyst estimates of $217.90 million. Analysts predict that Alamo Group will post $4.21 earnings per share for the current year.

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In other news, Director David W. Grzelak sold 2,201 shares of the business’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $92.18, for a total transaction of $202,888.18. Following the completion of the transaction, the director now directly owns 1,325 shares in the company, valued at approximately $122,138.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Dan Edward Malone sold 950 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $90.75, for a total value of $86,212.50. Following the transaction, the vice president now owns 11,950 shares of the company’s stock, valued at $1,084,462.50. The disclosure for this sale can be found here. Insiders have sold a total of 3,335 shares of company stock valued at $305,830 over the last 90 days. Corporate insiders own 3.99% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Acrospire Investment Management LLC raised its position in Alamo Group by 150.1% in the second quarter. Acrospire Investment Management LLC now owns 1,173 shares of the industrial products company’s stock valued at $107,000 after buying an additional 704 shares during the last quarter. Pinebridge Investments L.P. raised its position in Alamo Group by 1.4% in the second quarter. Pinebridge Investments L.P. now owns 1,248 shares of the industrial products company’s stock valued at $113,000 after buying an additional 17 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Alamo Group by 10.0% in the first quarter. BNP Paribas Arbitrage SA now owns 1,712 shares of the industrial products company’s stock valued at $130,000 after buying an additional 156 shares during the last quarter. Mason Street Advisors LLC raised its position in Alamo Group by 7.0% in the first quarter. Mason Street Advisors LLC now owns 2,207 shares of the industrial products company’s stock valued at $168,000 after buying an additional 144 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in Alamo Group by 79.3% in the second quarter. State of Alaska Department of Revenue now owns 1,865 shares of the industrial products company’s stock valued at $169,000 after buying an additional 825 shares during the last quarter. Institutional investors own 90.27% of the company’s stock.

About Alamo Group

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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