Alamo Group, Inc. (ALG) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Alamo Group, Inc. (NYSE:ALG) from a sell rating to a strong-buy rating in a report issued on Tuesday morning. Zacks Investment Research currently has $131.00 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. “
A number of other equities analysts also recently issued reports on ALG. Piper Jaffray Companies reissued a buy rating and issued a $90.00 price objective on shares of Alamo Group in a report on Friday, July 14th. BidaskClub downgraded shares of Alamo Group from a buy rating to a hold rating in a report on Tuesday, August 1st. Finally, ValuEngine raised shares of Alamo Group from a hold rating to a buy rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Alamo Group has a consensus rating of Hold and an average target price of $105.00.
Shares of Alamo Group (ALG) opened at $112.08 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.85 and a current ratio of 4.48. The stock has a market cap of $1,299.69, a PE ratio of 25.92 and a beta of 0.94. Alamo Group has a 1-year low of $69.23 and a 1-year high of $114.57.
Alamo Group (NYSE:ALG) last announced its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.16. The firm had revenue of $240.46 million for the quarter, compared to the consensus estimate of $223.40 million. Alamo Group had a net margin of 5.56% and a return on equity of 12.11%. sell-side analysts forecast that Alamo Group will post 4.34 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Monday, October 16th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.36%. The ex-dividend date was Friday, October 13th. Alamo Group’s payout ratio is currently 9.59%.
In other news, VP Geoff Davies sold 4,000 shares of Alamo Group stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $98.16, for a total transaction of $392,640.00. Following the sale, the vice president now owns 3,800 shares in the company, valued at $373,008. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Richard Hodges Raborn sold 2,000 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $111.53, for a total transaction of $223,060.00. Following the completion of the sale, the executive vice president now owns 4,500 shares in the company, valued at approximately $501,885. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,364 shares of company stock worth $649,257. Company insiders own 3.99% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in ALG. BlackRock Inc. increased its position in 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 worth $97,174,000 after purchasing an additional 1,167,004 shares during the last quarter. American Century Companies Inc. increased its position in Alamo Group by 226.2% in the third quarter. American Century Companies Inc. now owns 73,931 shares of the industrial products company’s stock worth $7,938,000 after purchasing an additional 51,270 shares during the last quarter. Vanguard Group Inc. increased its position in Alamo Group by 9.0% in the first quarter. Vanguard Group Inc. now owns 496,485 shares of the industrial products company’s stock worth $37,828,000 after purchasing an additional 41,187 shares during the last quarter. Ameriprise Financial Inc. increased its position in Alamo Group by 69.9% in the second quarter. Ameriprise Financial Inc. now owns 95,920 shares of the industrial products company’s stock worth $8,711,000 after purchasing an additional 39,455 shares during the last quarter. Finally, Prudential Financial Inc. increased its position in Alamo Group by 80.9% in the second quarter. Prudential Financial Inc. now owns 62,659 shares of the industrial products company’s stock worth $5,690,000 after purchasing an additional 28,030 shares during the last quarter. Institutional investors own 88.98% 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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