Zacks: Alamo Group, Inc. (ALG) Given Consensus Rating of “Buy” by Analysts
Alamo Group, Inc. (NYSE:ALG) has earned a consensus broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and one has given a strong buy rating to the company.
Brokers have set a 12 month consensus price objective of $109.50 for the company and are predicting that the company will post $0.98 earnings per share for the current quarter, according to Zacks. Zacks has also given Alamo Group an industry rank of 4 out of 265 based on the ratings given to related companies.
A number of analysts have weighed in on the company. Zacks Investment Research upgraded Alamo Group from a “sell” rating to a “strong-buy” rating and set a $131.00 target price for the company in a report on Tuesday, November 7th. ValuEngine lowered Alamo Group from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Piper Jaffray Companies set a $104.00 target price on Alamo Group and gave the stock a “buy” rating in a report on Sunday, October 1st.
Alamo Group (NYSE:ALG) last posted its earnings results on Tuesday, October 31st. The industrial products company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.16. The company had revenue of $240.46 million during the quarter, compared to analyst estimates of $223.40 million. Alamo Group had a return on equity of 12.11% and a net margin of 5.56%. sell-side analysts anticipate that Alamo Group will post 4.49 EPS for the current fiscal year.
In related news, VP Geoff Davies sold 4,000 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $98.16, for a total value of $392,640.00. Following the completion of the transaction, the vice president now owns 3,800 shares in the company, valued at approximately $373,008. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Richard Hodges Raborn sold 2,000 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $111.53, for a total value of $223,060.00. Following the completion of the transaction, the executive vice president now owns 4,500 shares of the company’s stock, valued at approximately $501,885. The disclosure for this sale can be found here. Corporate insiders own 3.99% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Piedmont Investment Advisors LLC purchased a new position in Alamo Group in the 3rd quarter worth $223,000. Kalos Management Inc. acquired a new stake in Alamo Group during the 3rd quarter worth about $388,000. PEAK6 Investments L.P. grew its position in Alamo Group by 254.1% during the 3rd quarter. PEAK6 Investments L.P. now owns 8,208 shares of the industrial products company’s stock worth $881,000 after purchasing an additional 5,890 shares during the period. Convergence Investment Partners LLC acquired a new stake in Alamo Group during the 3rd quarter worth about $1,519,000. Finally, Schwab Charles Investment Management Inc. grew its position in Alamo Group by 12.9% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 53,528 shares of the industrial products company’s stock worth $5,748,000 after purchasing an additional 6,128 shares during the period. Institutional investors own 91.91% 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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