Alamo Group, Inc. (ALG) Receives Average Rating of “Buy” from Brokerages
Alamo Group, Inc. (NYSE:ALG) has earned an average broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating and one has issued a strong buy rating on the company.
Brokers have set a 1 year consensus target price of $109.50 for the company and are expecting that the company will post $0.98 EPS for the current quarter, according to Zacks. Zacks has also given Alamo Group an industry rank of 17 out of 265 based on the ratings given to related companies.
A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of 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 raised shares of Alamo Group from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Piper Jaffray Companies set a $104.00 price target on shares of Alamo Group and gave the stock a “buy” rating in a research note 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 the Zacks’ consensus estimate 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 net margin of 5.56% and a return on equity of 12.11%. research analysts predict that Alamo Group will post 4.49 EPS for the current year.
In related news, EVP Richard Hodges Raborn sold 2,000 shares of the stock in a transaction dated Monday, November 6th. The shares were 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 directly owns 4,500 shares of the company’s stock, valued at $501,885. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.99% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Acrospire Investment Management LLC increased its stake in shares of Alamo Group by 150.1% during the second quarter. Acrospire Investment Management LLC now owns 1,173 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 704 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Alamo Group during the third quarter valued at approximately $111,000. Pinebridge Investments L.P. increased its position in shares of Alamo Group by 1.4% during the second quarter. Pinebridge Investments L.P. now owns 1,248 shares of the industrial products company’s stock valued at $113,000 after acquiring an additional 17 shares in the last quarter. King Luther Capital Management Corp bought a new stake in shares of Alamo Group during the second quarter valued at approximately $210,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Alamo Group during the third quarter valued at approximately $210,000. 92.43% of the stock is owned by institutional investors and hedge funds.
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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