Alamo Group (NYSE:ALG) Price Target Lowered to $225.00 at DA Davidson

Alamo Group (NYSE:ALG) had its target price cut by DA Davidson from $235.00 to $225.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. DA Davidson’s target price points to a potential upside of 16.27% from the stock’s previous close.

Separately, StockNews.com cut Alamo Group from a “buy” rating to a “hold” rating in a report on Monday.

Alamo Group Price Performance

Shares of ALG stock traded up $0.26 during trading hours on Tuesday, hitting $193.51. 4,569 shares of the company’s stock were exchanged, compared to its average volume of 71,857. The company has a quick ratio of 2.49, a current ratio of 4.29 and a debt-to-equity ratio of 0.32. The firm has a market cap of $2.33 billion, a P/E ratio of 17.22 and a beta of 1.07. The firm has a 50 day moving average of $208.22 and a two-hundred day moving average of $200.81. Alamo Group has a fifty-two week low of $157.74 and a fifty-two week high of $231.40.

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

Insider Buying and Selling at Alamo Group

In other Alamo Group news, EVP Michael A. Haberman sold 418 shares of Alamo Group stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $223.87, for a total transaction of $93,577.66. Following 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 available at this link. 1.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Contravisory Investment Management Inc. raised its holdings in Alamo Group by 73.4% during the first quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 47 shares during the last quarter. Quest Partners LLC acquired a new position in Alamo Group during the fourth quarter worth $52,000. Duncker Streett & Co. Inc. acquired a new position in Alamo Group during the first quarter worth $82,000. Vanguard Personalized Indexing Management LLC acquired a new position in Alamo Group during the fourth quarter worth $208,000. Finally, FCA Corp TX acquired a new position in Alamo Group during the fourth quarter worth $210,000. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

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.