Alamo Group (NYSE:ALG) Stock Rating Lowered by Zacks Research

Alamo Group (NYSE:ALG) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Thursday,Zacks.com reports.

ALG has been the topic of a number of other research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Alamo Group in a research report on Thursday. Wall Street Zen downgraded Alamo Group from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Robert W. Baird raised shares of Alamo Group from a “neutral” rating to an “outperform” rating and raised their target price for the company from $209.00 to $260.00 in a research note on Monday, August 4th. Baird R W upgraded shares of Alamo Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 4th. Finally, DA Davidson reduced their price target on Alamo Group from $225.00 to $190.00 and set a “neutral” rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $222.33.

Alamo Group Stock Down 2.2%

NYSE:ALG traded down $3.61 during trading hours on Thursday, reaching $162.05. 133,038 shares of the stock were exchanged, compared to its average volume of 105,639. The stock has a market cap of $1.96 billion, a PE ratio of 16.50, a PEG ratio of 0.94 and a beta of 1.13. Alamo Group has a twelve month low of $157.07 and a twelve month high of $233.29. The firm has a 50 day moving average of $187.16 and a 200 day moving average of $202.54. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.56 and a quick ratio of 2.76.

Alamo Group (NYSE:ALG) last announced its quarterly earnings data on Thursday, November 6th. The industrial products company reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.61 by ($0.27). The business had revenue of $420.04 million during the quarter, compared to the consensus estimate of $407.55 million. Alamo Group had a return on equity of 11.45% and a net margin of 7.41%. On average, equities analysts expect that Alamo Group will post 9.53 earnings per share for the current year.

Insider Transactions at Alamo Group

In other Alamo Group news, CEO Jeffery Allen Leonard sold 2,500 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $222.19, for a total value of $555,475.00. Following the transaction, the chief executive officer directly owned 38,413 shares of the company’s stock, valued at $8,534,984.47. This represents a 6.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.18% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alamo Group

A number of institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC grew its stake in shares of Alamo Group by 30.0% in the first quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 61 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Alamo Group by 31.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 271 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 65 shares during the period. Jones Financial Companies Lllp grew its position in shares of Alamo Group by 3,140.0% during the 1st quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 314 shares in the last quarter. MAI Capital Management bought a new position in shares of Alamo Group during the third quarter worth approximately $73,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Alamo Group in the second quarter valued at approximately $87,000. Institutional investors own 92.36% of the company’s stock.

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.