Alto Ingredients (NASDAQ:ALTO) Downgraded to Hold Rating by Zacks Research

Alto Ingredients (NASDAQ:ALTO) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

ALTO has been the topic of a number of other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alto Ingredients in a research report on Monday. Wall Street Zen raised shares of Alto Ingredients from a “hold” rating to a “buy” rating in a report on Sunday, November 16th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Alto Ingredients presently has a consensus rating of “Hold” and an average target price of $5.50.

Alto Ingredients Trading Down 7.6%

Shares of ALTO stock opened at $2.66 on Thursday. The company has a quick ratio of 2.30, a current ratio of 3.56 and a debt-to-equity ratio of 0.45. Alto Ingredients has a 12 month low of $0.76 and a 12 month high of $3.18. The business’s 50 day moving average is $2.24 and its two-hundred day moving average is $1.51. The company has a market cap of $205.72 million, a PE ratio of -3.86 and a beta of 0.53.

Alto Ingredients (NASDAQ:ALTO) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.25. Alto Ingredients had a negative return on equity of 12.02% and a negative net margin of 5.44%.The business had revenue of $240.99 million for the quarter, compared to analyst estimates of $235.68 million. Equities analysts predict that Alto Ingredients will post -0.37 EPS for the current year.

Institutional Trading of Alto Ingredients

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Peapod Lane Capital LLC grew its position in shares of Alto Ingredients by 29.6% during the 2nd quarter. Peapod Lane Capital LLC now owns 1,221,842 shares of the company’s stock worth $1,405,000 after buying an additional 279,417 shares during the period. Creative Financial Designs Inc. ADV raised its position in shares of Alto Ingredients by 3.6% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 1,017,303 shares of the company’s stock valued at $1,170,000 after acquiring an additional 35,488 shares during the last quarter. Bridgeway Capital Management LLC lifted its stake in shares of Alto Ingredients by 7.3% in the 3rd quarter. Bridgeway Capital Management LLC now owns 522,666 shares of the company’s stock valued at $564,000 after purchasing an additional 35,607 shares during the period. Empowered Funds LLC boosted its position in shares of Alto Ingredients by 8.5% in the 1st quarter. Empowered Funds LLC now owns 275,552 shares of the company’s stock worth $314,000 after purchasing an additional 21,626 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Alto Ingredients by 2,539,250.0% during the second quarter. JPMorgan Chase & Co. now owns 50,787 shares of the company’s stock worth $58,000 after purchasing an additional 50,785 shares during the period. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Alto Ingredients Company Profile

Alto Ingredients, Inc (NASDAQ: ALTO) is a diversified producer of alcohol-based products and specialty ingredients for industrial, food, beverage and personal care applications. The company’s core offering centers on ethanol produced for fuel markets, as well as an expanding portfolio of natural and organic alcohols, glycerin and other ingredient solutions. Alto’s product lines serve a range of end markets, including renewable fuels, confectionery, flavorings, cosmetics and sanitizers.

Headquartered in Dallas, Texas, Alto Ingredients operates a network of production facilities across the United States.