Alamo Group, Inc. (NYSE:ALG) Receives Average Recommendation of “Moderate Buy” from Brokerages

Alamo Group, Inc. (NYSE:ALG) has been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $224.00.

Several brokerages recently weighed in on ALG. Weiss Ratings cut Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Zacks Research raised Alamo Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. DA Davidson reduced their price target on Alamo Group from $190.00 to $188.00 and set a “neutral” rating on the stock in a research note on Monday, May 11th. Finally, William Blair began coverage on Alamo Group in a research note on Monday, March 16th. They issued an “outperform” rating on the stock.

Institutional Investors Weigh In On Alamo Group

A number of institutional investors have recently modified their holdings of the stock. Natixis Advisors LLC grew its stake in shares of Alamo Group by 0.4% in the third quarter. Natixis Advisors LLC now owns 15,926 shares of the industrial products company’s stock worth $3,040,000 after acquiring an additional 61 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Alamo Group by 4.6% in the third quarter. PNC Financial Services Group Inc. now owns 1,649 shares of the industrial products company’s stock worth $315,000 after acquiring an additional 73 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of Alamo Group by 1.7% in the fourth quarter. State of Alaska Department of Revenue now owns 6,250 shares of the industrial products company’s stock worth $1,048,000 after acquiring an additional 106 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Alamo Group by 0.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,970 shares of the industrial products company’s stock worth $4,192,000 after acquiring an additional 117 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of Alamo Group by 1.5% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 8,744 shares of the industrial products company’s stock worth $1,472,000 after acquiring an additional 130 shares during the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

Alamo Group Price Performance

Shares of ALG stock opened at $168.81 on Friday. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 0.99 and a beta of 1.11. The business’s fifty day moving average is $158.85 and its 200 day moving average is $174.96. Alamo Group has a twelve month low of $145.76 and a twelve month high of $233.29. The company has a quick ratio of 2.45, a current ratio of 4.32 and a debt-to-equity ratio of 0.23.

Alamo Group (NYSE:ALG) last issued its quarterly earnings results on Monday, May 4th. The industrial products company reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.36. The company had revenue of $417.15 million for the quarter, compared to analysts’ expectations of $398.02 million. Alamo Group had a return on equity of 9.71% and a net margin of 6.21%. Research analysts expect that Alamo Group will post 10.65 EPS for the current fiscal year.

Alamo Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 29th. Investors of record on Wednesday, April 15th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, April 15th. Alamo Group’s dividend payout ratio is presently 16.27%.

Alamo Group Company Profile

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.