Alto Ingredients, Inc. (NASDAQ:ALTO – Free Report) – Stock analysts at HC Wainwright dropped their FY2023 earnings per share (EPS) estimates for Alto Ingredients in a research note issued on Tuesday, November 7th. HC Wainwright analyst A. Dayal now anticipates that the company will post earnings per share of ($0.18) for the year, down from their prior forecast of $0.15. HC Wainwright currently has a “Buy” rating and a $5.50 price target on the stock. The consensus estimate for Alto Ingredients’ current full-year earnings is $0.15 per share. HC Wainwright also issued estimates for Alto Ingredients’ Q4 2023 earnings at ($0.04) EPS and FY2024 earnings at $0.15 EPS.
Alto Ingredients (NASDAQ:ALTO – Get Free Report) last announced its quarterly earnings data on Monday, August 7th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.17. Alto Ingredients had a negative net margin of 3.30% and a negative return on equity of 13.81%. The firm had revenue of $317.30 million during the quarter, compared to the consensus estimate of $306.53 million.
Alto Ingredients Price Performance
Institutional Trading of Alto Ingredients
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Citigroup Inc. lifted its holdings in Alto Ingredients by 78,289.3% in the 3rd quarter. Citigroup Inc. now owns 87,796 shares of the company’s stock worth $388,000 after buying an additional 87,684 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Alto Ingredients by 11.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,080,916 shares of the company’s stock worth $9,198,000 after purchasing an additional 210,420 shares during the last quarter. Barclays PLC grew its position in Alto Ingredients by 210.5% in the 3rd quarter. Barclays PLC now owns 106,345 shares of the company’s stock worth $471,000 after purchasing an additional 72,092 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Alto Ingredients by 3.2% in the third quarter. Bank of New York Mellon Corp now owns 100,142 shares of the company’s stock valued at $443,000 after acquiring an additional 3,072 shares in the last quarter. Finally, Lodestone Wealth Management LLC bought a new position in shares of Alto Ingredients in the third quarter valued at approximately $5,304,000. 35.38% of the stock is owned by hedge funds and other institutional investors.
About Alto Ingredients
Alto Ingredients, Inc produces and markets specialty alcohols and essential ingredients in the United States. The company operates in three segments: Marketing and Distribution, Pekin Production, and Other Production. It offers specialty alcohols used in mouthwash, cosmetics, pharmaceuticals, hand sanitizers, disinfectants, and cleaners for health, home, and beauty markets; grain neutral spirits used in alcoholic beverages and vinegar, as well as corn germ used in corn oils and carbon dioxide used for beverage carbonation and dry ice; and essential ingredients include dried yeast, corn gluten meal, corn gluten feed, distiller's grains, and liquid feed for commercial animal feed and pet food applications.
- Five stocks we like better than Alto Ingredients
- How to Invest in Insurance Companies: A Guide
- Institutional activity provides a bottom for gaming stocks
- What Does a Stock Split Mean?
- Coca-Cola EuroPacific Partners is a tasty play on Coke
- Stock Market Sectors: What Are They and How Many Are There?
- 3 reasons Qualcomm might be the easiest buy this month
Receive News & Ratings for Alto Ingredients Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alto Ingredients and related companies with MarketBeat.com's FREE daily email newsletter.