StockNews.com Upgrades Alamo Group (NYSE:ALG) to Buy

Alamo Group (NYSE:ALG) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Separately, DA Davidson raised their price target on shares of Alamo Group from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th.

Alamo Group Stock Up 0.2 %

NYSE ALG opened at $204.99 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.76 and a quick ratio of 1.99. The stock has a market capitalization of $2.47 billion, a PE ratio of 18.04 and a beta of 1.04. Alamo Group has a 1 year low of $157.74 and a 1 year high of $231.40. The business’s 50-day moving average is $211.20 and its 200 day moving average is $199.26.

Alamo Group (NYSE:ALG) last released its earnings results on Thursday, February 22nd. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.85 by ($0.22). Alamo Group had a net margin of 8.06% and a return on equity of 15.52%. The business had revenue of $417.54 million for the quarter. Sell-side analysts forecast that Alamo Group will post 13.17 earnings per share for the current year.

Insider Buying and Selling at Alamo Group

In related news, EVP Michael A. Haberman sold 418 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $223.87, for a total value of $93,577.66. Following the completion of the transaction, the executive vice president now owns 19,206 shares of the company’s stock, valued at approximately $4,299,647.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.40% of the company’s stock.

Institutional Trading of Alamo Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its position in shares of Alamo Group by 42.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 399,190 shares of the industrial products company’s stock worth $83,906,000 after acquiring an additional 119,636 shares during the period. Tributary Capital Management LLC purchased a new position in shares of Alamo Group during the first quarter worth approximately $12,844,000. Vaughan Nelson Investment Management L.P. increased its position in shares of Alamo Group by 19.9% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 320,688 shares of the industrial products company’s stock worth $73,223,000 after acquiring an additional 53,195 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Alamo Group by 251.1% during the third quarter. Assenagon Asset Management S.A. now owns 44,214 shares of the industrial products company’s stock worth $7,643,000 after acquiring an additional 31,621 shares during the period. Finally, RK Capital Management LLC purchased a new position in shares of Alamo Group during the third quarter worth approximately $5,177,000. 92.36% of the stock is owned by hedge funds and other institutional investors.

Alamo Group Company Profile

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.