Alamo Group (NYSE:ALG) Price Target Cut to $195.00 by Analysts at DA Davidson

Alamo Group (NYSE:ALG) had its price objective decreased by DA Davidson from $217.00 to $195.00 in a report published on Monday morning,Benzinga reports. DA Davidson currently has a buy rating on the industrial products company’s stock.

Several other research analysts have also recently issued reports on ALG. Robert W. Baird cut Alamo Group from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $224.00 to $177.00 in a research note on Friday, February 28th. StockNews.com cut shares of Alamo Group from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Baird R W lowered shares of Alamo Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Industrial Alliance Securities set a $217.00 target price on shares of Alamo Group in a research report on Monday, March 3rd.

Alamo Group Stock Performance

Shares of Alamo Group stock opened at $161.73 on Monday. The firm has a market capitalization of $1.96 billion, a P/E ratio of 16.29 and a beta of 1.00. Alamo Group has a 52 week low of $157.07 and a 52 week high of $208.66. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21. The company has a 50 day moving average price of $179.11 and a 200 day moving average price of $183.65.

Alamo Group (NYSE:ALG) last posted its quarterly earnings data on Thursday, February 27th. The industrial products company reported $2.39 EPS for the quarter, topping the consensus estimate of $2.23 by $0.16. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. The business had revenue of $385.32 million during the quarter, compared to the consensus estimate of $396.85 million. Sell-side analysts expect that Alamo Group will post 9.53 EPS for the current year.

Alamo Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Investors of record on Wednesday, April 16th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $1.20 annualized dividend and a yield of 0.74%. Alamo Group’s dividend payout ratio is presently 12.46%.

Hedge Funds Weigh In On Alamo Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC increased its position in shares of Alamo Group by 80.0% in the first quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company’s stock valued at $29,000 after buying an additional 72 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Alamo Group by 442.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 168 shares during the period. GAMMA Investing LLC lifted its holdings in Alamo Group by 110.6% during the first quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 125 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Alamo Group in the fourth quarter valued at about $79,000. Finally, KBC Group NV increased its stake in shares of Alamo Group by 57.1% during the fourth quarter. KBC Group NV now owns 520 shares of the industrial products company’s stock worth $97,000 after purchasing an additional 189 shares in the last quarter. Hedge funds and other 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.