Alto Ingredients (NASDAQ:ALTO) Stock Rating Upgraded by Wall Street Zen

Alto Ingredients (NASDAQ:ALTO) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Sunday.

Several other equities analysts have also weighed in on ALTO. Weiss Ratings restated a “sell (d-)” rating on shares of Alto Ingredients in a research note on Tuesday. Zacks Research raised Alto Ingredients from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Alto Ingredients has an average rating of “Moderate Buy” and a consensus price target of $5.50.

Alto Ingredients Price Performance

ALTO opened at $2.04 on Friday. The company has a quick ratio of 2.25, a current ratio of 3.52 and a debt-to-equity ratio of 0.57. The business has a fifty day moving average of $1.19 and a 200 day moving average of $1.11. The stock has a market cap of $157.78 million, a P/E ratio of -2.22 and a beta of 0.62. Alto Ingredients has a 52-week low of $0.76 and a 52-week high of $2.06.

Alto Ingredients (NASDAQ:ALTO) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.25. Alto Ingredients had a negative net margin of 7.16% and a negative return on equity of 18.78%. The business had revenue of $240.99 million during the quarter, compared to analyst estimates of $235.68 million. As a group, sell-side analysts anticipate that Alto Ingredients will post -0.37 EPS for the current year.

Hedge Funds Weigh In On Alto Ingredients

Institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC bought a new position in Alto Ingredients during the 3rd quarter valued at $52,000. Bridgeway Capital Management LLC boosted its holdings in Alto Ingredients by 7.3% during the third quarter. Bridgeway Capital Management LLC now owns 522,666 shares of the company’s stock worth $564,000 after buying an additional 35,607 shares in the last quarter. Peapod Lane Capital LLC lifted its stake in Alto Ingredients by 1.1% during the third quarter. Peapod Lane Capital LLC now owns 1,235,124 shares of the company’s stock valued at $1,334,000 after buying an additional 13,282 shares in the last quarter. Corsair Capital Management L.P. grew its holdings in shares of Alto Ingredients by 67.7% during the second quarter. Corsair Capital Management L.P. now owns 50,500 shares of the company’s stock valued at $58,000 after buying an additional 20,383 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Alto Ingredients by 2,539,250.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 50,787 shares of the company’s stock valued at $58,000 after buying an additional 50,785 shares during the period. Hedge funds and other institutional investors own 42.44% of the company’s stock.

About Alto Ingredients

Alto Ingredients, Inc produces, distributes, and markets specialty alcohols, renewable fuel, and essential ingredients in the United States. The company operates in three segments: Marketing and Distribution, Pekin Campus Production, and Western 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 in the food and beverage markets; alcohols and other products for paint applications and fertilizers in the industrial and agriculture markets; and essential ingredients include dried yeast, corn protein meal, corn protein feed, distiller's grains, and liquid feed for commercial animal feed and pet food applications, as well as yeast for human consumption.