Alto Ingredients (NASDAQ:ALTO) Rating Lowered to Buy at Wall Street Zen

Alto Ingredients (NASDAQ:ALTO) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Sunday.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Alto Ingredients in a research report on Monday, December 29th. Zacks Research raised Alto Ingredients from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Alto Ingredients Price Performance

Shares of NASDAQ:ALTO opened at $4.66 on Friday. The business’s 50 day simple moving average is $2.86 and its 200-day simple moving average is $2.12. Alto Ingredients has a 12 month low of $0.76 and a 12 month high of $4.89. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.56 and a quick ratio of 2.30. The firm has a market capitalization of $360.40 million, a price-to-earnings ratio of 29.13 and a beta of 0.60.

Alto Ingredients (NASDAQ:ALTO) last announced its earnings results on Wednesday, March 4th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.17. Alto Ingredients had a net margin of 1.45% and a return on equity of 3.10%. The business had revenue of $231.97 million during the quarter, compared to the consensus estimate of $234.83 million. As a group, equities analysts forecast that Alto Ingredients will post -0.37 earnings per share for the current fiscal year.

Institutional Trading of Alto Ingredients

Several institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC acquired a new position in Alto Ingredients during the 4th quarter worth $204,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Alto Ingredients in the 4th quarter worth about $164,000. Graham Capital Management L.P. acquired a new stake in shares of Alto Ingredients in the 4th quarter valued at about $146,000. Balyasny Asset Management L.P. acquired a new stake in shares of Alto Ingredients in the 4th quarter valued at about $117,000. Finally, Hudson Bay Capital Management LP bought a new position in shares of Alto Ingredients during the fourth quarter worth about $91,000. 42.44% of the stock is owned by institutional investors and hedge funds.

Alto Ingredients Company Profile

Alto Ingredients, Inc (NASDAQ: ALTO) is a diversified producer of alcohol-based products and specialty ingredients for industrial, food, beverage and personal care applications. The company’s core offering centers on ethanol produced for fuel markets, as well as an expanding portfolio of natural and organic alcohols, glycerin and other ingredient solutions. Alto’s product lines serve a range of end markets, including renewable fuels, confectionery, flavorings, cosmetics and sanitizers.

Headquartered in Dallas, Texas, Alto Ingredients operates a network of production facilities across the United States.