Alto Ingredients (NASDAQ:ALTO) Upgraded to “Strong-Buy” at Wall Street Zen

Alto Ingredients (NASDAQ:ALTO) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Monday.

ALTO has been the subject of several other reports. Zacks Research raised Alto Ingredients from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 5th. Weiss Ratings raised Alto Ingredients from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Monday, March 16th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Alto Ingredients has an average rating of “Buy”.

Alto Ingredients Stock Performance

Alto Ingredients stock opened at $4.16 on Monday. The company’s 50-day moving average price is $3.06 and its 200-day moving average price is $2.24. The company has a quick ratio of 1.60, a current ratio of 2.64 and a debt-to-equity ratio of 0.26. The company has a market cap of $321.53 million, a PE ratio of 26.00 and a beta of 0.60. Alto Ingredients has a twelve month low of $0.76 and a twelve month high of $4.89.

Alto Ingredients (NASDAQ:ALTO) last announced its quarterly earnings results on Wednesday, March 4th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.17. Alto Ingredients had a net margin of 1.45% and a return on equity of 2.99%. The firm had revenue of $231.97 million during the quarter, compared to the consensus estimate of $234.83 million. On average, equities research analysts forecast that Alto Ingredients will post -0.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ALTO. Vontobel Holding Ltd. bought a new stake in shares of Alto Ingredients during the fourth quarter valued at approximately $33,000. Leonteq Securities AG purchased a new position in Alto Ingredients during the 4th quarter worth $44,000. CreativeOne Wealth LLC bought a new stake in Alto Ingredients during the 4th quarter valued at $46,000. Virtu Financial LLC purchased a new stake in shares of Alto Ingredients in the 3rd quarter worth $52,000. Finally, JPMorgan Chase & Co. grew its position 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 worth $58,000 after buying an additional 50,785 shares in the last quarter. 42.44% of the stock is currently owned by institutional investors.

About Alto Ingredients

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.