Alamo Group (NYSE:ALG) Stock Price Target Cut by DA Davidson

Alamo Group (NYSE:ALG) had its price target lowered by stock analysts at DA Davidson from $188.00 to $161.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. DA Davidson‘s target price points to a potential upside of 13.53% from the company’s current price.

Other analysts also recently issued research reports about the stock. Zacks Research downgraded shares of Alamo Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 5th. Weiss Ratings cut Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $161.00.

Alamo Group Trading Up 1.5%

ALG traded up $2.08 on Wednesday, reaching $141.81. 70,842 shares of the company traded hands, compared to its average volume of 162,417. Alamo Group has a one year low of $133.32 and a one year high of $219.88. The firm has a fifty day simple moving average of $156.49 and a two-hundred day simple moving average of $167.33. The company has a market cap of $1.72 billion, a P/E ratio of 22.12, a price-to-earnings-growth ratio of 1.58 and a beta of 1.08. The company has a quick ratio of 2.41, a current ratio of 4.19 and a debt-to-equity ratio of 0.19.

Alamo Group (NYSE:ALG) last issued its earnings results on Monday, November 2nd. The industrial products company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.56). The company had revenue of $403.14 million during the quarter, compared to the consensus estimate of $437.11 million. Alamo Group had a return on equity of 9.43% and a net margin of 4.72%. As a group, equities research analysts expect that Alamo Group will post 9.90 earnings per share for the current year.

Insider Activity

In related news, EVP Edward Rizzuti sold 2,715 shares of Alamo Group stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $164.41, for a total transaction of $446,373.15. Following the transaction, the executive vice president directly owned 8,142 shares of the company’s stock, valued at $1,338,626.22. This trade represents a 25.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.06% of the company’s stock.

Institutional Trading of Alamo Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of Alamo Group in the 2nd quarter valued at $288,972,000. Dimensional Fund Advisors LP lifted its stake in shares of Alamo Group by 5.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 527,399 shares of the industrial products company’s stock worth $87,006,000 after purchasing an additional 27,597 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Alamo Group by 5.4% during the 1st quarter. First Trust Advisors LP now owns 469,289 shares of the industrial products company’s stock worth $77,419,000 after purchasing an additional 24,184 shares during the last quarter. Copeland Capital Management LLC lifted its stake in shares of Alamo Group by 189.3% during the 1st quarter. Copeland Capital Management LLC now owns 181,465 shares of the industrial products company’s stock worth $29,936,000 after purchasing an additional 118,737 shares during the last quarter. Finally, Jupiter Topco LLC bought a new stake in Alamo Group during the second quarter valued at about $28,617,000. Institutional investors own 92.36% of the company’s stock.

Alamo Group Company Profile

Alamo Group Inc. is a manufacturer of equipment used to maintain infrastructure and manage vegetation. Its products serve municipal, utility, contractor and agricultural customers, including equipment for roadside mowing, street and vegetation maintenance, snow removal and land management. The company also makes agricultural machinery such as rotary cutters, mowers, tillage and hay tools. Its product portfolio includes equipment sold under brands such as Bush Hog, Gradall, Ventrac and McConnel. Founded in 1969 and headquartered in Seguin, Texas, Alamo Group serves customers in North America and international markets through its manufacturing operations and dealer network.