Zacks: Alamo Group, Inc. (NYSE:ALG) Given Average Recommendation of “Buy” by Analysts

Alamo Group, Inc. (NYSE:ALG) has been assigned an average broker rating score of 2.00 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and one has issued a strong buy rating on the company.

Brokers have set a 1-year consensus target price of $150.00 for the company and are predicting that the company will post $1.61 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Alamo Group an industry rank of 102 out of 255 based on the ratings given to its competitors.

Several brokerages have weighed in on ALG. Zacks Investment Research lowered Alamo Group from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Dougherty & Co lowered Alamo Group from a “buy” rating to a “neutral” rating in a research report on Sunday, November 3rd. Finally, Sidoti upped their target price on Alamo Group from $123.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, September 6th.

NYSE:ALG traded down $0.22 during trading hours on Friday, hitting $117.18. 1,007 shares of the company’s stock traded hands, compared to its average volume of 95,840. The firm has a market cap of $1.39 billion, a P/E ratio of 19.63, a P/E/G ratio of 1.88 and a beta of 0.71. Alamo Group has a twelve month low of $72.50 and a twelve month high of $129.93. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.65 and a current ratio of 4.36. The stock’s fifty day moving average price is $115.41 and its two-hundred day moving average price is $108.32.

Alamo Group (NYSE:ALG) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.34). Alamo Group had a return on equity of 13.07% and a net margin of 6.50%. The firm had revenue of $271.83 million during the quarter. On average, equities research analysts predict that Alamo Group will post 6.24 earnings per share for the current year.

In other Alamo Group news, insider Weiss Gary sold 25,205,509 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $1.18, for a total value of $29,742,500.62. Corporate insiders own 3.29% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC bought a new stake in shares of Alamo Group during the 2nd quarter worth about $76,000. Quantamental Technologies LLC bought a new stake in shares of Alamo Group during the 2nd quarter worth about $80,000. Point72 Hong Kong Ltd boosted its stake in shares of Alamo Group by 10,133.3% during the 2nd quarter. Point72 Hong Kong Ltd now owns 921 shares of the industrial products company’s stock worth $92,000 after acquiring an additional 912 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Alamo Group by 345.4% during the 2nd quarter. Bank of Montreal Can now owns 1,060 shares of the industrial products company’s stock worth $106,000 after acquiring an additional 822 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Alamo Group during the 2nd quarter worth about $115,000. Institutional investors own 94.43% of the company’s stock.

About Alamo Group

Alamo Group Inc designs, manufactures, distributes, and services agricultural and infrastructure maintenance equipment for governmental and industrial use worldwide. The company offers hydraulically-powered and tractor-mounted mowers, including boom-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.

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