Zacks Research Downgrades Alamo Group (NYSE:ALG) to Strong Sell

by · The Markets Daily

Alamo Group (NYSE:ALG – Get Free Report) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Thursday,Zacks.com reports.

ALG has been the topic of several other research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Alamo Group in a research report on Thursday. Wall Street Zen lowered Alamo Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Robert W. Baird upgraded Alamo Group from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $209.00 to $260.00 in a research report on Monday, August 4th. Baird R W raised Alamo Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 4th. Finally, DA Davidson cut their target price on Alamo Group from $225.00 to $190.00 and set a “neutral” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alamo Group has a consensus rating of “Hold” and an average price target of $222.33.

Check Out Our Latest Analysis on ALG

Alamo Group Price Performance

Alamo Group stock traded down $3.61 during midday trading on Thursday, hitting $162.05. 133,038 shares of the company’s stock were exchanged, compared to its average volume of 105,639. The company has a market cap of $1.96 billion, a P/E ratio of 16.50, a PEG ratio of 0.94 and a beta of 1.13. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.76 and a current ratio of 4.56. The stock has a 50-day moving average price of $187.16 and a two-hundred day moving average price of $202.54. Alamo Group has a 52-week low of $157.07 and a 52-week high of $233.29.

Alamo Group (NYSE:ALG – Get Free Report) last issued its quarterly earnings results on Thursday, November 6th. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.61 by ($0.27). The business had revenue of $420.04 million for the quarter, compared to the consensus estimate of $407.55 million. Alamo Group had a net margin of 7.41% and a return on equity of 11.45%. On average, equities research analysts forecast that Alamo Group will post 9.53 earnings per share for the current year.

Insider Transactions at Alamo Group

In other news, CEO Jeffery Allen Leonard sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $222.19, for a total value of $555,475.00. Following the transaction, the chief executive officer owned 38,413 shares in the company, valued at approximately $8,534,984.47. This represents a 6.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.18% of the company’s stock.

Institutional Trading of Alamo Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Schonfeld Strategic Advisors LLC purchased a new position in shares of Alamo Group in the third quarter worth $1,407,000. Lazard Asset Management LLC grew its stake in shares of Alamo Group by 102.0% in the third quarter. Lazard Asset Management LLC now owns 13,656 shares of the industrial products company’s stock worth $2,607,000 after acquiring an additional 6,897 shares during the period. Raymond James Financial Inc. raised its holdings in shares of Alamo Group by 19.9% during the third quarter. Raymond James Financial Inc. now owns 32,480 shares of the industrial products company’s stock valued at $6,200,000 after purchasing an additional 5,391 shares during the last quarter. Amundi lifted its position in Alamo Group by 9.7% during the third quarter. Amundi now owns 1,908 shares of the industrial products company’s stock valued at $360,000 after purchasing an additional 168 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in Alamo Group by 5.5% in the third quarter. California State Teachers Retirement System now owns 10,002 shares of the industrial products company’s stock worth $1,909,000 after purchasing an additional 518 shares during the last quarter. Institutional investors own 92.36% of the company’s stock.

About Alamo Group

(Get Free Report)

Alamo Group Inc designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. It operates through two segments, Vegetation Management and Industrial Equipment. Its Vegetation Management Division segment offers hydraulically-powered and tractor – and off-road chassis 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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