Alamo Group (NYSE:ALG) Price Target Lowered to $217.00 at DA Davidson

Alamo Group (NYSE:ALG) had its price objective dropped by DA Davidson from $219.00 to $217.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. DA Davidson’s price objective suggests a potential upside of 24.19% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on ALG. Robert W. Baird cut shares of Alamo Group from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $224.00 to $177.00 in a research report on Friday, February 28th. StockNews.com raised shares of Alamo Group from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Finally, Baird R W cut shares of Alamo Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 28th.

Alamo Group Stock Down 0.7 %

NYSE ALG opened at $174.74 on Monday. Alamo Group has a 52 week low of $163.74 and a 52 week high of $228.88. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $2.11 billion, a P/E ratio of 17.60 and a beta of 1.10. The stock’s 50-day moving average price is $183.36 and its 200-day moving average price is $184.11.

Alamo Group (NYSE:ALG) last released its earnings results on Thursday, February 27th. The industrial products company reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.16. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. The company had revenue of $385.32 million for the quarter, compared to analysts’ expectations of $396.85 million. On average, equities research analysts predict that Alamo Group will post 9.53 earnings per share for the current year.

Insider Transactions at Alamo Group

In other Alamo Group news, VP Janet S. Pollock sold 257 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $193.41, for a total value of $49,706.37. Following the completion of the sale, the vice president now owns 3,360 shares of the company’s stock, valued at $649,857.60. This trade represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Alamo Group

A number of institutional investors and hedge funds have recently modified their holdings of ALG. Vanguard Group Inc. increased its stake in Alamo Group by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 721,154 shares of the industrial products company’s stock worth $134,070,000 after purchasing an additional 2,361 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Alamo Group by 4.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 672,728 shares of the industrial products company’s stock worth $121,205,000 after purchasing an additional 30,826 shares during the last quarter. Victory Capital Management Inc. increased its stake in Alamo Group by 8.0% in the 4th quarter. Victory Capital Management Inc. now owns 448,718 shares of the industrial products company’s stock worth $83,421,000 after buying an additional 33,294 shares during the period. State Street Corp lifted its holdings in Alamo Group by 2.6% during the 3rd quarter. State Street Corp now owns 391,728 shares of the industrial products company’s stock valued at $70,562,000 after buying an additional 10,013 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Alamo Group by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 232,198 shares of the industrial products company’s stock valued at $41,834,000 after buying an additional 670 shares during the period. 92.36% of the stock is owned by institutional investors.

Alamo Group Company Profile

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.