StockNews.com Upgrades Alamo Group (NYSE:ALG) to Buy

Alamo Group (NYSE:ALG) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Separately, DA Davidson upped their price objective on shares of Alamo Group from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th.

Alamo Group Stock Up 0.2 %

NYSE:ALG opened at $204.99 on Wednesday. The company has a market cap of $2.47 billion, a PE ratio of 18.04 and a beta of 1.04. Alamo Group has a twelve month low of $157.74 and a twelve month high of $231.40. The company has a current ratio of 3.76, a quick ratio of 1.99 and a debt-to-equity ratio of 0.24. The company’s 50 day moving average is $211.20 and its two-hundred day moving average is $199.26.

Alamo Group (NYSE:ALG) last released its earnings results on Thursday, February 22nd. The industrial products company reported $2.63 earnings per share for the quarter, missing the consensus estimate of $2.85 by ($0.22). The company had revenue of $417.54 million for the quarter. Alamo Group had a return on equity of 15.52% and a net margin of 8.06%. Analysts anticipate that Alamo Group will post 13.17 EPS for the current year.

Insider Activity at Alamo Group

In related news, EVP Michael A. Haberman sold 418 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $223.87, for a total value of $93,577.66. Following the sale, the executive vice president now owns 19,206 shares of the company’s stock, valued at $4,299,647.22. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alamo Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Contravisory Investment Management Inc. boosted its position in shares of Alamo Group by 73.4% during the 1st quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 47 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Alamo Group during the 4th quarter worth $52,000. Duncker Streett & Co. Inc. purchased a new stake in shares of Alamo Group during the 1st quarter worth $82,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Alamo Group during the 4th quarter worth $208,000. Finally, FCA Corp TX purchased a new stake in shares of Alamo Group during the 4th quarter worth $210,000. 92.36% of the stock is currently owned by hedge funds and other 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.