Alamo Group (NYSE:ALG) Stock Rating Upgraded by StockNews.com

Alamo Group (NYSE:ALG) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

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

Alamo Group Trading Down 2.3 %

NYSE ALG opened at $199.52 on Wednesday. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 17.56 and a beta of 1.04. The firm’s fifty day moving average price is $210.48 and its 200 day moving average price is $199.29. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.76 and a quick ratio of 1.99. Alamo Group has a 12 month low of $157.74 and a 12 month high of $231.40.

Alamo Group (NYSE:ALG) last issued its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.22). The business 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%. On average, sell-side analysts expect that Alamo Group will post 13.17 earnings per share for the current fiscal year.

Insider Transactions at Alamo Group

In other news, EVP Michael A. Haberman sold 418 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $223.87, for a total value of $93,577.66. Following the completion of the transaction, the executive vice president now owns 19,206 shares in the company, valued at approximately $4,299,647.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Alamo Group

Several hedge funds have recently added to or reduced their stakes in ALG. Contravisory Investment Management Inc. grew its holdings in shares of Alamo Group by 73.4% during the first quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock worth $25,000 after buying an additional 47 shares in the last quarter. Shaker Investments LLC OH lifted its position in shares of Alamo Group by 1.5% during the first quarter. Shaker Investments LLC OH now owns 3,991 shares of the industrial products company’s stock worth $911,000 after purchasing an additional 58 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Alamo Group by 0.8% during the third quarter. Los Angeles Capital Management LLC now owns 9,211 shares of the industrial products company’s stock worth $1,592,000 after purchasing an additional 72 shares in the last quarter. Diversified Trust Co lifted its position in shares of Alamo Group by 5.2% during the first quarter. Diversified Trust Co now owns 1,451 shares of the industrial products company’s stock worth $331,000 after purchasing an additional 72 shares in the last quarter. Finally, Private Advisory Group LLC lifted its position in shares of Alamo Group by 2.6% during the third quarter. Private Advisory Group LLC now owns 3,165 shares of the industrial products company’s stock worth $547,000 after purchasing an additional 79 shares in the last quarter. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

About Alamo Group

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.