Alamo Group, Inc. (NYSE:ALG) Receives $224.00 Average Price Target from Brokerages

Shares of Alamo Group, Inc. (NYSE:ALG) have been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $224.00.

Several analysts recently weighed in on ALG shares. Zacks Research upgraded Alamo Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. Weiss Ratings cut Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Finally, DA Davidson reissued a “neutral” rating and issued a $188.00 target price on shares of Alamo Group in a report on Wednesday, July 1st.

Hedge Funds Weigh In On Alamo Group

A number of hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC increased its position in shares of Alamo Group by 136.2% during the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 177 shares in the last quarter. Jones Financial Companies Lllp lifted its position in Alamo Group by 3,140.0% in the 1st quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 314 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Alamo Group during the 2nd quarter valued at $87,000. Kestra Advisory Services LLC purchased a new stake in Alamo Group during the 4th quarter valued at $76,000. Finally, Globeflex Capital L P bought a new stake in shares of Alamo Group in the 2nd quarter worth $100,000. Institutional investors own 92.36% of the company’s stock.

Alamo Group Price Performance

Shares of ALG opened at $156.61 on Thursday. The stock has a market cap of $1.91 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 0.96 and a beta of 1.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.45 and a current ratio of 4.32. Alamo Group has a fifty-two week low of $145.76 and a fifty-two week high of $233.29. The firm’s 50-day simple moving average is $159.28 and its two-hundred day simple moving average is $173.44.

Alamo Group (NYSE:ALG) last announced its earnings results on Monday, May 4th. The industrial products company reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.36. Alamo Group had a net margin of 6.21% and a return on equity of 9.71%. The business had revenue of $417.15 million during the quarter, compared to the consensus estimate of $398.02 million. Analysts anticipate that Alamo Group will post 10.65 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Stockholders of record on Thursday, July 16th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Thursday, July 16th. Alamo Group’s payout ratio is currently 16.27%.

Alamo Group Company Profile

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.