Alamo Group (NYSE:ALG) Price Target Cut to $161.00 by Analysts at DA Davidson

Alamo Group (NYSE:ALG) had its price objective decreased by equities research analysts at DA Davidson from $188.00 to $161.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. DA Davidson‘s price target suggests a potential upside of 13.53% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Weiss Ratings downgraded shares of Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, October 2nd. Zacks Research cut Alamo Group from a “hold” rating to a “strong sell” rating in a report on Thursday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Alamo Group presently has an average rating of “Hold” and a consensus price target of $161.00.

Alamo Group Stock Up 1.5%

Shares of ALG stock traded up $2.08 during trading hours on Wednesday, hitting $141.81. 70,842 shares of the company’s stock traded hands, compared to its average volume of 162,417. The stock’s fifty day simple moving average is $156.49 and its two-hundred day simple moving average is $167.33. Alamo Group has a 12-month low of $133.32 and a 12-month high of $219.88. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 1.58 and a beta of 1.08. The company has a quick ratio of 2.41, a current ratio of 4.19 and a debt-to-equity ratio of 0.19.

Alamo Group (NYSE:ALG) last announced its quarterly earnings results on Monday, November 2nd. The industrial products company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.62 by ($0.56). The firm had revenue of $403.14 million for the quarter, compared to the consensus estimate of $437.11 million. Alamo Group had a net margin of 4.72% and a return on equity of 9.43%. On average, analysts expect that Alamo Group will post 9.90 EPS for the current year.

Insider Transactions at Alamo Group

In other Alamo Group news, EVP Edward Rizzuti sold 2,537 shares of the stock in a transaction on Friday, September 4th. The shares were sold at an average price of $174.68, for a total transaction of $443,163.16. Following the completion of the transaction, the executive vice president owned 5,605 shares in the company, valued at $979,081.40. This trade represents a 31.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.06% of the stock is currently owned by insiders.

Institutional Trading of Alamo Group

Institutional investors have recently bought and sold shares of the stock. Value Holdings Management CO. LLC bought a new stake in Alamo Group in the second quarter worth about $2,467,000. Bank of New York Mellon Corp bought a new position in shares of Alamo Group during the second quarter valued at approximately $9,803,000. Man Group plc bought a new position in shares of Alamo Group during the second quarter valued at approximately $2,299,000. Janus Henderson Group PLC raised its holdings in shares of Alamo Group by 13.8% in the first quarter. Janus Henderson Group PLC now owns 167,983 shares of the industrial products company’s stock worth $27,713,000 after buying an additional 20,410 shares during the period. Finally, Sei Investments Co. raised its holdings in shares of Alamo Group by 47.3% in the first quarter. Sei Investments Co. now owns 49,937 shares of the industrial products company’s stock worth $8,236,000 after buying an additional 16,034 shares during the period. 92.36% of the stock is currently owned by institutional investors.

About Alamo Group

Alamo Group Inc. is a manufacturer of equipment used to maintain infrastructure and manage vegetation. Its products serve municipal, utility, contractor and agricultural customers, including equipment for roadside mowing, street and vegetation maintenance, snow removal and land management. The company also makes agricultural machinery such as rotary cutters, mowers, tillage and hay tools. Its product portfolio includes equipment sold under brands such as Bush Hog, Gradall, Ventrac and McConnel. Founded in 1969 and headquartered in Seguin, Texas, Alamo Group serves customers in North America and international markets through its manufacturing operations and dealer network.