Alto Ingredients (NASDAQ:ALTO) Stock Rating Lowered by Zacks Research

Alto Ingredients (NASDAQ:ALTO) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

ALTO has been the subject of several other research reports. Wall Street Zen upgraded Alto Ingredients from a “buy” rating to a “strong-buy” rating in a research note on Monday, March 23rd. HC Wainwright raised their price objective on Alto Ingredients from $5.50 to $10.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Weiss Ratings upgraded Alto Ingredients from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Alto Ingredients currently has a consensus rating of “Hold” and an average price target of $10.00.

Alto Ingredients Stock Down 1.2%

ALTO stock opened at $5.65 on Monday. The company has a current ratio of 3.81, a quick ratio of 2.54 and a debt-to-equity ratio of 0.29. Alto Ingredients has a 1 year low of $0.92 and a 1 year high of $6.11. The company has a fifty day simple moving average of $5.22 and a 200 day simple moving average of $4.09. The firm has a market cap of $437.82 million, a PE ratio of 15.27 and a beta of 0.13.

Alto Ingredients (NASDAQ:ALTO) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.13. Alto Ingredients had a net margin of 3.20% and a return on equity of 9.77%. The firm had revenue of $224.68 million during the quarter, compared to analysts’ expectations of $215.65 million. Sell-side analysts anticipate that Alto Ingredients will post 0.54 EPS for the current fiscal year.

Insider Transactions at Alto Ingredients

In other Alto Ingredients news, Director Gilbert E. Nathan purchased 20,000 shares of the stock in a transaction dated Tuesday, May 12th. The shares were bought at an average cost of $4.61 per share, with a total value of $92,200.00. Following the completion of the transaction, the director owned 769,741 shares in the company, valued at $3,548,506.01. This trade represents a 2.67% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.28% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alto Ingredients

Large investors have recently made changes to their positions in the business. Marshall Wace LLP acquired a new stake in shares of Alto Ingredients in the fourth quarter worth $3,324,000. Hillsdale Investment Management Inc. raised its stake in Alto Ingredients by 590.1% during the 1st quarter. Hillsdale Investment Management Inc. now owns 1,000,703 shares of the company’s stock valued at $4,843,000 after purchasing an additional 855,703 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Alto Ingredients by 67.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,790,263 shares of the company’s stock valued at $8,665,000 after purchasing an additional 723,996 shares during the last quarter. Bank of America Corp DE boosted its holdings in Alto Ingredients by 1,441.7% in the 1st quarter. Bank of America Corp DE now owns 550,294 shares of the company’s stock valued at $2,663,000 after purchasing an additional 514,600 shares during the period. Finally, Walleye Capital LLC bought a new stake in Alto Ingredients in the 1st quarter valued at $2,253,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

Alto Ingredients Company Profile

Alto Ingredients, Inc (NASDAQ: ALTO) is a diversified producer of alcohol-based products and specialty ingredients for industrial, food, beverage and personal care applications. The company’s core offering centers on ethanol produced for fuel markets, as well as an expanding portfolio of natural and organic alcohols, glycerin and other ingredient solutions. Alto’s product lines serve a range of end markets, including renewable fuels, confectionery, flavorings, cosmetics and sanitizers.

Headquartered in Dallas, Texas, Alto Ingredients operates a network of production facilities across the United States.