DA Davidson Issues Pessimistic Forecast for Alamo Group (NYSE:ALG) Stock Price

Alamo Group (NYSE:ALG) had its target price cut by stock analysts at DA Davidson from $190.00 to $188.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. DA Davidson’s price target points to a potential upside of 22.00% from the company’s current price.

A number of other research analysts have also recently weighed in on ALG. Weiss Ratings reissued a “hold (c)” rating on shares of Alamo Group in a research note on Friday, March 27th. William Blair began coverage on shares of Alamo Group in a research note on Monday, March 16th. They issued an “outperform” rating for the company. Finally, Zacks Research raised shares of Alamo Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Alamo Group currently has an average rating of “Moderate Buy” and an average price target of $224.00.

Alamo Group Price Performance

Shares of NYSE:ALG traded down $9.66 during trading on Monday, hitting $154.10. 132,271 shares of the stock were exchanged, compared to its average volume of 149,108. The company has a market cap of $1.88 billion, a PE ratio of 18.48, a P/E/G ratio of 0.96 and a beta of 1.17. The company has a current ratio of 4.32, a quick ratio of 2.45 and a debt-to-equity ratio of 0.23. The company has a fifty day moving average price of $174.04 and a two-hundred day moving average price of $179.02. Alamo Group has a 12-month low of $153.85 and a 12-month high of $233.29.

Alamo Group (NYSE:ALG) last posted its earnings results on Monday, May 4th. The industrial products company reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.36. Alamo Group had a return on equity of 9.71% and a net margin of 6.21%.The company had revenue of $417.15 million for the quarter, compared to the consensus estimate of $398.02 million. On average, analysts forecast that Alamo Group will post 10.63 EPS for the current year.

Insiders Place Their Bets

In other Alamo Group news, EVP Edward Rizzuti sold 600 shares of the business’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $170.93, for a total transaction of $102,558.00. Following the completion of the sale, the executive vice president owned 10,857 shares of the company’s stock, valued at approximately $1,855,787.01. The trade was a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nina C. Grooms sold 499 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $175.19, for a total value of $87,419.81. Following the sale, the director owned 2,844 shares of the company’s stock, valued at $498,240.36. This represents a 14.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.06% of the stock is currently owned by insiders.

Institutional Trading of Alamo Group

Institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC increased its position in Alamo Group by 136.2% during the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 177 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Alamo Group by 3,140.0% during the first quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock worth $58,000 after buying an additional 314 shares during the period. MAI Capital Management acquired a new stake in shares of Alamo Group in the third quarter worth $73,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Alamo Group in the second quarter worth $87,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of Alamo Group in the 4th quarter valued at $76,000. Hedge funds and other institutional investors own 92.36% of the company’s stock.

About Alamo Group

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.