DA Davidson Lowers Alamo Group (NYSE:ALG) Price Target to $190.00

Alamo Group (NYSE:ALG) had its price target cut by research analysts at DA Davidson from $225.00 to $190.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. DA Davidson’s price target would indicate a potential upside of 14.70% from the stock’s previous close.

Several other equities research analysts have also recently commented on ALG. Wall Street Zen cut Alamo Group from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings downgraded Alamo Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Robert W. Baird upgraded Alamo Group from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $209.00 to $260.00 in a report on Monday, August 4th. Finally, Baird R W raised Alamo Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Alamo Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $222.33.

Alamo Group Trading Up 0.1%

NYSE:ALG traded up $0.24 during trading hours on Tuesday, hitting $165.65. 38,352 shares of the company were exchanged, compared to its average volume of 104,650. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 16.87, a price-to-earnings-growth ratio of 0.94 and a beta of 1.13. Alamo Group has a one year low of $157.07 and a one year high of $233.29. The company has a fifty day simple moving average of $190.71 and a 200 day simple moving average of $203.12. The company has a current ratio of 4.56, a quick ratio of 2.76 and a debt-to-equity ratio of 0.18.

Alamo Group (NYSE:ALG) last posted its quarterly earnings data on Thursday, November 6th. The industrial products company reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.61 by ($0.27). The firm had revenue of $420.04 million for the quarter, compared to analyst estimates of $407.55 million. Alamo Group had a return on equity of 11.45% and a net margin of 7.41%. Sell-side analysts expect that Alamo Group will post 9.53 EPS for the current fiscal year.

Insider Activity

In related news, CEO Jeffery Allen Leonard sold 2,500 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $222.19, for a total transaction of $555,475.00. Following the completion of the sale, the chief executive officer directly owned 38,413 shares of the company’s stock, valued at approximately $8,534,984.47. This trade represents a 6.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.18% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alamo Group

Several large investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC boosted its holdings in shares of Alamo Group by 30.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company’s stock worth $47,000 after buying an additional 61 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Alamo Group by 31.6% in the first quarter. Smartleaf Asset Management LLC now owns 271 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 65 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Alamo Group by 3,140.0% during 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 during the period. MAI Capital Management purchased a new stake in shares of Alamo Group during the 3rd quarter worth approximately $73,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of Alamo Group in the 2nd quarter worth approximately $87,000. 92.36% of the stock is 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.