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

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

Other research analysts have also issued reports about the stock. HC Wainwright boosted their price target on shares of Alto Ingredients from $5.50 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Weiss Ratings upgraded shares of Alto Ingredients from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 4th. Finally, Wall Street Zen upgraded shares of Alto Ingredients from a “buy” rating to a “strong-buy” rating in a research note on Monday, March 23rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $10.00.

Alto Ingredients Trading Down 2.5%

NASDAQ ALTO opened at $5.53 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.54 and a current ratio of 3.81. The firm has a market cap of $428.52 million, a PE ratio of 14.95 and a beta of 0.13. Alto Ingredients has a one year low of $0.92 and a one year high of $5.99. The firm’s fifty day moving average is $4.93 and its two-hundred day moving average is $3.58.

Alto Ingredients (NASDAQ:ALTO) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.05 EPS for the quarter, beating 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 company had revenue of $224.68 million for the quarter, compared to analyst estimates of $215.65 million. Analysts expect that Alto Ingredients will post 0.54 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Gilbert E. Nathan acquired 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were purchased at an average price of $4.61 per share, with a total value of $92,200.00. Following the completion of the acquisition, the director owned 769,741 shares in the company, valued at approximately $3,548,506.01. This represents a 2.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 5.26% of the company’s stock.

Institutional Trading of Alto Ingredients

Institutional investors have recently added to or reduced their stakes in the stock. Hamilton Capital Partners LLC purchased a new stake in Alto Ingredients during the fourth quarter worth about $577,000. AdvisorShares Investments LLC purchased a new stake in shares of Alto Ingredients in the fourth quarter valued at about $423,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Alto Ingredients in the fourth quarter valued at about $418,000. Corsair Capital Management L.P. lifted its holdings in shares of Alto Ingredients by 4.0% in the first quarter. Corsair Capital Management L.P. now owns 260,200 shares of the company’s stock valued at $1,259,000 after purchasing an additional 10,000 shares in the last quarter. Finally, State of Wyoming purchased a new stake in shares of Alto Ingredients in the first quarter valued at about $431,000. Hedge funds and other institutional investors own 42.44% of the company’s stock.

About Alto Ingredients

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.