Alamo Group (NYSE:ALG) Rating Lowered to Sell at ValuEngine

Alamo Group (NYSE:ALG) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Monday, ValuEngine reports.

A number of other equities research analysts have also weighed in on the company. Dougherty & Co upgraded Alamo Group from a “neutral” rating to a “buy” rating and set a $113.00 price target on the stock in a research note on Friday, May 1st. TheStreet lowered Alamo Group from a “b-” rating to a “c+” rating in a research note on Wednesday, April 15th. Sidoti dropped their price target on Alamo Group from $145.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, March 31st. Finally, Zacks Investment Research downgraded Alamo Group from a “hold” rating to a “sell” rating in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $111.50.

Shares of ALG stock opened at $113.82 on Monday. Alamo Group has a fifty-two week low of $70.99 and a fifty-two week high of $132.96. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 2.29 and a beta of 0.96. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.15 and a current ratio of 3.83. The stock’s 50-day simple moving average is $96.33 and its 200-day simple moving average is $109.28.

Alamo Group (NYSE:ALG) last issued its quarterly earnings results on Wednesday, May 6th. The industrial products company reported $1.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.08. Alamo Group had a return on equity of 12.38% and a net margin of 5.39%. The business had revenue of $314.45 million for the quarter. As a group, equities analysts forecast that Alamo Group will post 4.97 earnings per share for the current year.

In other Alamo Group news, CFO Dan Edward Malone sold 455 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $109.89, for a total value of $49,999.95. Following the completion of the transaction, the chief financial officer now directly owns 17,668 shares of the company’s stock, valued at $1,941,536.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Richard Hodges Raborn sold 379 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $99.41, for a total value of $37,676.39. Following the completion of the transaction, the executive vice president now directly owns 7,827 shares of the company’s stock, valued at $778,082.07. The disclosure for this sale can be found here. Insiders have sold 1,784 shares of company stock valued at $187,569 in the last ninety days. Corporate insiders own 3.07% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Amalgamated Bank lifted its holdings in Alamo Group by 4.6% in the fourth quarter. Amalgamated Bank now owns 1,863 shares of the industrial products company’s stock valued at $234,000 after acquiring an additional 82 shares during the period. Mason Street Advisors LLC lifted its holdings in Alamo Group by 2.6% in the fourth quarter. Mason Street Advisors LLC now owns 3,378 shares of the industrial products company’s stock valued at $424,000 after acquiring an additional 87 shares during the period. North Star Investment Management Corp. lifted its holdings in Alamo Group by 0.9% in the first quarter. North Star Investment Management Corp. now owns 22,920 shares of the industrial products company’s stock valued at $2,035,000 after acquiring an additional 200 shares during the period. Swiss National Bank lifted its holdings in Alamo Group by 1.6% in the first quarter. Swiss National Bank now owns 19,500 shares of the industrial products company’s stock valued at $1,731,000 after acquiring an additional 300 shares during the period. Finally, Prudential Financial Inc. lifted its holdings in Alamo Group by 2.0% in the fourth quarter. Prudential Financial Inc. now owns 15,832 shares of the industrial products company’s stock valued at $1,988,000 after acquiring an additional 303 shares during the period. 94.15% of the stock is owned by institutional investors.

About Alamo Group

Alamo Group Inc designs, manufactures, distributes, and services agricultural and infrastructure maintenance equipment for governmental and industrial use worldwide. The company offers hydraulically-powered and tractor-mounted mowers, including boom-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.

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