DA Davidson Increases Alamo Group (NYSE:ALG) Price Target to $219.00

Alamo Group (NYSE:ALG) had its target price upped by stock analysts at DA Davidson from $209.00 to $219.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. DA Davidson’s price target would suggest a potential upside of 18.83% from the company’s previous close.

Other equities analysts have also issued reports about the stock. StockNews.com lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Robert W. Baird decreased their target price on shares of Alamo Group from $223.00 to $217.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd.

Alamo Group Stock Performance

Shares of ALG opened at $184.30 on Wednesday. Alamo Group has a 12 month low of $157.74 and a 12 month high of $231.40. The firm has a fifty day simple moving average of $177.46 and a 200 day simple moving average of $193.49. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 16.40 and a beta of 1.04. The company has a current ratio of 4.37, a quick ratio of 2.49 and a debt-to-equity ratio of 0.28.

Alamo Group (NYSE:ALG) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.35 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.44). The firm had revenue of $416.30 million during the quarter. Alamo Group had a net margin of 7.56% and a return on equity of 13.51%. During the same period in the prior year, the company posted $3.03 EPS. Research analysts forecast that Alamo Group will post 12.3 EPS for the current fiscal year.

Insider Buying and Selling at Alamo Group

In other Alamo Group news, EVP Edward Rizzuti sold 322 shares of Alamo Group stock in a transaction on Monday, August 19th. The shares were sold at an average price of $178.29, for a total transaction of $57,409.38. Following the transaction, the executive vice president now directly owns 7,765 shares of the company’s stock, valued at approximately $1,384,421.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alamo Group news, EVP Richard Hodges Raborn sold 300 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total transaction of $54,384.00. Following the sale, the executive vice president now directly owns 11,061 shares of the company’s stock, valued at $2,005,138.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Edward Rizzuti sold 322 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $178.29, for a total transaction of $57,409.38. Following the sale, the executive vice president now directly owns 7,765 shares in the company, valued at $1,384,421.85. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alamo Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Contravisory Investment Management Inc. increased its position in shares of Alamo Group by 73.4% during the first quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock valued at $25,000 after buying an additional 47 shares during the period. Quest Partners LLC bought a new stake in shares of Alamo Group during the fourth quarter valued at about $52,000. First Horizon Advisors Inc. increased its position in shares of Alamo Group by 174.7% during the second quarter. First Horizon Advisors Inc. now owns 250 shares of the industrial products company’s stock valued at $43,000 after buying an additional 159 shares during the period. Quarry LP bought a new stake in shares of Alamo Group during the second quarter valued at about $48,000. Finally, Bessemer Group Inc. increased its position in shares of Alamo Group by 1,885.7% during the first quarter. Bessemer Group Inc. now owns 278 shares of the industrial products company’s stock valued at $63,000 after buying an additional 264 shares during the period. 92.36% of the stock is currently owned by institutional investors.

Alamo Group Company Profile

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.