Alamo Group (NYSE:ALG) Cut to Hold at StockNews.com

Alamo Group (NYSE:ALG) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Several other equities analysts have also commented on the stock. Robert W. Baird lowered shares of Alamo Group from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $224.00 to $177.00 in a research report on Friday, February 28th. DA Davidson lowered their price objective on shares of Alamo Group from $219.00 to $217.00 and set a “buy” rating for the company in a research report on Monday. Finally, Baird R W downgraded shares of Alamo Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 28th.

Alamo Group Price Performance

ALG stock opened at $174.74 on Wednesday. Alamo Group has a 52 week low of $163.74 and a 52 week high of $228.88. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21. The company has a fifty day simple moving average of $183.36 and a two-hundred day simple moving average of $184.11. The firm has a market capitalization of $2.11 billion, a P/E ratio of 17.60 and a beta of 1.10.

Alamo Group (NYSE:ALG) last released its quarterly earnings data on Thursday, February 27th. The industrial products company reported $2.39 EPS for the quarter, beating the consensus estimate of $2.23 by $0.16. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. The business had revenue of $385.32 million during the quarter, compared to analyst estimates of $396.85 million. Analysts anticipate that Alamo Group will post 9.53 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Janet S. Pollock sold 257 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $193.41, for a total value of $49,706.37. Following the sale, the vice president now owns 3,360 shares of the company’s stock, valued at approximately $649,857.60. This represents a 7.11 % 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. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Alamo Group

Several hedge funds and other institutional investors have recently made changes to their positions in ALG. Creative Planning increased its stake in Alamo Group by 33.2% in the 3rd quarter. Creative Planning now owns 2,004 shares of the industrial products company’s stock worth $361,000 after buying an additional 499 shares during the period. Advantage Alpha Capital Partners LP purchased a new position in Alamo Group in the 3rd quarter worth about $3,014,000. Barclays PLC increased its stake in Alamo Group by 204.7% in the 3rd quarter. Barclays PLC now owns 22,417 shares of the industrial products company’s stock worth $4,039,000 after buying an additional 15,061 shares during the period. JPMorgan Chase & Co. increased its stake in Alamo Group by 14.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 76,555 shares of the industrial products company’s stock worth $13,790,000 after buying an additional 9,710 shares during the period. Finally, State Street Corp increased its stake in Alamo Group by 2.6% in the 3rd quarter. State Street Corp now owns 391,728 shares of the industrial products company’s stock worth $70,562,000 after buying an additional 10,013 shares during the period. Hedge funds and other institutional investors own 92.36% of the company’s stock.

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.