Alamo Group (NYSE:ALG) Lowered to “Hold” Rating by Baird R W

Alamo Group (NYSE:ALG) was downgraded by equities research analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Friday,Zacks.com reports.

Other analysts have also recently issued reports about the stock. Robert W. Baird cut shares of Alamo Group from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $224.00 to $177.00 in a research note on Friday. StockNews.com raised shares of Alamo Group from a “hold” rating to a “buy” rating in a research note on Tuesday.

Alamo Group Price Performance

Shares of Alamo Group stock opened at $175.02 on Friday. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 17.63 and a beta of 1.10. Alamo Group has a 1-year low of $163.74 and a 1-year high of $228.88. The firm’s 50-day moving average price is $183.83 and its two-hundred day moving average price is $183.94.

Alamo Group (NYSE:ALG) last issued its quarterly earnings data on Thursday, February 27th. The industrial products company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.16. The firm had revenue of $385.32 million for the quarter, compared to analysts’ expectations of $396.85 million. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. On average, equities analysts predict that Alamo Group will post 9.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Alamo Group

In other Alamo Group news, VP Janet S. Pollock sold 257 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 3,360 shares of the company’s stock, valued at approximately $649,857.60. This trade represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Alamo Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC boosted its stake in Alamo Group by 700.0% in the third quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 154 shares during the last quarter. JNBA Financial Advisors acquired a new stake in Alamo Group in the third quarter worth $37,000. Smartleaf Asset Management LLC raised its holdings in Alamo Group by 442.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 168 shares during the period. Lazard Asset Management LLC acquired a new stake in Alamo Group in the fourth quarter worth $79,000. Finally, KBC Group NV raised its holdings in Alamo Group by 57.1% in the fourth quarter. KBC Group NV now owns 520 shares of the industrial products company’s stock worth $97,000 after purchasing an additional 189 shares during the period. 92.36% of the stock is 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.