Alto Ingredients (NASDAQ:ALTO) Announces Earnings Results, Beats Expectations By $0.01 EPS

Posted by Patrick Bannon on May 8th, 2024

Alto Ingredients (NASDAQ:ALTO – Get Free Report) issued its quarterly earnings results on Monday. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01, Zacks reports. The business had revenue of $240.63 million for the quarter, compared to analyst estimates of $199.56 million. Alto Ingredients had a negative return on equity of 7.32% and a negative net margin of 2.29%. During the same period last year, the company posted ($0.17) earnings per share.

Alto Ingredients Stock Performance

Shares of ALTO traded up $0.01 during mid-day trading on Wednesday, hitting $1.77. The stock had a trading volume of 166,935 shares, compared to its average volume of 630,723. The firm has a market cap of $133.99 million, a P/E ratio of -4.51 and a beta of 1.92. The business has a fifty day moving average price of $2.04 and a 200-day moving average price of $2.37. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.59 and a quick ratio of 1.78. Alto Ingredients has a 52 week low of $1.53 and a 52 week high of $4.98.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and set a $5.50 price target on shares of Alto Ingredients in a report on Tuesday.

Read Our Latest Stock Analysis on ALTO

About Alto Ingredients

(Get Free Report)

Alto Ingredients, Inc produces, distributes, and markets specialty alcohols, renewable fuel, and essential ingredients in the United States. The company operates in three segments: Marketing and Distribution, Pekin Campus Production, and Western Production. It offers specialty alcohols used in mouthwash, cosmetics, pharmaceuticals, hand sanitizers, disinfectants, and cleaners for health, home, and beauty markets; grain neutral spirits used in alcoholic beverages and vinegar, as well as corn germ used in corn oils in the food and beverage markets; alcohols and other products for paint applications and fertilizers in the industrial and agriculture markets; and essential ingredients include dried yeast, corn protein meal, corn protein feed, distiller's grains, and liquid feed for commercial animal feed and pet food applications, as well as yeast for human consumption.