DA Davidson Has Lowered Expectations for Alamo Group (NYSE:ALG) Stock Price

Alamo Group (NYSE:ALG) had its price target decreased by stock analysts at DA Davidson from $225.00 to $190.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. DA Davidson’s target price points to a potential upside of 14.70% from the stock’s current price.

A number of other equities research analysts have also weighed in on the company. Baird R W raised Alamo Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 4th. Weiss Ratings lowered Alamo Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Wall Street Zen downgraded shares of Alamo Group from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Robert W. Baird raised shares of Alamo Group from a “neutral” rating to an “outperform” rating and increased their price target for the company from $209.00 to $260.00 in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $222.33.

Alamo Group Stock Performance

Alamo Group stock traded up $0.24 during mid-day trading on Tuesday, reaching $165.65. The company’s stock had a trading volume of 38,352 shares, compared to its average volume of 104,650. The company has a market capitalization of $2.01 billion, a P/E ratio of 16.87, a PEG ratio of 0.94 and a beta of 1.13. The firm’s fifty day moving average price is $190.71 and its two-hundred day moving average price is $203.12. Alamo Group has a 12-month low of $157.07 and a 12-month high of $233.29. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.76 and a current ratio of 4.56.

Alamo Group (NYSE:ALG) last announced its earnings results on Thursday, November 6th. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.61 by ($0.27). Alamo Group had a return on equity of 11.45% and a net margin of 7.41%.The company had revenue of $420.04 million during the quarter, compared to analysts’ expectations of $407.55 million. Sell-side analysts predict that Alamo Group will post 9.53 EPS for the current fiscal year.

Insider Activity

In other news, CEO Jeffery Allen Leonard sold 2,500 shares of Alamo Group stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $222.19, for a total transaction of $555,475.00. Following the sale, the chief executive officer owned 38,413 shares in the company, valued at $8,534,984.47. This trade represents a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.18% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Wasatch Advisors LP bought a new position in Alamo Group during the 2nd quarter valued at about $51,427,000. Ninepoint Partners LP purchased a new position in shares of Alamo Group during the first quarter valued at approximately $40,988,000. American Century Companies Inc. grew its stake in shares of Alamo Group by 201.6% during the second quarter. American Century Companies Inc. now owns 153,720 shares of the industrial products company’s stock valued at $33,569,000 after buying an additional 102,751 shares during the last quarter. Tributary Capital Management LLC raised its holdings in shares of Alamo Group by 92.5% in the third quarter. Tributary Capital Management LLC now owns 203,742 shares of the industrial products company’s stock worth $38,895,000 after buying an additional 97,898 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Alamo Group during the 2nd quarter worth approximately $19,117,000. 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.