Alamo Group, Inc. (NYSE:ALG) Stock Has Consensus Price Target of $188.00

Alamo Group, Inc. (NYSE:ALG) has earned an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $188.00.

A number of equities analysts have weighed in on the stock. DA Davidson reiterated a “neutral” rating and issued a $188.00 price target on shares of Alamo Group in a report on Wednesday, July 1st. Weiss Ratings lowered Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, October 2nd.

Alamo Group Stock Performance

Alamo Group stock opened at $155.20 on Tuesday. The stock has a fifty day moving average price of $164.77 and a 200 day moving average price of $163.29. Alamo Group has a 52 week low of $145.76 and a 52 week high of $219.88. The firm has a market capitalization of $1.89 billion, a P/E ratio of 18.61, a PEG ratio of 0.93 and a beta of 1.08. The company has a current ratio of 4.39, a quick ratio of 2.48 and a debt-to-equity ratio of 0.22.

Alamo Group (NYSE:ALG) last issued its quarterly earnings results on Monday, August 3rd. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.74 by $0.08. Alamo Group had a return on equity of 9.83% and a net margin of 6.08%.The firm had revenue of $450.73 million for the quarter, compared to analyst estimates of $437.48 million. Equities research analysts anticipate that Alamo Group will post 10.52 earnings per share for the current year.

Alamo Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Thursday, October 15th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Thursday, October 15th. Alamo Group’s dividend payout ratio (DPR) is 16.31%.

Insider Buying and Selling at Alamo Group

In related news, EVP Edward Rizzuti sold 2,715 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $164.41, for a total value of $446,373.15. Following the transaction, the executive vice president owned 8,142 shares in the company, valued at approximately $1,338,626.22. This trade represents a 25.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alamo Group

Institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC purchased a new position in Alamo Group in the second quarter valued at about $25,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Alamo Group during the 2nd quarter valued at about $25,000. GAMMA Investing LLC raised its holdings in shares of Alamo Group by 183.3% during the 3rd quarter. GAMMA Investing LLC now owns 170 shares of the industrial products company’s stock valued at $26,000 after buying an additional 110 shares during the period. Global Retirement Partners LLC acquired a new position in Alamo Group during the 2nd quarter worth approximately $35,000. Finally, Nykredit A S acquired a new position in Alamo Group during the 2nd quarter worth approximately $99,000. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

About Alamo Group

Alamo Group Inc (NYSE: ALG) is an industrial equipment manufacturer that designs, produces and services equipment used in vegetation management, infrastructure maintenance and agricultural applications. The company serves municipalities, government agencies, contractors, utility companies, agricultural operators and other commercial customers.

Its product portfolio includes mowing and brush-cutting equipment, roadside and right-of-way maintenance machinery, tree-care equipment, excavators, street sweepers, snow-removal equipment and agricultural implements.