Alamo Group (NYSE:ALG) Given New $217.00 Price Target at DA Davidson

Alamo Group (NYSE:ALG) had its price objective dropped by equities researchers at DA Davidson from $219.00 to $217.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. DA Davidson’s target price suggests a potential upside of 24.06% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the company. Baird R W cut Alamo Group from a “strong-buy” rating to a “hold” rating in a research note on Friday. StockNews.com raised shares of Alamo Group from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. Finally, Robert W. Baird cut shares of Alamo Group from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $224.00 to $177.00 in a research note on Friday.

Alamo Group Stock Down 0.0 %

Shares of NYSE:ALG traded down $0.06 during midday trading on Monday, hitting $174.92. 17,288 shares of the company’s stock were exchanged, compared to its average volume of 99,265. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39. Alamo Group has a 12 month low of $163.74 and a 12 month high of $228.88. The company has a market cap of $2.11 billion, a PE ratio of 17.62 and a beta of 1.10. The stock has a 50 day moving average price of $183.83 and a 200-day moving average price of $184.12.

Alamo Group (NYSE:ALG) last announced its earnings results 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 company had revenue of $385.32 million during the quarter, compared to the consensus estimate of $396.85 million. On average, sell-side analysts anticipate that Alamo Group will post 9.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP Janet S. Pollock sold 257 shares of Alamo Group stock in a transaction on Monday, December 16th. The shares were sold at an average price of $193.41, for a total transaction of $49,706.37. Following the completion of the sale, the vice president now directly owns 3,360 shares of the company’s stock, valued at approximately $649,857.60. The trade was a 7.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Alamo Group

Large investors have recently added to or reduced their stakes in the company. Creative Planning increased its position in shares of Alamo Group by 33.2% during the 3rd quarter. Creative Planning now owns 2,004 shares of the industrial products company’s stock valued at $361,000 after purchasing an additional 499 shares during the last quarter. Advantage Alpha Capital Partners LP purchased a new position in shares of Alamo Group during the third quarter worth approximately $3,014,000. Barclays PLC raised its stake in shares of Alamo Group by 204.7% during the third quarter. Barclays PLC now owns 22,417 shares of the industrial products company’s stock worth $4,039,000 after acquiring an additional 15,061 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of 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 acquiring an additional 9,710 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Alamo Group by 2.6% in the 3rd quarter. State Street Corp now owns 391,728 shares of the industrial products company’s stock valued at $70,562,000 after purchasing an additional 10,013 shares in the last quarter. 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.