Alamo Group (NYSE:ALG) Price Target Cut to $225.00

Alamo Group (NYSE:ALG) had its price objective lowered by investment analysts at DA Davidson from $235.00 to $225.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. DA Davidson’s target price would indicate a potential upside of 15.99% from the stock’s current price. DA Davidson also issued estimates for Alamo Group’s Q2 2024 earnings at $2.79 EPS, FY2024 earnings at $12.30 EPS and FY2025 earnings at $13.53 EPS.

Separately, StockNews.com lowered Alamo Group from a “buy” rating to a “hold” rating in a report on Monday.

Alamo Group Stock Performance

Shares of ALG opened at $193.99 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.49 and a current ratio of 4.29. The stock has a 50 day moving average price of $207.88 and a two-hundred day moving average price of $200.97. The firm has a market capitalization of $2.34 billion, a P/E ratio of 17.26 and a beta of 1.07. Alamo Group has a 52 week low of $157.74 and a 52 week high of $231.40.

Alamo Group (NYSE:ALG) last issued its quarterly earnings data on Friday, May 3rd. The industrial products company reported $2.67 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.01. The firm had revenue of $425.59 million during the quarter. Alamo Group had a return on equity of 14.82% and a net margin of 7.92%. During the same period in the prior year, the firm posted $2.79 earnings per share. Equities analysts forecast that Alamo Group will post 13.17 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Michael A. Haberman sold 418 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $223.87, for a total value of $93,577.66. Following the completion of the transaction, the executive vice president now directly owns 19,206 shares of the company’s stock, valued at $4,299,647.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alamo Group

Several institutional investors have recently bought and sold shares of ALG. Contravisory Investment Management Inc. lifted its stake in Alamo Group by 73.4% in the first quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 47 shares during the last quarter. Quest Partners LLC purchased a new position in Alamo Group in the fourth quarter valued at approximately $52,000. Duncker Streett & Co. Inc. purchased a new stake in shares of Alamo Group during the first quarter worth $82,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Alamo Group during the fourth quarter worth $208,000. Finally, FCA Corp TX purchased a new stake in shares of Alamo Group during the fourth quarter worth $210,000. Hedge funds and other institutional investors own 92.36% of the company’s stock.

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.