Alamo Group (NYSE:ALG – Get Rating) had its target price increased by equities research analysts at DA Davidson to $136.00 in a research note issued to investors on Tuesday, Stock Target Advisor reports. DA Davidson's target price suggests a potential upside of 1.41% from the company's current price. DA Davidson also issued estimates for Alamo Group's Q3 2022 earnings at $2.48 EPS and FY2023 earnings at $9.83 EPS.
Several other equities research analysts also recently weighed in on ALG. StockNews.com raised shares of Alamo Group from a "hold" rating to a "buy" rating in a research report on Friday. TheStreet cut shares of Alamo Group from a "b-" rating to a "c+" rating in a research note on Thursday, May 19th.
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Alamo Group Stock Performance
Shares of ALG stock traded down $0.07 during trading on Tuesday, hitting $134.11. The company's stock had a trading volume of 327 shares, compared to its average volume of 32,915. The company has a market cap of $1.61 billion, a PE ratio of 19.19 and a beta of 0.99. The business has a fifty day moving average of $119.08 and a 200-day moving average of $129.21. Alamo Group has a 52 week low of $108.35 and a 52 week high of $160.71. The company has a current ratio of 3.95, a quick ratio of 2.09 and a debt-to-equity ratio of 0.48.
Alamo Group (NYSE:ALG – Get Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The industrial products company reported $2.39 EPS for the quarter, topping the consensus estimate of $2.06 by $0.33. Alamo Group had a net
margin of 5.84% and a return on equity of 12.03%. During the same period last year, the firm earned $1.97 earnings per share. As a group, research analysts anticipate that Alamo Group will post 8.13 earnings per share for the current year.
Insider Transactions at Alamo Group
In related news, Director Robert P. Bauer purchased 500 shares of the business's stock in a transaction dated Wednesday, June 15th. The stock was acquired at an average price of $113.99 per share, for a total transaction of $56,995.00. Following the acquisition, the director now directly owns 7,561 shares of the company's stock, valued at approximately $861,878.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.30% of the company's stock.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the business. Yousif Capital Management LLC bought a new position in Alamo Group in the 4th quarter worth approximately $1,345,000. Royce & Associates LP boosted its stake in Alamo Group by 9.7% during the 4th quarter. Royce & Associates LP now owns 13,741 shares of the industrial products company's stock valued at $2,022,000 after purchasing an additional 1,214 shares in the last quarter. Northern Trust Corp boosted its stake in Alamo Group by 0.4% during the 4th quarter. Northern Trust Corp now owns 216,068 shares of the industrial products company's stock valued at $31,801,000 after purchasing an additional 940 shares in the last quarter. Intercontinental Wealth Advisors LLC bought a new position in Alamo Group during the 4th quarter valued at $200,000. Finally, ProShare Advisors LLC boosted its stake in Alamo Group by 62.5% during the 4th quarter. ProShare Advisors LLC now owns 2,484 shares of the industrial products company's stock valued at $367,000 after purchasing an additional 955 shares in the last quarter. Institutional investors and hedge funds own 91.33% of the company's stock.
About Alamo Group
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Alamo Group Inc designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. Its Vegetation Management Division segment offers hydraulically-powered and tractor-mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty applications, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.
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