Alamo Group (NYSE:ALG) Lowered to “Neutral” Rating by Robert W. Baird

Alamo Group (NYSE:ALG) was downgraded by equities researchers at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research report issued on Friday,Briefing.com Automated Import reports. They presently have a $177.00 price target on the industrial products company’s stock, down from their previous price target of $224.00. Robert W. Baird’s price target indicates a potential downside of 3.82% from the company’s current price.

Separately, StockNews.com raised shares of Alamo Group from a “hold” rating to a “buy” rating in a research note on Tuesday.

Alamo Group Stock Down 0.5 %

Alamo Group stock opened at $184.04 on Friday. Alamo Group has a 52 week low of $163.74 and a 52 week high of $228.88. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 18.53 and a beta of 1.10. The business’s 50-day moving average price is $184.09 and its 200 day moving average price is $183.91. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21.

Alamo Group (NYSE:ALG) last posted its earnings results on Thursday, February 27th. The industrial products company reported $2.39 earnings per share 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%. As a group, sell-side analysts anticipate that Alamo Group will post 9.53 earnings per share for the current year.

Insider Buying and Selling

In other news, VP Janet S. Pollock sold 257 shares of Alamo Group stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $193.41, for a total value of $49,706.37. Following the sale, the vice president now owns 3,360 shares in the company, valued at $649,857.60. This trade represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ALG. Creative Planning raised its holdings in shares of Alamo Group by 33.2% during the third quarter. Creative Planning now owns 2,004 shares of the industrial products company’s stock valued at $361,000 after acquiring an additional 499 shares during the last quarter. Advantage Alpha Capital Partners LP acquired a new position in Alamo Group in the 3rd quarter valued at $3,014,000. Barclays PLC lifted its holdings in Alamo Group by 204.7% in the 3rd quarter. Barclays PLC now owns 22,417 shares of the industrial products company’s stock valued at $4,039,000 after purchasing an additional 15,061 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Alamo Group by 14.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 76,555 shares of the industrial products company’s stock worth $13,790,000 after purchasing an additional 9,710 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Alamo Group by 2.6% during the third quarter. State Street Corp now owns 391,728 shares of the industrial products company’s stock worth $70,562,000 after buying an additional 10,013 shares in the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

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.