Robert W. Baird Downgrades Alamo Group (NYSE:ALG) to Neutral

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 to clients and investors on Friday,Briefing.com Automated Import reports. They presently have a $177.00 target price on the industrial products company’s stock, down from their prior target price of $224.00. Robert W. Baird’s price target points to 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 Trading Down 0.5 %

Shares of ALG opened at $184.04 on Friday. Alamo Group has a 12-month low of $163.74 and a 12-month high of $228.88. The firm has a market capitalization of $2.22 billion, a P/E ratio of 18.53 and a beta of 1.10. The firm has a 50-day moving average price of $184.09 and a 200 day moving average price of $183.91. The company has a current ratio of 4.15, a quick ratio of 2.39 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 (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.16. Alamo Group had a return on equity of 12.41% and a net margin of 7.19%. Sell-side analysts forecast that Alamo Group will post 9.53 EPS for the current year.

Insider Activity at Alamo Group

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

Institutional Trading of Alamo Group

Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP purchased a new position in Alamo Group in the 3rd quarter valued at approximately $35,759,000. Bank of America Corp DE boosted its holdings in Alamo Group by 826.1% in the fourth quarter. Bank of America Corp DE now owns 130,494 shares of the industrial products company’s stock valued at $24,260,000 after purchasing an additional 116,404 shares during the period. SG Capital Management LLC acquired a new position in Alamo Group during the 4th quarter worth $16,971,000. Ameriprise Financial Inc. increased its holdings in Alamo Group by 338.4% during the 4th quarter. Ameriprise Financial Inc. now owns 115,856 shares of the industrial products company’s stock worth $21,539,000 after purchasing an additional 89,430 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its position in Alamo Group by 279.3% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 55,068 shares of the industrial products company’s stock valued at $10,238,000 after purchasing an additional 40,549 shares in the last quarter. Institutional investors and hedge funds 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.