Alamo Group (NYSE:ALG – Get Rating) was upgraded by equities research analysts at DA Davidson from a "neutral" rating to a "buy" rating in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage presently has a $196.00 price target on the industrial products company's stock, up from their prior price target of $173.00. DA Davidson's price objective suggests a potential upside of 13.17% from the stock's previous close.
Separately, StockNews.com assumed coverage on Alamo Group in a research report on Thursday. They issued a "buy" rating for the company.
Get Alamo Group alerts:Alamo Group Stock Performance
NYSE:ALG opened at $173.19 on Thursday. The stock has a market cap of $2.07 billion, a P/E ratio of 20.28 and a beta of 0.98. The firm's fifty day simple moving average is $163.14 and its 200 day simple moving average is $148.18. Alamo Group has a twelve month low of $108.35 and a twelve month high of $186.37. The company has a quick ratio of 1.97, a current ratio of 3.82 and a debt-to-equity ratio of 0.37.
Insider Activity
In related news, VP Janet S. Pollock sold 150 shares of the business's stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $180.40, for a total transaction of $27,060.00. Following the completion of the transaction, the vice president now directly owns 2,606 shares in the company, valued at approximately $470,122.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, VP Janet S. Pollock sold 150 shares of the business's stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $180.40, for a total transaction of $27,060.00. Following the completion of the transaction, the vice president now directly owns 2,606 shares in the company, valued at approximately $470,122.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Edward Rizzuti sold 394 shares of the business's stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $184.21, for a total value of $72,578.74. Following the transaction, the executive vice president now owns 5,433 shares of the company's stock, valued at $1,000,812.93. The disclosure for this sale can be found here. Insiders own 2.30% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in ALG. Morgan Stanley boosted its stake in Alamo Group by 277.8% in the 4th quarter. Morgan Stanley now owns 278,133 shares of the industrial products company's stock worth $39,384,000 after purchasing an additional 204,507 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in Alamo Group by 8.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 678,420 shares of the industrial products company's stock worth $96,065,000 after purchasing an additional 53,730 shares during the period. Goldman Sachs Group Inc. boosted its stake in Alamo Group by 317.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 59,710 shares of the industrial products company's stock worth $6,952,000 after purchasing an additional 45,416 shares during the period. Strs Ohio bought a new position in Alamo Group in the 4th quarter worth approximately $5,479,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Alamo Group by 4.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 864,063 shares of the industrial products company's stock worth $100,603,000 after purchasing an additional 36,290 shares during the period. 91.67% of the stock is currently owned by institutional investors.
About Alamo Group
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Alamo Group, Inc engages in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. Its products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, zero turn radius mowers, agricultural implements, and related aftermarket parts.
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