StockNews.com Upgrades Alamo Group (NYSE:ALG) to “Buy”

Alamo Group (NYSE:ALG) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

Separately, Robert W. Baird boosted their price target on Alamo Group from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, November 4th.

Alamo Group Trading Up 0.4 %

Alamo Group stock traded up $0.74 during trading hours on Tuesday, reaching $186.47. The stock had a trading volume of 82,801 shares, compared to its average volume of 96,589. The company has a fifty day simple moving average of $184.75 and a 200-day simple moving average of $183.80. Alamo Group has a 52 week low of $163.74 and a 52 week high of $228.88. The stock has a market cap of $2.25 billion, a PE ratio of 18.78 and a beta of 1.10. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39.

Insider Activity

In other news, VP Janet S. Pollock sold 257 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $193.41, for a total value of $49,706.37. Following the completion of the transaction, the vice president now owns 3,360 shares of the company’s stock, valued at approximately $649,857.60. This represents a 7.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Alamo Group

Several hedge funds have recently made changes to their positions in ALG. Nisa Investment Advisors LLC raised its holdings in Alamo Group by 700.0% in the third quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 154 shares in the last quarter. JNBA Financial Advisors bought a new position in shares of Alamo Group in the 3rd quarter worth about $37,000. Smartleaf Asset Management LLC increased its stake in shares of Alamo Group by 442.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 168 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Alamo Group during the 4th quarter valued at about $79,000. Finally, KBC Group NV boosted its stake in Alamo Group by 57.1% during the fourth quarter. KBC Group NV now owns 520 shares of the industrial products company’s stock worth $97,000 after acquiring an additional 189 shares in the last quarter. 92.36% of the stock is currently owned by 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.