Alamo Group (NYSE:ALG) Price Target Lowered to $209.00 at DA Davidson

Alamo Group (NYSE:ALG) had its target price lowered by DA Davidson from $225.00 to $209.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock. DA Davidson also issued estimates for Alamo Group’s Q3 2024 earnings at $2.60 EPS, FY2024 earnings at $10.23 EPS and FY2025 earnings at $12.64 EPS.

Several other equities research analysts also recently weighed in on the stock. Robert W. Baird reduced their price objective on shares of Alamo Group from $223.00 to $217.00 and set an outperform rating for the company in a report on Friday, August 2nd. StockNews.com lowered shares of Alamo Group from a buy rating to a hold rating in a research note on Wednesday, July 17th.

Alamo Group Price Performance

ALG stock opened at $174.88 on Monday. Alamo Group has a 52-week low of $157.74 and a 52-week high of $231.40. The company has a quick ratio of 2.49, a current ratio of 4.37 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $2.11 billion, a PE ratio of 15.56 and a beta of 1.04. The stock’s 50 day moving average is $178.77 and its two-hundred day moving average is $197.39.

Alamo Group (NYSE:ALG) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.35 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.44). The firm had revenue of $416.30 million for the quarter. Alamo Group had a return on equity of 13.51% and a net margin of 7.56%. During the same period in the prior year, the company earned $3.03 EPS. Analysts predict that Alamo Group will post 12.3 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Tuesday, July 16th were issued a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, July 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.59%. Alamo Group’s dividend payout ratio is 9.25%.

Hedge Funds Weigh In On Alamo Group

Hedge funds have recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. increased its holdings in Alamo Group by 73.4% in the first quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock worth $25,000 after buying an additional 47 shares during the last quarter. Quest Partners LLC acquired a new position in Alamo Group during the fourth quarter valued at approximately $52,000. First Horizon Advisors Inc. grew its holdings in Alamo Group by 174.7% during the second quarter. First Horizon Advisors Inc. now owns 250 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 159 shares during the last quarter. Bessemer Group Inc. grew its holdings in Alamo Group by 1,885.7% during the first quarter. Bessemer Group Inc. now owns 278 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 264 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of Alamo Group in the second quarter valued at approximately $52,000. Institutional investors and hedge funds own 92.36% of the company’s stock.

About Alamo Group

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.