Alamo Group Gets a Buy Rating from Piper Jaffray

By Ryan Adsit

Piper Jaffray analyst Brett Wong reiterated a Buy rating on Alamo Group (NYSE: ALG) on July 11 and set a price target of $90. The company’s shares closed yesterday at $92.68, close to its 52-week high of $94.01.

According to TipRanks.com, Wong is a 3-star analyst with an average return of 2.2% and a 54.7% success rate. Wong covers the Consumer Goods sector, focusing on stocks such as Trimble Navigation Limited, American Vanguard Corp, and Archer Daniels Midland.

Alamo Group has an analyst consensus of Moderate Buy, with a price target consensus of $90.

Alamo Group’s market cap is currently $1.06B and has a P/E ratio of 24.69. The company has a book value ratio of 2.6355.

Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock. Last month, Richard Wehrle, the VP & Corp. Contr of ALG bought 6,000 shares for a total of $68,700.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Alamo Group, Inc. designs and manufactures 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, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket parts and services. The company operates through the following business segments: North American Agricultural, North American Industrial and European. The North American Agricultural segment offers a line of tractor-powered equipment, including rotary cutters, finishing mowers, flail mowers, disc mowers, ZTR ride-on mowers, front-end loaders, backhoes, rotary tillers, posthole diggers, scraper blades and replacement parts. The North American Industrial segment provides tractor- and truck-mounted mowers, as well as trimmers, shredders, sweepers, excavators, vacuum trucks, snow removal equipment and other products designed for excavation, grading, shaping and land clearing, road building or maintenance. The European segment provides hydraulic, boom-mounted hedge and grass cutters, hydraulic backhoes, cultivators, subsoilers, buckets and other digger implements and related replacement parts. Alamo Group was founded in 1969 by Donald J. Douglass and is headquartered in Seguin, TX.