Stock Worth Mentioning Today: Could Alamo Group, Inc. Change Direction After Reaching 52-Week High?

Stock Worth Mentioning Today: Could Alamo Group, Inc. Change Direction After Reaching 52 Week High?

The stock of Alamo Group, Inc. (NYSE:ALG) hit a new 52-week high and has $104.28 target or 51.00% above today’s $69.06 share price. The 8 months bullish chart indicates low risk for the $805.92M company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $104.28 price target is reached, the company will be worth $411.02M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 30,682 shares traded hands. Alamo Group, Inc. (NYSE:ALG) has risen 21.44% since April 7, 2016 and is uptrending. It has outperformed by 16.66% the S&P500.

Alamo Group, Inc. (NYSE:ALG) Ratings Coverage

Out of 2 analysts covering Alamo Group (NYSE:ALG), 0 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 0 are positive. Alamo Group has been the topic of 2 analyst reports since October 9, 2015 according to StockzIntelligence Inc. The stock of Alamo Group, Inc. (NYSE:ALG) earned “Neutral” rating by Seaport Global Securities on Friday, November 6. The firm has “Underperform” rating by Bank of America given on Friday, October 9.

According to Zacks Investment Research, “Alamo Group Inc. is a leading manufacturer of high quality equipment for right-of-way maintenance and agriculture. Their products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, agricultural implements and related after market parts and services. They emphasize high quality, cost efficient products for their customers and strive to develop and market innovative products while constantly monitoring and containing their manufacturing and overhead costs.”

Insitutional Activity: The institutional sentiment increased to 1.31 in Q2 2016. Its up 0.33, from 0.98 in 2016Q1. The ratio is positive, as 13 funds sold all Alamo Group, Inc. shares owned while 36 reduced positions. 30 funds bought stakes while 34 increased positions. They now own 9.81 million shares or 5.07% less from 10.33 million shares in 2016Q1.
Bnp Paribas Arbitrage has 2,929 shares for 0% of their US portfolio. Third Avenue Ltd Llc last reported 0.3% of its portfolio in the stock. Springbok Mgmt Limited Liability Corporation holds 528 shares or 0% of its portfolio. Dupont Cap Management Corp last reported 0.01% of its portfolio in the stock. Aperio Lc accumulated 5,748 shares or 0% of the stock. Blackrock Fund has 0.01% invested in the company for 623,844 shares. The New York-based Savings Bank Of New York Mellon Corporation has invested 0% in Alamo Group, Inc. (NYSE:ALG). Walleye Trading Ltd Com holds 0% or 100 shares in its portfolio. Teachers Retirement System Of The State Of Kentucky has invested 0% of its portfolio in Alamo Group, Inc. (NYSE:ALG). Alliancebernstein Ltd Partnership holds 0% of its portfolio in Alamo Group, Inc. (NYSE:ALG) for 11,800 shares. Price T Rowe Associates Inc Md has 461,254 shares for 0.01% of their US portfolio. Moreover, Td Asset has 0% invested in Alamo Group, Inc. (NYSE:ALG) for 5,400 shares. Johnson Invest Counsel has invested 0.03% of its portfolio in Alamo Group, Inc. (NYSE:ALG). Barclays Public Limited Co last reported 13,267 shares in the company. Blackrock Gp has 0% invested in the company for 11,198 shares.

Insider Transactions: Since May 24, 2016, the stock had 0 insider buys, and 9 selling transactions for $1.41 million net activity. Shares for $30,521 were sold by Leonard Jeffery Allen. GEORGE ROBERT H had sold 3,000 shares worth $181,200 on Tuesday, May 24. The insider DAVIES GEOFF sold $329,350. WEHRLE RICHARD J sold $126,861 worth of stock. ROBINSON RONALD A had sold 4,000 shares worth $241,160.

More notable recent Alamo Group, Inc. (NYSE:ALG) news were published by: Prnewswire.com which released: “Alamo Group Inc. Announces Third Quarter 2016 Earnings Conference Call” on October 27, 2016, also Prnewswire.com with their article: “Alamo Group Inc. Announces The Appointment Of A New Board Member” published on August 04, 2016, Prnewswire.com published: “Alamo Group Inc. Announces Appointment of Executive Vice President of North …” on March 30, 2015. More interesting news about Alamo Group, Inc. (NYSE:ALG) were released by: Prnewswire.com and their article: “Alamo Group Inc. Announces The Appointment Of Two New Board Members” published on August 06, 2015 as well as Quotes.Wsj.com‘s news article titled: “News Alamo Group Inc.ALG” with publication date: February 11, 2011.

ALG Company Profile

Alamo Group Inc., incorporated on October 22, 1987, is engaged in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. The Firm operates in Industrial, Agricultural and European divisions. The Company’s 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 Firm operates approximately 20 plants in North America, Europe, Australia and Brazil. The Firm sells its products through a network of independent dealers and distributors to Governmental end users, related independent contractors, as well as to the agricultural and commercial turf markets. It also offers replacement parts for each of its wholegoods lines. The Company’s products are sold through various marketing organizations, and dealer and distributor networks under the Alamo Industrial, Terrain King, Tiger, Gradall, VacAll, Schwarze, Nite-Hawk, Henke, Tenco, Super Products, Wausau-Everest, H.P. Fairfield, Bush Hog, Rhino, Earthmaster, Herschel, Valu-Bilt, Schulte, Superior, Fieldquip, McConnel, Bomford, Spearhead, Herder, Twose, Kellands, SMA, Forges Gorce, Faucheux, Rousseau and Rivard trademarks, as well as other trademarks and trade names.

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