Price Action Alert: Could Alamo Group, Inc. Go Down After Touching Record High?

Price Action Alert: Could Alamo Group, Inc. Go Down After Touching Record High?

The stock of Alamo Group, Inc. (NYSE:ALG) reached all time high today, Nov, 24 and still has $80.16 target or 7.00% above today’s $74.92 share price. This indicates more upside for the $868.63 million company. This technical setup was reported by Barchart.com. If the $80.16 PT is reached, the company will be worth $60.80 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock increased 1.74% or $1.28 on November 23, hitting $74.92. About 56,832 shares traded hands or 13.64% up from the average. Alamo Group, Inc. (NYSE:ALG) has risen 31.53% since April 22, 2016 and is uptrending. It has outperformed by 26.12% the S&P500.

Analysts await Alamo Group, Inc. (NYSE:ALG) to report earnings on March, 2. They expect $0.92 earnings per share, down 3.16% or $0.03 from last year’s $0.95 per share. ALG’s profit will be $10.67 million for 20.36 P/E if the $0.92 EPS becomes a reality. After $1.14 actual earnings per share reported by Alamo Group, Inc. for the previous quarter, Wall Street now forecasts -19.30% negative EPS growth.

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. As per Friday, October 9, the company rating was downgraded by Bank of America. The stock has “Neutral” rating given by Seaport Global Securities on Friday, November 6.

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 1.49 in 2016 Q2. Its up 0.18, from 1.31 in 2016Q1. The ratio improved, 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.
Swiss Retail Bank owns 15,300 shares or 0% of their US portfolio. Legal General Grp Public Limited Company accumulated 1,469 shares or 0% of the stock. Jnba Fincl Advsr accumulated 100 shares or 0% of the stock. Deutsche Natl Bank Ag has 32,943 shares for 0% of their US portfolio. Aqr Cap Mngmt Limited Com accumulated 0% or 35,017 shares. The California-based Blackrock Institutional Trust Na has invested 0% in Alamo Group, Inc. (NYSE:ALG). First Trust Advisors L P last reported 0% of its portfolio in the stock. Alexandria Cap Limited Liability last reported 1,050 shares in the company. State Of Tennessee Treasury Department owns 7,477 shares or 0% of their US portfolio. Thomas White Ltd holds 0% or 65 shares in its portfolio. Keybank Natl Association Oh last reported 18,300 shares in the company. Texas Permanent School Fund last reported 7,173 shares in the company. Moreover, Goldman Sachs Group has 0% invested in Alamo Group, Inc. (NYSE:ALG) for 4,565 shares. The Illinois-based Ubs Asset Americas has invested 0% in Alamo Group, Inc. (NYSE:ALG). Zpr Investment Management has invested 1.86% of its portfolio in Alamo Group, Inc. (NYSE:ALG).

Insider Transactions: Since May 25, 2016, the stock had 0 insider buys, and 7 sales for $1.22 million net activity. On Wednesday, May 25 the insider WEHRLE RICHARD J sold $126,861. Leonard Jeffery Allen had sold 2,000 shares worth $126,068. DAVIES GEOFF sold $365,000 worth of stock. $25,600 worth of Alamo Group, Inc. (NYSE:ALG) was sold by GEORGE ROBERT H. On Thursday, May 26 the insider ROBINSON RONALD A sold $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 Announces 2016 Third Quarter Results” published on November 03, 2016, Prnewswire.com published: “Alamo Group Inc. Announces The Appointment Of A New Board Member” on August 04, 2016. More interesting news about Alamo Group, Inc. (NYSE:ALG) were released by: Quotes.Wsj.com and their article: “News Alamo Group Inc.ALG” published on February 11, 2011 as well as Prnewswire.com‘s news article titled: “Alamo Group Inc. Announces The Appointment Of Two New Board Members” with publication date: August 06, 2015.

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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