How Analysts Feel About Alamo Group Inc. (ALG) After Forming Bullish Double Top Chart Pattern?

February 14, 2018 - By Migdalia James

Investors sentiment decreased to 1.14 in 2017 Q3. Its down 0.44, from 1.58 in 2017Q2. It dropped, as 17 investors sold Alamo Group Inc. shares while 42 reduced holdings. 22 funds opened positions while 45 raised stakes. 10.66 million shares or 2.70% more from 10.38 million shares in 2017Q2 were reported.
Tiaa Cref Llc reported 54,019 shares. Qs Ltd Co holds 0.01% in Alamo Group Inc. (NYSE:ALG) or 8,387 shares. Rice Hall James & Assoc Ltd Com has 0.15% invested in Alamo Group Inc. (NYSE:ALG) for 31,186 shares. Tower Research Cap Ltd Liability Co (Trc) reported 1,121 shares or 0.01% of all its holdings. Harvest Strategies Lc owns 20,000 shares for 0.41% of their portfolio. Zacks Invest Mgmt invested 0.06% in Alamo Group Inc. (NYSE:ALG). Swiss Fincl Bank owns 16,000 shares. Wells Fargo & Company Mn holds 0% of its portfolio in Alamo Group Inc. (NYSE:ALG) for 16,936 shares. Schwab Charles Investment Management Inc holds 0.01% or 53,528 shares. Bogle Invest Mngmt L P De reported 0.1% in Alamo Group Inc. (NYSE:ALG). D E Shaw And Co stated it has 0% of its portfolio in Alamo Group Inc. (NYSE:ALG). Envestnet Asset Management Incorporated has invested 0% in Alamo Group Inc. (NYSE:ALG). 46,415 are held by Martingale Asset Mngmt Limited Partnership. Arrowstreet Partnership reported 7,285 shares stake. Origin Asset Mngmt Llp accumulated 4,609 shares or 0.03% of the stock.

Since September 1, 2017, it had 0 insider buys, and 2 insider sales for $426,206 activity. 364 shares were sold by Raborn Richard Hodges, worth $33,558.

The chart of Alamo Group Inc. (ALG) shows a double top with $115.35 target or 5.00 % above today’s $109.86 share price. The 6 months chart pattern indicates low risk for the $1.28B company. It was reported on Feb, 14 by Finviz.com. If the $115.35 price target is reached, the company will be worth $63.90 million more. Double tops are rare but powerful chart patterns.

The stock decreased 0.40% or $0.44 during the last trading session, reaching $109.86. About 53,680 shares traded. Alamo Group Inc. (NYSE:ALG) has risen 46.10% since February 14, 2017 and is uptrending. It has outperformed by 29.40% the S&P500.

Analysts await Alamo Group Inc. (NYSE:ALG) to report earnings on March, 6. They expect $0.98 EPS, up 20.99 % or $0.17 from last year’s $0.81 per share. ALG’s profit will be $11.40 million for 28.03 P/E if the $0.98 EPS becomes a reality. After $1.40 actual EPS reported by Alamo Group Inc. for the previous quarter, Wall Street now forecasts -30.00 % negative EPS growth.

Alamo Group Inc. (NYSE:ALG) Ratings Coverage

Among 4 analysts covering Alamo Group (NYSE:ALG), 1 have Buy rating, 1 Sell and 2 Hold. Therefore 25% are positive. Alamo Group had 6 analyst reports since October 9, 2015 according to SRatingsIntel. Piper Jaffray maintained it with “Buy” rating and $104.0 target in Friday, August 25 report. Seaport Global Securities downgraded the shares of ALG in report on Friday, November 6 to “Neutral” rating. On Monday, July 24 the stock rating was maintained by Piper Jaffray with “Buy”. Bank of America downgraded Alamo Group Inc. (NYSE:ALG) on Friday, October 9 to “Underperform” rating. The firm earned “Hold” rating on Thursday, January 18 by Seaport Global. Piper Jaffray maintained Alamo Group Inc. (NYSE:ALG) rating on Friday, September 29. Piper Jaffray has “Buy” rating and $104.0 target.

More notable recent Alamo Group Inc. (NYSE:ALG) news were published by: Bizjournals.com which released: “Alamo Group reports record profit following three acquisitions (slideshow)” on November 03, 2017, also Nasdaq.com with their article: “Alamo Group, Inc. (ALG) Ex-Dividend Date Scheduled for January 12, 2018” published on January 11, 2018, Prnewswire.com published: “Alamo Group Inc. Completes Acquistion Of Old Dominion Brush Company, Inc.” on June 26, 2017. More interesting news about Alamo Group Inc. (NYSE:ALG) were released by: Bizjournals.com and their article: “Alamo Group stock soars to record highs” published on November 03, 2017 as well as Prnewswire.com‘s news article titled: “Alamo Group Inc. Completes Acquisition of Santa Izabel Agro Industria Ltda. in …” with publication date: June 06, 2017.

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