DA Davidson Reiterates Neutral Rating on Alamo Group (ALG)

DA Davidson analyst Michael Shilsky reiterated a Neutral rating and $188.00 price target on Alamo Group (NYSE: ALG).

The analyst commented, "We hosted a group call between investors and ALG management this week. CEO Robert Hureau & CFO Agnes Kamps represented the company. ALG provided more detail on the new CEO's financial targets. ALG also provided considerable detail on what looks like an acceleration in its M&A plans, especially considering its FCF profile and the ample room on its balance sheet. We got the sense that channel participants are optimistic that as the calendar flips to July 1 that Industrial quoting activity will increase. ALG's set-up appears promising, and once we start seeing some solid steps in the right direction we could turn more constructive on the stock."

For an analyst ratings summary and ratings history on Alamo Group click here. For more ratings news on Alamo Group click here.

Shares of Alamo Group closed at $164.49 yesterday.

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