ALG - Alamo Group rated Outperform in new research coverage by Raymond James

2023-07-07 09:20:43 ET

Alamo Group ( NYSE: ALG ) was rated Outperform in new research coverage by analysts at Raymond James. The said the maker of farming, earth-moving and road-maintenance equipment is undervalued and is poised for gains as supply-chain constraints are alleviated.

Alamo Group’s ( ALG ) customer base includes municipalities that help to support demand for its products, according to Raymond James. The company also can increase profit margins as input costs decline and revenue increases from high-margin after-market services such as parts and maintenance.

The shares of Alamo Group ( ALG ) trade at about 15 times Raymond James’s estimate of 2024 EPS, below the 10-year average next-12-month price-to-earnings multiple of about 17 times.

Seeking Alpha contributor Sarfaraz A. Khan rates Alamo Group ( ALG ) as a Hold because of its economic uncertainty . Columnist Grassroots Trading has a Buy rating on Alamo Group ( ALG ) because of improvements in its operating margin .

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