Alamo Group price target lowered to $217 from $219 at DA Davidson

DA Davidson analyst Michael Shlisky lowered the firm’s price target on Alamo Group (ALG) to $217 from $219 and keeps a Buy rating on the shares after the company’s Q4 results. Growth in the company’s Industrial business is resilient, and its operating margins could end the year at 15%, the analyst tells investors in a research note. Alamo also has no net debt, and the company is actively seeking both domestic and international M&A opportunities to complement its share-repurchase program, the firm added, stating that it would use Friday’s modest pull-back as an entry point for this “high-quality” stock.