TheStreet Lowers Alto Ingredients (NASDAQ: ALTO) to C
Alto Ingredients (NASDAQ: ALTO – Get Note) was downgraded by TheStreet investment analysts from a “b-” rating to a “c” rating in a report released on Tuesday, TheStreetRatingsTable reports.
Separately, Zacks Investment Research upgraded shares of Alto Ingredients from a “hold” rating to a “sell” rating in a research note on Tuesday.
Shares of Alto Ingredients opened at $4.85 on Tuesday. The company has a debt ratio of 0.15, a current ratio of 3.30 and a quick ratio of 2.52. Alto Ingredients has a fifty-two-week low of $4.10 and a fifty-two-week high of $7.37. The company has a fifty-day moving average price of $6.12 and a two-hundred-day moving average price of $5.55. The company has a market capitalization of $357.58 million, a PE ratio of 7.95 and a beta of 2.61.
Alto Ingredients (NASDAQ:ALTO – Get Rating) last released its quarterly results on Monday, May 9. The company reported ($0.04) earnings per share for the quarter, missing analyst consensus estimates of $0.14 per ($0.18). Alto Ingredients had a net margin of 3.82% and a return on equity of 14.30%. In the same quarter of the previous year, the company had earned earnings per share of $0.07. Analysts expect Alto Ingredients to post earnings per share of 0.26 for the current fiscal year.
Hedge funds have recently changed their positions in the business. American Century Companies Inc. acquired a new stake in shares of Alto Ingredients during Q3 for a value of approximately $246,000. Teacher Retirement System of Texas acquired a new stake in shares of Alto Ingredients during Q3 for a value of approximately $573,000. Dimensional Fund Advisors LP increased its position in Alto Ingredients shares by 62.3% during the third quarter. Dimensional Fund Advisors LP now owns 1,008,610 shares of the company worth $4,982,000 after buying 387,073 additional shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Alto Ingredients during Q3 for a value of approximately $79,000. Finally, Advisor Group Holdings Inc. acquired a new stake in shares of Alto Ingredients during Q3 worth approximately $76,000. Institutional investors hold 57.54% of the company’s shares.
About Alto Ingredients (Get a rating)
Alto Ingredients, Inc produces and markets specialty alcohols and essential ingredients in the United States. The Company operates in three segments: Marketing and Distribution, Beijing Production and Other Production. It offers specialty alcohols used in mouthwashes, cosmetics, pharmaceuticals, hand sanitizers, disinfectants and cleaners for the health, home and beauty markets; grain-based neutral spirits used in alcoholic beverages, flavoring extracts and vinegar, as well as corn germ used in corn oils and carbon dioxide for food and beverage markets; and essential ingredients include dry yeast, corn gluten meal, corn gluten feed, distillers grains and liquid foods for commercial animal feed and pet food applications.
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