Alto Ingredients (NASDAQ:ALTO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Alto Ingredients (NASDAQ:ALTO) from a buy rating to a strong-buy rating in a research note released on Saturday morning.

Several other equities analysts also recently commented on ALTO. Weiss Ratings restated a “sell (d-)” rating on shares of Alto Ingredients in a research note on Monday, December 29th. Zacks Research cut Alto Ingredients from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Alto Ingredients Trading Down 0.5%

NASDAQ ALTO opened at $4.37 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.30 and a current ratio of 3.56. The firm has a market cap of $337.98 million, a price-to-earnings ratio of 27.31 and a beta of 0.60. The firm has a 50 day simple moving average of $2.71 and a 200-day simple moving average of $2.02. Alto Ingredients has a one year low of $0.76 and a one year high of $4.53.

Alto Ingredients (NASDAQ:ALTO) last announced its earnings results on Wednesday, March 4th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.17. The firm had revenue of $231.97 million for the quarter, compared to the consensus estimate of $234.83 million. Alto Ingredients had a net margin of 1.45% and a return on equity of 3.10%. Equities research analysts anticipate that Alto Ingredients will post -0.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new stake in shares of Alto Ingredients in the 4th quarter valued at approximately $3,324,000. Goldman Sachs Group Inc. increased its holdings in Alto Ingredients by 169.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 715,180 shares of the company’s stock valued at $2,060,000 after buying an additional 449,697 shares during the last quarter. Millennium Management LLC increased its holdings in Alto Ingredients by 2,967.5% in the fourth quarter. Millennium Management LLC now owns 369,513 shares of the company’s stock valued at $1,064,000 after buying an additional 357,467 shares during the last quarter. Truffle Hound Capital LLC acquired a new stake in Alto Ingredients in the fourth quarter valued at $864,000. Finally, Corsair Capital Management L.P. acquired a new stake in Alto Ingredients in the fourth quarter valued at $721,000. Hedge funds and other institutional investors own 42.44% of the company’s stock.

About Alto Ingredients

Alto Ingredients, Inc (NASDAQ: ALTO) is a diversified producer of alcohol-based products and specialty ingredients for industrial, food, beverage and personal care applications. The company’s core offering centers on ethanol produced for fuel markets, as well as an expanding portfolio of natural and organic alcohols, glycerin and other ingredient solutions. Alto’s product lines serve a range of end markets, including renewable fuels, confectionery, flavorings, cosmetics and sanitizers.

Headquartered in Dallas, Texas, Alto Ingredients operates a network of production facilities across the United States.