Alto Ingredients (NASDAQ:ALTO) Releases Earnings Results, Beats Expectations By $0.01 EPS

Posted by Marion Hillson on May 8th, 2024

Alto Ingredients (NASDAQ:ALTO – Get Free Report) announced its quarterly earnings data on Monday. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.01, Zacks reports. The firm had revenue of $240.63 million for the quarter, compared to analysts’ expectations of $199.56 million. Alto Ingredients had a negative net margin of 2.29% and a negative return on equity of 7.32%. During the same period last year, the firm earned ($0.17) earnings per share.

Alto Ingredients Trading Down 1.7 %

Shares of NASDAQ ALTO traded down $0.03 during midday trading on Wednesday, reaching $1.73. 373,178 shares of the stock were exchanged, compared to its average volume of 631,691. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.59 and a quick ratio of 1.78. Alto Ingredients has a 12 month low of $1.53 and a 12 month high of $4.98. The business has a 50-day simple moving average of $2.04 and a two-hundred day simple moving average of $2.37. The company has a market capitalization of $130.96 million, a price-to-earnings ratio of -4.51 and a beta of 1.92.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and issued a $5.50 price target on shares of Alto Ingredients in a research report on Tuesday.

View Our Latest Analysis on Alto Ingredients

About Alto Ingredients

(Get Free Report)

Alto Ingredients, Inc produces, distributes, and markets specialty alcohols, renewable fuel, and essential ingredients in the United States. The company operates in three segments: Marketing and Distribution, Pekin Campus Production, and Western Production. It offers specialty alcohols used in mouthwash, cosmetics, pharmaceuticals, hand sanitizers, disinfectants, and cleaners for health, home, and beauty markets; grain neutral spirits used in alcoholic beverages and vinegar, as well as corn germ used in corn oils in the food and beverage markets; alcohols and other products for paint applications and fertilizers in the industrial and agriculture markets; and essential ingredients include dried yeast, corn protein meal, corn protein feed, distiller's grains, and liquid feed for commercial animal feed and pet food applications, as well as yeast for human consumption.