Research Analysts Offer Predictions for ALTG FY2030 Earnings

Alta Equipment Group Inc. (NYSE:ALTG) – Stock analysts at Northland Securities issued their FY2030 EPS estimates for shares of Alta Equipment Group in a research note issued to investors on Wednesday, March 4th. Northland Securities analyst E. Jackson forecasts that the company will post earnings per share of $0.81 for the year. The consensus estimate for Alta Equipment Group’s current full-year earnings is ($1.92) per share.

Alta Equipment Group (NYSE:ALTG) last posted its earnings results on Thursday, February 26th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.10). Alta Equipment Group had a negative net margin of 4.37% and a negative return on equity of 341.70%. The firm had revenue of $509.10 million during the quarter, compared to the consensus estimate of $489.56 million.

ALTG has been the subject of a number of other research reports. DA Davidson cut their price objective on shares of Alta Equipment Group from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Alta Equipment Group in a research report on Monday, December 29th. Zacks Research raised Alta Equipment Group from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. Finally, Wall Street Zen upgraded shares of Alta Equipment Group from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $11.00.

Alta Equipment Group Stock Performance

ALTG opened at $6.98 on Friday. The company’s 50 day moving average is $6.38 and its 200 day moving average is $6.31. The company has a current ratio of 1.43, a quick ratio of 0.48 and a debt-to-equity ratio of 257.10. The company has a market cap of $225.04 million, a price-to-earnings ratio of -2.73 and a beta of 1.54. Alta Equipment Group has a 12-month low of $3.54 and a 12-month high of $8.99.

Insider Buying and Selling

In other news, CEO Ryan Greenawalt sold 27,986 shares of Alta Equipment Group stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $7.05, for a total transaction of $197,301.30. Following the sale, the chief executive officer owned 5,721,710 shares in the company, valued at $40,338,055.50. This trade represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Anthony Colucci sold 8,137 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $7.05, for a total transaction of $57,365.85. Following the transaction, the chief financial officer owned 240,750 shares of the company’s stock, valued at approximately $1,697,287.50. This represents a 3.27% decrease in their position. The SEC filing for this sale provides additional information. 19.20% of the stock is owned by insiders.

Institutional Trading of Alta Equipment Group

Hedge funds have recently bought and sold shares of the stock. First Eagle Investment Management LLC boosted its holdings in shares of Alta Equipment Group by 16.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 792,103 shares of the company’s stock worth $5,006,000 after purchasing an additional 110,444 shares during the period. Citizens Financial Group Inc. RI lifted its position in Alta Equipment Group by 147.3% in the second quarter. Citizens Financial Group Inc. RI now owns 230,000 shares of the company’s stock worth $1,454,000 after buying an additional 137,000 shares during the last quarter. RBF Capital LLC bought a new position in Alta Equipment Group during the second quarter valued at $632,000. Bailard Inc. purchased a new stake in shares of Alta Equipment Group in the third quarter valued at $265,000. Finally, Strs Ohio lifted its holdings in shares of Alta Equipment Group by 142.3% in the 3rd quarter. Strs Ohio now owns 76,800 shares of the company’s stock worth $556,000 after acquiring an additional 45,100 shares during the last quarter. Hedge funds and other institutional investors own 73.58% of the company’s stock.

Alta Equipment Group Company Profile

Alta Equipment Group, Inc (NYSE: ALTG) is a North American distributor of material handling and logistics equipment. The company offers a broad lineup of forklifts, lift trucks, aerial work platforms, tow motors, pallet jacks and related attachments, serving manufacturing, warehousing, distribution and industrial facilities. Through its network of branch locations, Alta Equipment provides customers with new and used sales, short- and long-term rentals, and integrated fleet management solutions designed to support operational efficiency.

In addition to equipment sales, Alta Equipment supports customers with comprehensive after-sales services.