Analysts Set Alta Equipment Group Inc. (NYSE:ALTG) PT at $12.17

Alta Equipment Group Inc. (NYSE:ALTG) has been given an average rating of “Hold” by the five brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $12.1667.

A number of equities research analysts have recently commented on the company. Wall Street Zen raised Alta Equipment Group from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Raymond James Financial raised Alta Equipment Group from a “market perform” rating to an “outperform” rating and set a $9.50 price target on the stock in a research note on Monday, March 9th. Finally, DA Davidson upgraded Alta Equipment Group to a “hold” rating in a report on Wednesday, May 6th.

Alta Equipment Group Stock Performance

Shares of ALTG opened at $6.44 on Friday. Alta Equipment Group has a 1 year low of $4.16 and a 1 year high of $8.99. The company’s 50 day simple moving average is $6.27 and its 200 day simple moving average is $5.97. The company has a market capitalization of $209.66 million, a price-to-earnings ratio of -2.55 and a beta of 1.82. The company has a debt-to-equity ratio of 257.10, a quick ratio of 0.47 and a current ratio of 1.37.

Alta Equipment Group (NYSE:ALTG) last released its earnings results on Thursday, May 7th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.03). Alta Equipment Group had a negative return on equity of 3,253.61% and a negative net margin of 4.33%.The firm had revenue of $410.50 million during the quarter, compared to analysts’ expectations of $424.18 million. On average, sell-side analysts predict that Alta Equipment Group will post -1.2 EPS for the current year.

Insider Buying and Selling

In other Alta Equipment Group news, CEO Ryan Greenawalt sold 27,986 shares of the 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 transaction, the chief executive officer owned 5,721,710 shares of the company’s stock, 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 document filed with the SEC, which is accessible through this hyperlink. Also, CFO Anthony Colucci sold 8,137 shares of Alta Equipment Group stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $7.05, for a total transaction of $57,365.85. Following the completion of the transaction, the chief financial officer owned 240,750 shares in the company, valued at approximately $1,697,287.50. This trade represents a 3.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have purchased 84,000 shares of company stock valued at $519,371. Insiders own 20.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Alta Equipment Group by 2.4% in the third quarter. Vanguard Group Inc. now owns 1,321,283 shares of the company’s stock valued at $9,566,000 after acquiring an additional 30,552 shares during the last quarter. CastleKnight Management LP raised its holdings in shares of Alta Equipment Group by 11.4% in the 4th quarter. CastleKnight Management LP now owns 870,128 shares of the company’s stock worth $4,003,000 after purchasing an additional 89,068 shares during the period. Royce & Associates LP raised its holdings in shares of Alta Equipment Group by 0.7% in the 4th quarter. Royce & Associates LP now owns 550,783 shares of the company’s stock worth $2,534,000 after purchasing an additional 3,991 shares during the period. State Street Corp lifted its stake in shares of Alta Equipment Group by 0.3% in the 4th quarter. State Street Corp now owns 527,644 shares of the company’s stock valued at $2,427,000 after purchasing an additional 1,826 shares in the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of Alta Equipment Group during the 3rd quarter worth about $3,435,000. 73.58% of the stock is owned by hedge funds and other institutional investors.

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.