Alta Equipment Group Inc. (NYSE:ALTG) Given Average Rating of "Hold" by Brokerages

Key Points

• Shares have an average analyst rating of Hold from six firms (1 sell, 3 hold, 1 buy, 1 strong buy) with an average 12‑month price target of $11.00.
• Both the CFO and CEO sold shares on March 3 at an average price of $7.05 (CFO 8,137 shares; CEO 27,986 shares), and company insiders now own about 19.90% of the stock.
• Alta reported Q4 EPS of ($0.39), missing estimates by $0.10 while beating revenue ($509.1M vs. $489.6M); the stock trades around $6.64 with a market cap of ~$214M and negative profitability metrics (P/E -2.59, negative ROE and net margin).

Shares of Alta Equipment Group Inc. (NYSE:ALTG - Get Free Report) have earned an average rating of "Hold" from the six ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $11.00.

Several brokerages have recently weighed in on ALTG. DA Davidson set a $7.00 price target on Alta Equipment Group in a research report on Friday. Weiss Ratings restated a "sell (e+)" rating on shares of Alta Equipment Group in a research note on Monday, December 29th. Wall Street Zen raised Alta Equipment Group from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. Finally, Zacks Research upgraded Alta Equipment Group from a "strong sell" rating to a "hold" rating in a research report on Monday, January 19th.

Insider Buying and Selling

In related news, CFO Anthony Colucci sold 8,137 shares of the business's 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 $57,365.85. Following the completion of the transaction, the chief financial officer owned 240,750 shares of the company's stock, valued at approximately $1,697,287.50. The trade was a 3.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Greenawalt sold 27,986 shares of the company's stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $7.05, for a total transaction of $197,301.30. Following the sale, the chief executive officer directly owned 5,721,710 shares in the company, valued at $40,338,055.50. This trade represents a 0.49% decrease in their position. The disclosure for this sale is available in the SEC filing. 19.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in Alta Equipment Group by 55.1% during the fourth quarter. Royal Bank of Canada now owns 6,153 shares of the company's stock valued at $28,000 after buying an additional 2,186 shares during the period. Public Employees Retirement System of Ohio increased its stake in Alta Equipment Group by 221.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 6,100 shares of the company's stock worth $28,000 after acquiring an additional 4,200 shares during the last quarter. Quarry LP increased its stake in Alta Equipment Group by 150.9% in the 4th quarter. Quarry LP now owns 6,676 shares of the company's stock worth $31,000 after acquiring an additional 4,015 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Alta Equipment Group in the 2nd quarter valued at about $35,000. Finally, Inscription Capital LLC purchased a new stake in shares of Alta Equipment Group in the 4th quarter valued at about $56,000. 73.58% of the stock is currently owned by hedge funds and other institutional investors.

Alta Equipment Group Stock Down 4.5%

Alta Equipment Group stock opened at $6.64 on Monday. The firm has a 50 day simple moving average of $6.42 and a 200 day simple moving average of $6.29. The company has a current ratio of 1.43, a quick ratio of 0.48 and a debt-to-equity ratio of 257.10. Alta Equipment Group has a 1-year low of $3.54 and a 1-year high of $8.99. The firm has a market capitalization of $214.07 million, a price-to-earnings ratio of -2.59 and a beta of 1.54.

Alta Equipment Group (NYSE:ALTG - Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.10). The company had revenue of $509.10 million for the quarter, compared to analysts' expectations of $489.56 million. Alta Equipment Group had a negative return on equity of 341.70% and a negative net margin of 4.37%. On average, analysts predict that Alta Equipment Group will post -1.92 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.