Alta Equipment Group Inc. (NYSE:ALTG) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analyst consensus "Hold": Five analysts give Alta Equipment Group an average rating of "Hold" (1 sell, 2 hold, 2 buy) with a 12‑month average price target of about $12.17.
• Insider selling: CEO Ryan Greenawalt sold 27,986 shares and CFO Anthony Colucci sold 8,137 shares on March 3 at roughly $7.05 each, though insiders still own about 19.90% of the company and insiders acquired 84,000 shares in the last 90 days.
• Financial and stock snapshot: ALTG has a market cap of ~$255.6M, reported a quarterly EPS miss (‑$0.39 vs. ‑$0.29 expected) with revenue above estimates, and shows weak profitability and a high debt‑to‑equity ratio (257.1).

Shares of Alta Equipment Group Inc. (NYSE:ALTG - Get Free Report) have earned a consensus rating of "Hold" from the five ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $12.1667.

Several analysts have recently commented on ALTG shares. DA Davidson set a $7.00 price objective on shares of Alta Equipment Group in a report on Friday, March 6th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Alta Equipment Group in a report on Monday, December 29th. Wall Street Zen raised shares of Alta Equipment Group from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. Raymond James Financial raised shares of Alta Equipment Group from a "market perform" rating to an "outperform" rating and set a $9.50 price objective on the stock in a report on Monday, March 9th. Finally, Zacks Research raised shares of Alta Equipment Group from a "strong sell" rating to a "hold" rating in a report on Monday, January 19th.

Insider Activity

In related news, CEO Ryan Greenawalt sold 27,986 shares of the business's stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $7.05, for a total value of $197,301.30. Following the completion of the transaction, the chief executive officer directly owned 5,721,710 shares in the company, valued at $40,338,055.50. The trade was a 0.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Anthony Colucci sold 8,137 shares of the business's 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 of the company's stock, valued at approximately $1,697,287.50. This represents a 3.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have acquired 84,000 shares of company stock valued at $519,371 in the last ninety days. Insiders own 19.90% of the company's stock.

Hedge Funds Weigh In On Alta Equipment Group

Several large investors have recently made changes to their positions in ALTG. Strs Ohio acquired a new position in shares of Alta Equipment Group in the 1st quarter valued at $138,000. Rhumbline Advisers lifted its stake in shares of Alta Equipment Group by 15.9% in the 1st quarter. Rhumbline Advisers now owns 39,374 shares of the company's stock valued at $185,000 after purchasing an additional 5,406 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Alta Equipment Group by 71.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 55,084 shares of the company's stock valued at $348,000 after purchasing an additional 23,047 shares during the period. Quantinno Capital Management LP lifted its stake in shares of Alta Equipment Group by 72.4% in the 2nd quarter. Quantinno Capital Management LP now owns 62,314 shares of the company's stock valued at $394,000 after purchasing an additional 26,176 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Alta Equipment Group in the 2nd quarter valued at $35,000. 73.58% of the stock is currently owned by institutional investors and hedge funds.

Alta Equipment Group Stock Up 6.6%

ALTG stock opened at $7.92 on Tuesday. The firm's fifty day simple moving average is $6.31 and its 200-day simple moving average is $5.91. The company has a market capitalization of $255.58 million, a P/E ratio of -3.09 and a beta of 1.57. The company has a debt-to-equity ratio of 257.10, a current ratio of 1.43 and a quick ratio of 0.48. Alta Equipment Group has a 12 month low of $4.13 and a 12 month high of $8.99.

Alta Equipment Group (NYSE:ALTG - Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.10). The business had revenue of $509.10 million during the quarter, compared to analysts' expectations of $489.56 million. Alta Equipment Group had a negative net margin of 4.37% and a negative return on equity of 341.70%. As a group, equities research analysts forecast that Alta Equipment Group will post -1.3 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.

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