Alta Equipment Group (NYSE:ALTG - Get Free Report)'s stock had its "sell (d-)" rating restated by Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.
A number of other research analysts also recently weighed in on the company. DA Davidson reiterated a "neutral" rating and set a $8.00 target price on shares of Alta Equipment Group in a report on Monday, August 18th. Northland Securities upgraded shares of Alta Equipment Group from a "market perform" rating to an "outperform" rating and set a $20.00 target price on the stock in a report on Tuesday, July 8th. Finally, Northland Capmk upgraded shares of Alta Equipment Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.25.
Read Our Latest Research Report on ALTG
Alta Equipment Group Trading Up 2.2%
NYSE:ALTG traded up $0.15 during mid-day trading on Wednesday, reaching $6.82. 37,696 shares of the company's stock traded hands, compared to its average volume of 223,179. Alta Equipment Group has a 12-month low of $3.54 and a 12-month high of $8.99. The firm has a market capitalization of $218.58 million, a price-to-earnings ratio of -3.31 and a beta of 1.58. The company has a debt-to-equity ratio of 16.69, a current ratio of 1.39 and a quick ratio of 0.48. The company has a 50 day moving average price of $7.65 and a 200-day moving average price of $6.34.
Alta Equipment Group (NYSE:ALTG - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.27) by $0.06. Alta Equipment Group had a negative return on equity of 95.61% and a negative net margin of 3.53%.The company had revenue of $481.20 million for the quarter, compared to the consensus estimate of $478.63 million. On average, sell-side analysts predict that Alta Equipment Group will post -1.92 earnings per share for the current year.
Institutional Trading of Alta Equipment Group
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Engineers Gate Manager LP purchased a new stake in shares of Alta Equipment Group in the 2nd quarter worth approximately $81,000. Bank of America Corp DE lifted its position in Alta Equipment Group by 4.1% in the 2nd quarter. Bank of America Corp DE now owns 170,161 shares of the company's stock valued at $1,075,000 after acquiring an additional 6,698 shares in the last quarter. Raymond James Financial Inc. bought a new position in Alta Equipment Group in the 2nd quarter valued at approximately $35,000. Quantinno Capital Management LP lifted its position in 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 acquiring an additional 26,176 shares in the last quarter. Finally, RBF Capital LLC bought a new position in Alta Equipment Group in the 2nd quarter valued at approximately $632,000. Hedge funds and other institutional investors own 73.58% of the company's stock.
About Alta Equipment Group
(
Get Free Report)
Alta Equipment Group Inc owns and operates integrated equipment dealership platforms in the United States. It operates through three segments: Material Handling, Construction Equipment, and Master Distribution. The company operates a branch network that sells, rents, and provides parts and service support for various categories of specialized equipment, including lift trucks and other material handling equipment, heavy and compact earthmoving equipment, crushing and screening equipment, environmental processing equipment, cranes and aerial work platforms, paving and asphalt equipment, and other construction equipment and related products.
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