Should I buy or sell Alta Equipment Group stock right now?

3 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Alta Equipment Group in the last twelve months. There are currently 3 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" ALTG shares. View ALTG analyst ratings or view top-rated stocks .

What is Alta Equipment Group's stock price target for 2024?

3 analysts have issued 1 year price objectives for Alta Equipment Group's stock. Their ALTG share price targets range from $19.50 to $22.00. On average, they expect the company's share price to reach $21.17 in the next year. This suggests a possible upside of 80.8% from the stock's current price. View analysts price targets for ALTG or view top-rated stocks among Wall Street analysts .

How have ALTG shares performed in 2024?

Alta Equipment Group's stock was trading at $12.37 at the start of the year. Since then, ALTG shares have decreased by 5.3% and is now trading at $11.71. View the best growth stocks for 2024 here .

Are investors shorting Alta Equipment Group?

Alta Equipment Group saw a decline in short interest during the month of March. As of March 31st, there was short interest totaling 1,740,000 shares, a decline of 5.4% from the March 15th total of 1,840,000 shares. Based on an average daily volume of 328,400 shares, the short-interest ratio is presently 5.3 days. Currently, 7.7% of the shares of the company are sold short. View Alta Equipment Group's Short Interest .

When is Alta Equipment Group's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 8th 2024. View our ALTG earnings forecast .

How were Alta Equipment Group's earnings last quarter?

Alta Equipment Group Inc. (NYSE:ALTG) posted its earnings results on Thursday, March, 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by $0.03. The business had revenue of $521.50 million for the quarter, compared to analyst estimates of $478.68 million. Alta Equipment Group had a net margin of 0.47% and a trailing twelve-month return on equity of 8.60%.

How often does Alta Equipment Group pay dividends? What is the dividend yield for Alta Equipment Group?

Alta Equipment Group announced a quarterly dividend on Friday, February 2nd. Shareholders of record on Thursday, February 15th will be given a dividend of $0.057 per share on Thursday, February 29th. This represents a $0.23 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Wednesday, February 14th. Read our dividend analysis for ALTG .

Is Alta Equipment Group a good dividend stock?

Alta Equipment Group (NYSE:ALTG) pays an annual dividend of $0.23 per share and currently has a dividend yield of 1.84%. The dividend payout ratio is 127.78%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, ALTG will have a dividend payout ratio of 44.23% next year. This indicates that the company will be able to sustain or increase its dividend. Read our dividend analysis for ALTG .

How do I buy shares of Alta Equipment Group?

Shares of ALTG stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services. Compare Top Brokerages Here .

NYSE:ALTG

Alta Equipment Group (ALTG) Stock Price, News & Analysis

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$11.71

-0.67 (-5.41%)

(As of 04/15/2024 ET)

Compare

Today's Range: $11.55
▼
$12.51
50-Day Range: $10.51
▼
$13.15
52-Week Range: $8.76
▼
$17.98

Volume: 338,764 shs
Average Volume: 321,043 shs
Market Capitalization: $384.21 million

P/E Ratio: 65.06
Dividend Yield: 1.96%
Price Target: $21.17

Get Alta Equipment Group alerts:

Alta Equipment Group MarketRank™ Stock Analysis

Analyst Rating: Buy
3.00 Rating Score
Upside/Downside: 80.8% Upside
$21.17 Price Target
Short Interest: Healthy
7.72% of Float Sold Short
Dividend Strength: Weak
Based on Four Factors
Sustainability: N/A
News Sentiment: 0.50
Based on 5 Articles This Week
Insider Trading: Selling Shares
$31.01 M Sold Last Quarter
Proj. Earnings Growth: 92.59%
From $0.27 to $0.52 Per Share

Overall MarketRank^™

New Rank-Based ScoringMarketRank^™ is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.35 out of 5 stars

Industrial Products Sector

30th out of 171 stocks

Industrial Machinery & Equipment Industry

2nd out of 5 stocks

3.5

Analyst's Opinion

Consensus Rating
Alta Equipment Group has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 3 buy ratings, no hold ratings, and no sell ratings.
Amount of Analyst Coverage
Alta Equipment Group has only been the subject of 2 research reports in the past 90 days.

3.0

Short Interest

Percentage of Shares Shorted
7.72% of the float of Alta Equipment Group has been sold short.
Short Interest Ratio / Days to Cover
Alta Equipment Group has a short interest ratio ("days to cover") of 5.3.
Change versus previous month
Short interest in Alta Equipment Group has recently decreased by 5.43%, indicating that investor sentiment is improving significantly.

1.7

Dividend Strength

Dividend Yield
Alta Equipment Group pays a meaningful dividend of 1.84%, higher than the bottom 25% of all stocks that pay dividends.
Dividend Growth
Alta Equipment Group does not have a long track record of dividend growth.
Dividend Coverage
The dividend payout ratio of Alta Equipment Group is 127.78%. Payout ratios above 75% are not desirable because they may not be sustainable.
Dividend Sustainability
Based on earnings estimates, Alta Equipment Group will have a dividend payout ratio of 44.23% next year. This indicates that Alta Equipment Group will be able to sustain or increase its dividend.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for ALTG.

1.9

News and Social Media Coverage

News Sentiment
Alta Equipment Group has a news sentiment score of 0.50. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.65 average news sentiment score of Industrial Products companies.
News Coverage This Week
MarketBeat has tracked 5 news articles for Alta Equipment Group this week, compared to 1 article on an average week.
Search Interest
Only 1 people have searched for ALTG on MarketBeat in the last 30 days. This is a decrease of -88% compared to the previous 30 days.

5.0

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Alta Equipment Group insiders have sold 6,868.94% more of their company's stock than they have bought. Specifically, they have bought $445,000.00 in company stock and sold $31,011,780.00 in company stock.
Percentage Held by Insiders
20.90% of the stock of Alta Equipment Group is held by insiders. A high percentage of insider ownership can be a sign of company health.
Percentage Held by Institutions
73.58% of the stock of Alta Equipment Group is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

2.5

Earnings and Valuation

Earnings Growth
Earnings for Alta Equipment Group are expected to grow by 92.59% in the coming year, from $0.27 to $0.52 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Alta Equipment Group is 65.06, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 142.33.
Price to Earnings Ratio vs. Sector
The P/E ratio of Alta Equipment Group is 65.06, which means that it is trading at a more expensive P/E ratio than the Industrial Products sector average P/E ratio of about 20.97.
Price to Book Value per Share Ratio
Alta Equipment Group has a P/B Ratio of 2.53. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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About Alta Equipment Group Stock (NYSE:ALTG)

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. It also offers repair and maintenance services for its equipment. In addition, the company designs and builds warehouses; provides automated equipment installation and system integration solutions; and distributes environmental processing equipment. It serves various manufacturing, food and beverage, automotive, municipal/government, education, pharmaceutical and medical, wholesale and retail distribution, construction, agriculture, road building, mining, recycling, and waste management sectors. Alta Equipment Group Inc. was founded in 1984 and is headquartered in Livonia, Michigan.

ALTG Stock Price History

30 days | 90 days | 365 days | Advanced Chart

ALTG Stock News Headlines

April 16, 2024 | americanbankingnews.com

Alta Equipment Group Inc. (NYSE:ALTG) Sees Large Drop in Short Interest

April 12, 2024 | msn.com

Alta Equipment Group announces departure of director Zachary Savas

April 16, 2024 | InvestorPlace (Ad)

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April 12, 2024 | globenewswire.com

Alta Equipment Group Announces Board Refreshment

April 3, 2024 | globenewswire.com

Alta Equipment Group Announces Preferred Stock Dividend

April 1, 2024 | finance.yahoo.com

Owning 48% shares,institutional owners seem interested in Alta Equipment Group Inc. (NYSE:ALTG),

March 22, 2024 | seekingalpha.com

ALTG Alta Equipment Group Inc.

March 19, 2024 | markets.businessinsider.com

Analysts Offer Insights on Industrial Goods Companies: Ceco Environmental (CECO) and Alta Equipment Group (ALTG)

April 16, 2024 | InvestorPlace (Ad)

“Forget Tesla, this is Elon’s Next Big Thing”

According to Forbes, this breakthrough could define the future of AI. Most people don’t know about it… Because it was found 750 miles away from Silicon Valley.

March 16, 2024 | finance.yahoo.com

Alta Equipment Group Full Year 2023 Earnings: Revenues Beat Expectations, EPS Lags

March 15, 2024 | finance.yahoo.com

Q4 2023 Alta Equipment Group Inc Earnings Call

March 14, 2024 | msn.com

ALTG Stock Earnings: Alta Equipment Group Beats EPS, Beats Revenue for Q4 2023

March 14, 2024 | msn.com

Alta Equipment Non-GAAP EPS of $0.03 in-line, revenue of $521.5M beats by $37.82M

March 14, 2024 | benzinga.com

Recap: Alta Equipment Group Q4 Earnings

March 14, 2024 | finance.yahoo.com

Alta Equipment Group Inc (ALTG) Reports Revenue Surge Amidst Net Loss in Q4

March 14, 2024 | globenewswire.com

Alta Equipment Group Announces Fourth Quarter and Full Year 2023 Financial Results and Provides Adjusted EBITDA Guidance for 2024

March 13, 2024 | benzinga.com

A Preview Of Alta Equipment Group's Earnings

March 4, 2024 | finance.yahoo.com

Bullish Alta Equipment Group Insiders Loaded Up On US$949.2k Of Stock

February 29, 2024 | globenewswire.com

Alta Equipment Group Announces Date of Fourth Quarter and Full Year 2023 Financial Results Release, Conference Call and Webcast

February 26, 2024 | globenewswire.com

Alta Equipment Group Appoints Sidhartha Nair as Director

February 22, 2024 | benzinga.com

Alta Equipment Group Stock (NYSE:ALTG), Quotes and News Summary

February 19, 2024 | finance.yahoo.com

If EPS Growth Is Important To You, Alta Equipment Group (NYSE:ALTG) Presents An Opportunity

February 17, 2024 | finance.yahoo.com

ALTG Mar 2024 10.000 call

February 14, 2024 | wsj.com

Alta Equipment Group Inc. Cl A

February 9, 2024 | benzinga.com

Alta Equipment Group: Dividend Insights

February 9, 2024 | finance.yahoo.com

Alta Equipment (ALTG) Surges 6.7%: Is This an Indication of Further Gains?

February 2, 2024 | finance.yahoo.com

Alta Equipment Group (NYSE:ALTG) Will Want To Turn Around Its Return Trends

See More Headlines

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Company Calendar

Ex-Dividend for 1/31 Dividend: 1/11/2024
Dividend Payable: 1/31/2024
Ex-Dividend for 2/29 Dividend: 2/14/2024
Dividend Payable: 2/29/2024
Last Earnings: 3/14/2024
Today: 4/16/2024
Next Earnings (Estimated): 5/08/2024
Fiscal Year End: 12/31/2024

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Industry, Sector and Symbol

Stock Exchange: NYSE
Sector: Industrial Products
Industry: Industrial machinery & equipment
Sub-Industry: N/A
Current Symbol: NYSE:ALTG
CUSIP: N/A
CIK: 1759824
Web: www.altaequipment.com
Phone: (248) 449-6700
Fax: N/A
Employees: 3,000
Year Founded: N/A

Price Target and Rating

Average Stock Price Target: $21.17
High Stock Price Target: $22.00
Low Stock Price Target: $19.50
Potential Upside/Downside: +80.8%
Consensus Rating: Buy
Rating Score (0-4): 3.00
Research Coverage: 3 Analysts

Profitability

EPS (Most Recent Fiscal Year): $0.18
Trailing P/E Ratio: 65.06
Forward P/E Ratio: 43.37
P/E Growth: N/A
Net Income: $8.90 million
Net Margins: 0.47%
Pretax Margin: 0.13%
Return on Equity: 8.60%
Return on Assets: 0.85%

Debt

Debt-to-Equity Ratio: 4.40
Current Ratio: 1.32
Quick Ratio: 0.48

Sales & Book Value

Annual Sales: $1.88 billion
Price / Sales: 0.20
Cash Flow: $4.20 per share
Price / Cash Flow: 2.79
Book Value: $4.62 per share
Price / Book: 2.53

Miscellaneous

Outstanding Shares: 32,810,000
Free Float: 25,949,000
Market Cap: $384.21 million
Optionable: Optionable
Beta: 1.65

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Key Executives

Mr. Ryan Greenawalt (Age 50)
CEO & Chairman
Comp: $1.75M
Mr. Anthony J. Colucci (Age 45)
Chief Financial Officer
Comp: $946.91k
Mr. Craig Brubaker (Age 53)
Chief Operating Officer
Comp: $620.35k
Mr. Jeff Hoover
Chief Legal Officer & General Counsel
Paul Ivankovics
Vice President of Human Resources
Mr. Robert T. Chiles
President of Construction Equipment Division
Mr. Bob Kohler
President of Industrial Group
Mr. Alan Hammersley
President & CEO of NITCO
Mr. Andrew Rundle
Director of Finance
Jason Dammeyer
Director of SEC Reporting & Technical Accounting

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

ALTG Stock Analysis - Frequently Asked Questions

Should I buy or sell Alta Equipment Group stock right now?: 3 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Alta Equipment Group in the last twelve months. There are currently 3 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" ALTG shares.
View ALTG analyst ratings or view top-rated stocks.
What is Alta Equipment Group's stock price target for 2024?: 3 analysts have issued 1 year price objectives for Alta Equipment Group's stock. Their ALTG share price targets range from $19.50 to $22.00. On average, they expect the company's share price to reach $21.17 in the next year. This suggests a possible upside of 80.8% from the stock's current price.
View analysts price targets for ALTG or view top-rated stocks among Wall Street analysts.
How have ALTG shares performed in 2024?: Alta Equipment Group's stock was trading at $12.37 at the start of the year. Since then, ALTG shares have decreased by 5.3% and is now trading at $11.71.
View the best growth stocks for 2024 here.
Are investors shorting Alta Equipment Group?: Alta Equipment Group saw a decline in short interest during the month of March. As of March 31st, there was short interest totaling 1,740,000 shares, a decline of 5.4% from the March 15th total of 1,840,000 shares. Based on an average daily volume of 328,400 shares, the short-interest ratio is presently 5.3 days. Currently, 7.7% of the shares of the company are sold short.
View Alta Equipment Group's Short Interest.
When is Alta Equipment Group's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 8th 2024.
View our ALTG earnings forecast.

How were Alta Equipment Group's earnings last quarter?: Alta Equipment Group Inc. (NYSE:ALTG) posted its earnings results on Thursday, March, 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by $0.03. The business had revenue of $521.50 million for the quarter, compared to analyst estimates of $478.68 million. Alta Equipment Group had a net margin of 0.47% and a trailing twelve-month return on equity of 8.60%.
How often does Alta Equipment Group pay dividends? What is the dividend yield for Alta Equipment Group?: Alta Equipment Group announced a quarterly dividend on Friday, February 2nd. Shareholders of record on Thursday, February 15th will be given a dividend of $0.057 per share on Thursday, February 29th. This represents a $0.23 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Wednesday, February 14th.
Read our dividend analysis for ALTG.
Is Alta Equipment Group a good dividend stock?: Alta Equipment Group (NYSE:ALTG) pays an annual dividend of $0.23 per share and currently has a dividend yield of 1.84%. The dividend payout ratio is 127.78%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, ALTG will have a dividend payout ratio of 44.23% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for ALTG.
How do I buy shares of Alta Equipment Group?: Shares of ALTG stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NYSE:ALTG) was last updated on 4/16/2024 by MarketBeat.com Staff

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