Alta Equipment Group Inc. (NYSE:ALTG) Given Consensus Rating of “Hold” by Brokerages

Alta Equipment Group Inc. (NYSE:ALTG) has been assigned a consensus rating of “Hold” from the seven ratings firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $11.00.

Several research analysts recently commented on the company. DA Davidson reduced their price objective on Alta Equipment Group from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, November 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alta Equipment Group in a research note on Tuesday. Zacks Research cut shares of Alta Equipment Group from a “hold” rating to a “strong sell” rating in a research report on Friday, November 14th. Finally, Wall Street Zen downgraded shares of Alta Equipment Group from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Voss Capital LP grew its position in shares of Alta Equipment Group by 2.3% in the first quarter. Voss Capital LP now owns 2,980,816 shares of the company’s stock valued at $13,980,000 after purchasing an additional 65,816 shares in the last quarter. Vanguard Group Inc. boosted its stake in Alta Equipment Group by 2.4% during the third quarter. Vanguard Group Inc. now owns 1,321,283 shares of the company’s stock worth $9,566,000 after buying an additional 30,552 shares during the last quarter. Nantahala Capital Management LLC boosted its stake in Alta Equipment Group by 23.4% during the first quarter. Nantahala Capital Management LLC now owns 1,042,769 shares of the company’s stock worth $4,891,000 after buying an additional 197,654 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in Alta Equipment Group by 16.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 792,103 shares of the company’s stock valued at $5,006,000 after buying an additional 110,444 shares in the last quarter. Finally, Royce & Associates LP increased its stake in shares of Alta Equipment Group by 8.3% in the 3rd quarter. Royce & Associates LP now owns 546,792 shares of the company’s stock worth $3,959,000 after acquiring an additional 42,054 shares during the last quarter. 73.58% of the stock is currently owned by institutional investors and hedge funds.

Alta Equipment Group Trading Up 0.2%

Shares of Alta Equipment Group stock opened at $4.88 on Friday. The company has a current ratio of 1.42, a quick ratio of 0.49 and a debt-to-equity ratio of 257.10. Alta Equipment Group has a twelve month low of $3.54 and a twelve month high of $8.99. The firm has a market capitalization of $157.33 million, a PE ratio of -1.94 and a beta of 1.57. The firm’s 50-day moving average price is $5.96 and its 200 day moving average price is $6.65.

Alta Equipment Group (NYSE:ALTG) last announced its earnings results on Thursday, November 6th. The company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($1.04). The firm had revenue of $422.60 million for the quarter, compared to analyst estimates of $456.68 million. Alta Equipment Group had a negative net margin of 4.34% and a negative return on equity of 175.61%. On average, sell-side analysts predict that Alta Equipment Group will post -1.92 EPS for the current fiscal year.

About Alta Equipment Group

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.