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

Alta Equipment Group Inc. (NYSE:ALTG) has been given a consensus rating of “Hold” by the five analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $12.1667.

Several analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alta Equipment Group in a report on Friday, May 29th. Wall Street Zen lowered Alta Equipment Group from a “hold” rating to a “sell” rating in a report on Saturday. Raymond James Financial upgraded Alta Equipment Group from a “market perform” rating to an “outperform” rating and set a $9.50 price objective for the company in a report on Monday, March 9th. Finally, DA Davidson upgraded Alta Equipment Group to a “hold” rating in a report on Wednesday, May 6th.

Hedge Funds Weigh In On Alta Equipment Group

Several institutional investors have recently bought and sold shares of ALTG. Strs Ohio bought a new position in Alta Equipment Group during the first quarter valued at about $138,000. Rhumbline Advisers raised its holdings in Alta Equipment Group by 15.9% during the first quarter. Rhumbline Advisers now owns 39,374 shares of the company’s stock valued at $185,000 after buying an additional 5,406 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Alta Equipment Group by 71.9% during the second quarter. JPMorgan Chase & Co. now owns 55,084 shares of the company’s stock valued at $348,000 after buying an additional 23,047 shares in the last quarter. Quantinno Capital Management LP raised its holdings in Alta Equipment Group by 72.4% during the second quarter. Quantinno Capital Management LP now owns 62,314 shares of the company’s stock valued at $394,000 after buying an additional 26,176 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Alta Equipment Group during the second quarter valued at about $35,000. 73.58% of the stock is currently owned by institutional investors.

Alta Equipment Group Price Performance

Shares of NYSE:ALTG opened at $7.22 on Wednesday. The company has a current ratio of 1.37, a quick ratio of 0.47 and a debt-to-equity ratio of 257.10. Alta Equipment Group has a 1 year low of $4.16 and a 1 year high of $8.99. The business has a fifty day simple moving average of $6.59 and a 200 day simple moving average of $6.15. The firm has a market cap of $234.78 million, a price-to-earnings ratio of -2.85 and a beta of 1.73.

Alta Equipment Group (NYSE:ALTG) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.03). Alta Equipment Group had a negative return on equity of 3,253.61% and a negative net margin of 4.33%.The firm had revenue of $410.50 million for the quarter, compared to analysts’ expectations of $424.18 million. As a group, sell-side analysts predict that Alta Equipment Group will post -1.2 earnings per share for the current fiscal year.

About Alta Equipment Group

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.