Alta Equipment Group (NYSE:ALTG) Issues Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Alta Equipment Group (NYSE:ALTG) issued its quarterly earnings data on Monday. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.07, FiscalAI reports. The company had revenue of $417.40 million for the quarter, compared to analysts’ expectations of $452.30 million. Alta Equipment Group had a negative net margin of 4.42% and a negative return on equity of 3,253.61%.

Alta Equipment Group Stock Up 1.4%

ALTG traded up $0.09 during trading on Monday, hitting $6.01. The company’s stock had a trading volume of 235,213 shares, compared to its average volume of 229,262. Alta Equipment Group has a twelve month low of $4.16 and a twelve month high of $8.69. The stock’s fifty day moving average price is $6.25 and its 200-day moving average price is $6.51. The firm has a market capitalization of $196.51 million, a P/E ratio of -2.34 and a beta of 1.76.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Citigroup reiterated an “outperform” rating on shares of Alta Equipment Group in a research report on Friday, September 25th. Northland Securities set a $12.00 price objective on Alta Equipment Group in a research note on Friday, September 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alta Equipment Group in a report on Wednesday, August 26th. Finally, Wall Street Zen upgraded shares of Alta Equipment Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Alta Equipment Group has an average rating of “Hold” and an average target price of $9.83.

About Alta Equipment Group

Alta Equipment Group Inc is an equipment dealership and rental company that provides machinery, parts, service and support to customers in the construction, industrial, manufacturing, warehousing and related sectors. The company operates through construction and material-handling businesses, serving contractors, businesses and public-sector organizations.

Its construction equipment offerings include earthmoving machinery, aerial work platforms, cranes, compact equipment and other jobsite products.