Alta Equipment Group (ALTG) Scheduled to Post Earnings on Wednesday

Alta Equipment Group (NYSE:ALTG) will post its quarterly earnings results after the market closes on Wednesday, May 8th. Analysts expect Alta Equipment Group to post earnings of ($0.21) per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Alta Equipment Group (NYSE:ALTG) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). Alta Equipment Group had a net margin of 0.47% and a return on equity of 8.60%. The firm had revenue of $521.50 million during the quarter, compared to the consensus estimate of $478.68 million. On average, analysts expect Alta Equipment Group to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Alta Equipment Group Stock Up 1.2 %

Shares of NYSE:ALTG opened at $11.69 on Monday. The company has a market cap of $383.55 million, a price-to-earnings ratio of 64.94 and a beta of 1.67. Alta Equipment Group has a one year low of $8.76 and a one year high of $17.98. The firm has a fifty day moving average price of $11.90 and a two-hundred day moving average price of $11.31. The company has a debt-to-equity ratio of 4.40, a current ratio of 1.32 and a quick ratio of 0.48.

Alta Equipment Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be given a $0.057 dividend. This represents a $0.23 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Tuesday, May 14th. Alta Equipment Group’s payout ratio is presently 127.78%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. DA Davidson reiterated a “buy” rating and issued a $22.00 price objective on shares of Alta Equipment Group in a research report on Friday, March 15th. B. Riley reissued a “buy” rating and issued a $22.00 price target (down previously from $25.00) on shares of Alta Equipment Group in a report on Friday, March 15th.

Insider Activity at Alta Equipment Group

In related news, CEO Ryan Greenawalt sold 34,951 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $11.36, for a total transaction of $397,043.36. Following the sale, the chief executive officer now owns 5,842,625 shares of the company’s stock, valued at $66,372,220. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alta Equipment Group news, CEO Ryan Greenawalt sold 34,951 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $11.36, for a total transaction of $397,043.36. Following the completion of the sale, the chief executive officer now directly owns 5,842,625 shares in the company, valued at approximately $66,372,220. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Craig Brubaker sold 7,405 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $11.77, for a total transaction of $87,156.85. Following the completion of the transaction, the chief operating officer now owns 95,077 shares of the company’s stock, valued at $1,119,056.29. The disclosure for this sale can be found here. Insiders have sold 2,816,886 shares of company stock worth $31,011,780 over the last ninety days. 20.90% of the stock is owned by corporate insiders.

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.